Trump Signs Second Stimulus Bill Including $600 Checks

Second Stimulus Bill

This section also increases the amount of these reimbursements from 50% to 75% of amounts paid for weeks of unemployment beginning after March 31, 2021, and ending on or before September 6, 2021. (Sec. 7202) This section directs DOT to establish a payroll support program and enter into agreements with employers that meet specified criteria to provide public contributions to supplement compensation of an eligible employee group. (Sec. 3101) This section provides additional FY2021 funding to carry out activities under the Defense Production Act of 1950 to manage the supply chain for personal protective equipment, vaccines, and other products to address COVID-19 and other declared public health emergencies. That act confers on the President a broad set of authorities to influence domestic industry in order to provide essential materials and goods for the national defense.

Not everyone who took out student loans is affected by the December 2020 stimulus plan to forgive more than a billion in federal loans to historically Black colleges and universities. Not all veterans, currently serving military members, or family members will benefit from this measure, but those who do could find significant relief. Some veterans will also benefit from the Save Our Stages funding included in this small business measure which is intended to provide relief for live venues and related businesses negatively affected by the pandemic. The House voted to approve the stimulus on Wednesday March 10, 2021 and the bill went to President Joe Biden’s desk to be signed into law. Some expected that signature to come on Friday, March 12, but the President took action to sign the third stimulus into law a day earlier than expected. This was a move some interpreted as a commitment to the urgent nature of the economic relief passed. (Sec. 11003) This section provides additional FY2021 funding to tribal communities for federal housing assistance through the Native American Housing Block Grant, Native Hawaiian Housing Block Grant, and Indian Community Development Block Grant programs.

Pandemic Rental Assistance

Lawmakers tacked on a $1.4 trillion catchall spending bill and thousands of pages of other end-of-session business in a massive bundle of bipartisan legislation as Capitol Hill prepared to close the books on the year. The bill goes to President Donald Trump for his signature, which is expected in the coming days. Dartunorro Clark covered national politics, including the Covid-19 recovery, for NBC News. Congress can’t amend the bill now that it has been passed, and it would have to consider new legislation.

Second Stimulus Bill

Since March 15, we’ve had three trips,” said Mel Jackson, owner of Transportation Unlimited Inc. Working with an adviser may come with potential downsides such as payment of fees . The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest. The CARES Act was credited with keeping the economy from falling off a cliff during widespread lockdowns Second Stimulus Bill in the spring, but Republicans controlling the Senate cited debt concerns in pushing against Democratic demands. Majority Leader Mitch McConnell, R-Ky., took a victory lap after blocking far more ambitious legislation from reaching the Senate floor. Democrats promised more aid to come once Biden takes office, but Republicans were signaling a wait-and-see approach.

State and local aid funding? Not this time

(Sec. 9707) This section expands the eligibility for special funding rules for pension plans operated by certain community newspapers. (Sec. 9702) This section permits a multiemployer pension plan to extend by five years the funding improvement or rehabilitation period if the plan is designated as in endangered or critical status for a plan year beginning in 2020 or 2021. Further, if such a plan is in endangered or critical status for the plan year preceding the designated plan year, the plan is not required to update its funding improvement or rehabilitation plans or schedules until the plan year following such designated year. (Sec. 9673) This section allows an exclusion from gross income for restaurant revitalization grant amounts received from the SBA. (Sec. 9672) This section allows an exclusion from gross income for targeted Economic Injury Disaster Loan advances received from the Small Business Administration . (Sec. 9624) This section increases the threshold for disqualification of the EITC based on investment income from $2,200 to $10,000.

Second Stimulus Bill

You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. The table below compares Consolidated Appropriations Act funding in several key areas with both the CARES Act, which preceded the CAA and the American Rescue Plan Act , which followed it. The No Surprises Act, contained in Division BB of the Consolidated Appropriations Act , 2021, takes a federal approach to the problem of surprise medical billing. In the meantime, the Department of Health and Human Services, Treasury, and Department of Labor were instructed to issue regulations and guidance.

Inflation Reduction Act Will Boost Obamacare Tax Credit

The bill includes $600 checks for individual tax payers earning under $75,000 per year and their child dependents, half of the $1,200 payments distributed via the CARES Act. It also provides enhanced federal jobless benefits of $300 per week for 11 weeks, through March 14, 2021. This is half of the extra $600 per week unemployed workers received at the start of the pandemic under the CARES Act and ended in late July. While the package provides far more money for K-12 schools than the first stimulus bill in March, the funds still fall short of what both sectors say they need to blunt the effect of the pandemic.

Second Stimulus Bill

“This bill cannot and will not be the final word upon congressional relief from the coronavirus pandemic,” he said. “This is an emergency survival package, and when we come back in January, our No. 1 job will be to fill in the gaps left by the bill and get the economy moving with strong federal input.” The coronavirus liability shield, along with money for state and local funding, had been broken off into a separate piece of $160 billion legislation. The final stimulus law in 2020 doesn’t include this, but that discussion could pick up again in 2021. The bipartisan law splits off $160 billion for state and local aid into another package with liability guards that has not been voted on. The intention is that Congress could consider the two areas of conflict separately from the bill focused just on economic relief.

Money for childcare, schools and food assistance

Eligible applicants may qualify for a $300 weekly federal enhancement in benefits for 11 weeks– through March 14, 2021. The stimulus extends pandemic unemployment measures created by the CARES Act in March.

President Trump has signed the $900 billion COVID relief legislation into law, and you’ll get more than a second stimulus check. Freed has created an online organization called ExtendPUA in order to help others who are also struggling with unemployment during the pandemic. There are members of Extend PUA that have been getting as little as $7 a week in unemployment benefits since the $600 federal supplemental dropped off in July. The first round of checks took weeks to begin arriving, even via direct deposit, but U.S.

The year-end package includes $13 billion to bolster food stamp benefits by 15 percent, although it doesn’t expand SNAP eligibility. Farmers and ranchers will also see another $13 billion round of direct payments to help cover pandemic-induced losses. Congressional leaders on Monday unveiled the text of a $900 billion fiscal stimulus package and a $1.4 trillion government funding deal that will deliver critical pandemic aid to millions of Americans and pad federal agency budgets through next September. A CARES Act $10 billion loan to the USPS was converted to direct funding with no required repayment by the CAA legislation. These funds were designed to be used to offset operational costs and expenses resulting from the pandemic. The CAA package included Economic Impact Payments of $600 for individuals making up to $75,000 per year.

  • He can decide to sign the bill into law or send it back to Congress without his signature.
  • In total, it’s a $900 billion plan that now protects roughly 40 million Americans from potentially being evicted from their homes and prevents 12 million Americans from losing out on unemployment benefits.
  • He said he would push for another relief bill once President-elect Joe Biden takes office; aid for state and local governments has been a sticking point in previous negotiations.
  • Grant amounts must be equal to the recipient’s pandemic-related revenue loss, and the calculation of this loss must be reduced by any amounts received under the PPP or the EIDL Program.
  • But it is not going to be nearly enough in the long run or even the medium term,” Ted Mitchell, president of the American Council on Education, said in a statement.
  • He has a bachelor’s from Ohio University and Master’s from Wright State University in music education.

This means that your payment will be reduced by 5% or $5 for every $100 that you made above the AGI limit. So if you earned more than $87,000 as an individual taxpayer, $174,000 as a married taxpayer filing jointly, and $124,500 as a head of household, you will not get a stimulus payment. The nearly $900 billion package, passed with bipartisan support, includes a new round of stimulus checks, an extension of unemployment benefits and more money for vaccines and education.

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