Congress leaders eliminated a massive end-of-year bill that combines $ 900 billion in COVID-19 aid with a $ 1.4 trillion omnibus spending bill and piles of other unfinished tax legislation, energy, education and health care. The huge bill, not yet released, is scheduled for a vote on Monday – lawmakers have only a few hours before they vote.
Key aspects of the measure, with global funding amounts and specific amounts for some, but not necessarily for all initiatives; some amounts are not yet available, and some aspects of the captive invoice do not involve expenses.
DIRECT ECONOMIC RELIEF ($ 286 billion)
Unemployment insurance ($ 120 billion). It is invigorating additional federal unemployment benefits for the pandemic, but at $ 300 a week – until March 14 – instead of the $ 600 a week benefit that expired in July. Extends special pandemic benefits for gig workers and extends the maximum period for unemployment benefits paid by the state to 50 weeks.
Direct payments ($ 166 billion). It offers direct payments of $ 600 for people making up to $ 75,000 a year and couples making $ 150,000 a year – with payments phased out for higher incomes – with additional payments of $ 600 for each dependent child.
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SMALL BUSINESS ($ 325 billion)
Wage protection program ($ 284 billion). Revives the Wage Protection Program, which provides forgivable loans to qualified businesses. In particular, severely affected companies that received PPP subsidies would be eligible for the second round. Ensures that PPP subsidies are not taxed.
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VACCINE, TESTING, HEALTHCARE PROVIDERS ($ 69 billion)
It provides more than $ 30 billion for the purchase of vaccines and treatments, distribution funds for states and a strategic repository. It adds $ 22 billion for testing, follow-up and mitigation, $ 9 billion for health care providers and $ 4.5 billion for mental health.
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SCHOOLS ($ 82 billion)
Provides $ 54 billion to K-12 public schools affected by the pandemic and $ 23 billion to colleges and universities; $ 4 billion would be provided to a governors’ emergency education aid fund; nearly $ 1 billion for Native American schools.
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RENTAL ASSISTANCE ($ 25 billion)
Provides money for a first federal rental assistance program; funds to be distributed by local and state governments to help people who are left behind on their rent and who could be evicted.
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FOOD AID / FARM ($ 26 billion)
It increases the benefits of food stamp by 15% and provides financing to food banks, wheeled meals and other food aid. It provides an equal amount ($ 13 billion) in aid to farmers and ranchers.
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CHILD CARE ($ 10 billion)
It is providing $ 10 billion in the Child Care Development Block grant to help families with childcare costs and help providers cover increased operating costs.
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POSTAL SERVICE ($ 10 billion)
Forgive a $ 10 billion loan to the postal service under the previous aid legislation.
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SURPRISE MEDICAL BILLS
It contains bipartisan legislation to protect consumers from huge surprise medical bills after receiving treatment from out-of-network providers.
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FISCAL “EXTENSIONS”
Extends a variety of expiring tax exemptions, including lower excise duties for breweries and distillers. Renewable energy sources would see extensive tax cuts, as would motor sports facilities and people who make charitable contributions. Business meals would be 100% deductible by 2022.
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WATER PROJECTS
It includes a nearly 400-page water resource bill targeting $ 10 billion for 46 flood control, environmental and coastal protection projects for the Army’s corps of engineers.