All You Need to Know About $900 billion Coronavirus Relief Bill
A $900 billion coronavirus relief bill was released by lawmakers on Sunday. The bill is expected to be passed in congress on Monday and signed into the law by President Trump.
After this bill is passed, it is being estimated that more than $4 trillion to respond to the pandemic.
The coronavirus pandemic has caused more than 30000 deaths in the United States.
The Bill will include the following benefits for US citizens:
Stimulus Checks: The direct payments will be provided again to Americans which will be up to $600 per adult and child.
Unemployment Benefits: The unemployed people will get $300 benefit weekly whereas the multiple job workers will also get $100 of benefit per week to boost them.
Support Small Businesses: This bill will provide $9 billion in Emergency Treasury Capital Investments for CDFIs (Community Development Financial Institutions) and MDIs (Minority Depository Institutions) as well as $3 billion to CDFIs in treasury funds. It also provides $20 billion grants for small businesses in Economic Injury Disaster Loans (EDIL) and $15 billion as grants dedicated to live venues.
Housing Assistance: It is providing a $25 billion support for rental assistance families facing eviction.
Education: This bill is going to provide $82 billion in funds to reopen schools and colleges and prevent any kind of virus transmission.
Testing: The funds of amount $20 billion will be provided for the purchase of vaccines, $8 billion for vaccine distribution, and another $40 billion, half of which is for test conductance and another half for extra relief funds to health care providers.
Federal Reserve: The agreement will provide funding to those programs which were not provided funds under the CARES Act.
Nutrition Assistance: $13 billion to the Supplemental Nutrition Assistance Program (SNAP) will be provided.
Transportation: The whole transportation sector will receive a total of $45 billion.
Surprise Medical Bills: The agreement will also provide some provisions to end the practice of surprise medical billing.
Tax provisions: The bill will come with some tax provisions, which will target both individuals and businesses.