قالب وردپرس درنا توس
Home / Tips and Tricks / Which stimulation proposal will win? The top 2 contenders and what they could include

Which stimulation proposal will win? The top 2 contenders and what they could include



007-money-bill-dollar-mousetrap-cash-trap-trick-debt

Before the end of the year, can Congress come up with a new plan to provide economic aid?

Sarah Tew / CNET

Nearly nine months after Congress passed the CARES Act in March a range of economic aid for individuals and families, Congress urges to pass another COVID-19 incentive bill before the end of the year.

In a wave of activity, a collection of senators and representatives this week introduced bills ranging from extension of federal unemployment benefits, to allow the distribution of corona vaccines. The action kicked off Monday night, when House Speaker Nancy Pelosi and Senate Leader Chuck Schumer sent a Democratic proposal for more help to Republican leaders.

Then, Tuesday morning, a bipartisan group of senators and representatives introduced a $ 908 billion proposal for a new emergency economic assistance law that would more weekly unemployment benefits but not a second incentive payment. Soon after, Mitch McConnell, Senate majority leader, released details of a revised Senate Republican plan for a new bailout bill, which also included a direct payment for qualified persons.

On Wednesday, Pelosi and Schumer had dropped their own proposal, throwing their support behind the two-pronged plan to get more help now. “In the spirit of a compromise, we believe that the bipartisan framework introduced by senators yesterday should be used as the basis for immediate bipartisan, bicameral negotiations,” the two Democratic leaders said in a statement Wednesday.

Echoing the support of Democratic leaders, the bipartisan group plans to formally submit their bill on Monday.

With COVID-19 cases and weekly unemployment rates on the rise again, many individuals and families will be under increasing pressure to make ends meet through the end of 2020 and through 2021. Without Congress acting this year, the latest economic programs that offer money and protection against evictions to be expires on December 31.

As the country enters 2021 without more federal economic aid, President-elect Joe Biden said Tuesday he is ready to present its own emergency plan (it could be based on this) after taking office on Jan. 20. We might even see that second stimulus check.

Until then, here are the major funding categories currently being discussed. (This story has been updated with new information.)

Renewed Federal Unemployment Benefits

The CARES Act passed in March gave $ 600 a week to unemployed workers, 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 – drafted by more than a dozen representatives and senators – would bring in $ 300 a week in additional federal unemployment benefits for four months. Jeff Stein of the Washington Post reported that the bipartisan group was able to make payments retroactively for missed months.

McConnell’s plan would extend the CARES Act Pandemic Unemployment Assistance, or PUA, and Pandemic Emergency Unemployment Compensation, or PEUC, programs for a month through January, but does not set dollar amount.

A smaller proposal from Senators Sherrod Brown, Chuck Schumer and other Senate Democrats called the American Worker Holiday Relief Act would focus solely on extending unemployment benefits from $ 600 retroactively from September 2020 to October 2021.


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

Comprehensive Payroll Protection Program to fund small business wages

The Payroll Protection Program initially made loans that could be forgiven small businesses to cover employee wages and keep employees on the books rather than firing them.

The new two-pronged proposal would add $ 300 billion to the small business Paycheck Protection Program. McConnell’s plan would also raise $ 300 billion to fund the loans.

Extra protection for tenants against evictions

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 also expires at the end of the year.

According to the Washington Post, the new bipartisan proposal would guard against eviction through “rental financing.” In a press conference following the announcement, senators offered little more than calling the protection “housing and rental assistance.”

In describing his bill reportedly sent by the senator to his fellow Republicans, McConnell makes no mention of continued protection against eviction.

011-stimulus-piggy-bank-tear-falling-money-clip-scale

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

Sarah Tew / CNET

Funding for health care and COVID-19 vaccinations

With the land ready to release the first wave of vaccines against the coronavirus already this month, the proposals focus on financing the distribution of the vaccine.

“As for COVID assistance, we recognized the recent positive developments in vaccine development and the belief that it is essential to significantly fund distribution efforts to get us from vaccine to vaccination,” House Speaker Nancy Pelosi said in a statement Tuesday. statement.

The two-pronged proposal would raise $ 50 billion for vaccine distribution, along with funding coronavirus testing and track down contact efforts. McConnell’s bill provides for $ 16 billion for testing and tracking, with support for vaccine manufacturing.

Liability protection to protect businesses from COVID-19 lawsuits

Republican lawmakers have been supporting limiting COVID-19 liability since this summer, which aims to curtail a flood of lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions were causing them the coronavirus. incurred except in cases of gross negligence.

The two-pronged plan provides for a six-month moratorium on some coronavirus-related lawsuits against organizations, giving states plenty of time to create their own liability protections, the senators said. McConnell’s liability protection would be more stringent and get in the way of state laws.

Funding for school 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 another $ 10 billion for childcare. McConnell’s plan would also pay for education and childcare, with $ 105 billion to “help get students back to school,” from elementary schools to higher education.

No stimulus check until 2021?

The bipartisan bill would be one second economic stimulus check to keep the total cost of the account low.

McConnell’s plan also omits any other direct payment. After President-elect Joe Biden was sworn in on January 20, his government could file for a follow-up bill with a higher price tag that may contain a second payment from up to $ 1,200.

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 have lost your job.




Source link