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What’s in the new incentive bill? $ 600 checks, $ 300 weekly unemployment bonus, more



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Here’s what we know about the new incentive plan.

Sarah Tew / CNET

Congress will likely spend the weekend wrestling over the details of one proposed $ 900 billion economic bailout which is said to be one second stimulus control in front of $ 600 or $ 700 each for eligible adults and dependents, according to several reports. Under pressure to strike a deal that would extend a handful of benefits that expire before the end of the year, Congress is working on the last-minute effort that could include $ 300 weekly federal unemployment checks for unemployed Americans for 10 to 16 weeks, in addition to second stimulus control.

Congress has struggled for months to get widespread approval for another economic aid package, and on the road to the weekend, many lawmakers remain unhappy with the proposal.

“Amid the worst economic crisis since the Great Depression, Congress is somehow unable to respond effectively to the needs of working families,” Senator Bernie Sanders said Friday. Sanders, along with Senator Josh Hawley, were unable to convince the Senate on Friday to vote on a bill that would have sent $ 1,200 in a second stimulus controlfor individuals and $ 500 for children.

How is this new $ 900 bill different from months before, including the $ 908 billion package that started the week? Here’s what we know right now about which funding priorities would move forward and which could be delayed to 2021, possibly including a third stimulus check. We recently updated this story with new information.

read more: Would you like a third stimulus check? A new convention in January could be key

Wasn’t the stimulus bill $ 908 billion and then $ 748 billion? What changed?

This “new” proposal is a $ 900 billion repeat of a $ 908 billion plan first unveiled on Dec. 1. On Monday, the group of two-party senators split the bill into two separate bills totaling $ 908 billion. The largest is a $ 748 billion package to funding areas with the most widespread support. The other breaks down the two most tantalizing issues – state and local funding, and liability protection – into a second $ 160 billion package.

While the $ 748 billion bill was declared ready for vote by its authors, they also urged Congressional leaders to use it as a building block for yet another new package.

“We implore our leaders on both sides, take this work, build it into every package voted on this week,” Democratic Senator Mark Warner said at the press conference that revealed the legislation. “Let’s make sure we get him across the finish line.”

Congress leaders took the $ 748 billion and added some benefits, such as one second stimulus control – and reduced others – reportedly shortened the duration of the unemployment benefit – to reach a price tag of $ 900 billion.


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What’s the story with a second stimulus check?

It appears that the US top Democrats and Republicans took the core of $ 748 billion as a base and added a smaller one second stimulus control to reach a total of $ 900 billion.

Scrapping the controversial funding programs and saving for later – likely a more comprehensive package in 2021 – will leave $ 152 billion for stimulus controls if negotiators are to hit a $ 900 billion cap. Otherwise, a budget of $ 160 billion for stimulus controls could bring the total back to $ 908 billion.

With a maximum of $ 1200 per eligible adult and $ 500 per eligible child, the first 160 million stimulus checks cost the Treasury $ 270 billion, the IRS reported earlier this year. If the final number comes out in the neighborhood of $ 300 billion, then there could potentially be enough money in a $ 152 allotment to cover a check for $ 600 per person if the The qualifications for incentive payments remain about the same.

$ 300 a week in federal unemployment benefits

The CARES Act passed in March gave $ 600 a week to people out of work, in addition to their usual unemployment check. When this funding expired in late July, President Donald Trump has signed an executive action to pay a bonus of $ 300 per week. Which the money will run out by December 31.

The bipartisan proposal would bring in $ 300 a week in additional federal unemployment benefits for as little as 10 weeks and a whopping 16 weeks. It wouldn’t make retroactive payments. There are more details on this weekly unemployment checks.

No liability protection against COVID-19 lawsuits this time

A major sticking point during the summer and fall, Republican lawmakers have backed limiting COVID-19 liability to guard against lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions were causing them the coronavirus acquired except in cases of gross negligence. Democrats have opposed the plan.

The coronavirus liability shield, along with money for state and local funding, is now broken down into a separate $ 160 billion piece of legislation. It now seems likely that a final stimulus bill in 2020 would not contain this, but that discussion could pick up again in 2021.

“We all know the new administration is going to call for a different package,” said Mitch McConnell, leader of the Senate majority. “We can live to fight one more day about what we disagree with, but we all agree to move on with what we do can agree about. That is the way forward. “

Expand the Payroll Protection Program to cover employee wages

The Payroll Protection Program initially made loans to small businesses that could be forgiven as a way to cover employees’ wages rather than lay them off.

The new two-pronged proposal would add $ 300 billion to the small business Paycheck Protection Program. The bill would aim to aid businesses particularly hard hit by closures, including restaurants and live venues.

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Both parties are weighing up the options for a possible stimulus package.

Sarah Tew / CNET

Renew an eviction ban for tenants

The CARES Act has one national ban on deportations for tenants who were late with the rent. When that was due to expire, Trump extended the ban – but that extension will also expire at the end of the year.

The new bipartisan proposal could protect against evictions by providing $ 25 billion to state and local governments to pay rent and utilities. The bill would also extend an expulsion moratorium until January 31, 2021.

Funding for health care and coronavirus vaccinations

With the US being first wave of vaccinations against the coronavirus, the proposals turn to financing distribution of the Covid-19 vaccine.

The bipartisan proposal would raise $ 16 billion for vaccine development and distribution, along with funding coronavirus testing and track down contact efforts.

read more: What you need to know about the COVID-19 vaccine timeline, hidden costs, and more

Money for schools and childcare

Funding for education was part of proposals for more economic aid dating back to May. The two-pronged plan would set aside $ 82 billion for education and $ 10 billion for childcare.

State and local aid money? Not this time

The bipartisan proposal would split $ 160 billion for state and local aid into the liability guard package, with the intention that Congress could consider the two conflict areas separate from the bill that focused solely on economic relief.

While we wait to see how and when negotiations shake up on current proposals, here’s what you need to know loans against coronavirus, unemployment insurance and what to do if you lost your job.


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