After months of debate here are the highlights and what you can expect. Will this help or not?
- Supplemented unemployment insurance: Unemployed individuals will be eligible for weekly payments of $300, half the value provided by the CARES Act, for up to 11 weeks.
- Direct payments: Dependent children and individuals with an annual income of $75,000 or less, heads of households earning $125,000 or less, and married couples earning $150,000 or less will each receive a one-time payment of $600, half the level distributed under the CARES Act.
- Small business relief: The Paycheck Protection Program will receive an additional $284 billion in funds to provide loans to small businesses. Theaters and live entertainment venues will also receive $15 billion in specially allocated aid.
- Rental assistance: The legislation has set aside $25 billion for rental assistance, and the national moratorium on evictions has been extended by one month to the end of January 2021.
- COVID-19 vaccine assistance: Bill allocates $48 billion for healthcare needs including $20 billion for vaccine distribution.
- Education and other aid: Approximately $82 billion has been set aside to aid local schools, colleges and child care. The Supplemental Nutrition Assistance Program will receive $13 billion.