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What are the main benefits included in the new stimulus package

What are the main benefits included in the new stimulus package

The House of Representatives will vote on Monday to approve the new stimulus package. New aid for Americans is on the way, after Democratic and Republican leaders reached agreement in the U.S. Congress to vote on a new $900 billion stimulus package. This would help citizens mitigate the economic effects of coronavirus pandemics.

Among the benefits included in this new package, which will be voted on Monday by lawmakers, are direct cash payments – also called second stimulus checks – and extra help with unemployment insurance.

If approved by Congress, the new stimulus package will be sent to President Donald Trump for his signature by Tuesday, which would safeguard several programs that are set to expire on December 31.

It was last March that Congress passed the first $2 billion stimulus package, known as the Pandemic Economic Assistance, Relief and Security Act (CARES). If passed, the second stimulus bill would be the largest yet for the pandemic.

All The Benefits

Although lawmakers have not released the official text of the agreement on the new stimulus package, here are the main benefits that are envisioned in the new aid:

1- Stimulus Checks

Although approved at the last minute, one of the main benefits is the direct payments of $600. A benefit of $600 per child will also be offered to the most vulnerable households.

This represents half of the $1,200 received in the first stimulus check.

2- Unemployment benefits

It also considers in this new package to give $300 a week additional to unemployment insurance, which is half of what is currently given. The benefit would be in effect for 11 weeks, beginning in late December.

It would also extend the Pandemic Unemployment Assistance program for self-employed, self-employed, and self-employed workers and contractors, and extend the Pandemic Emergency Unemployment Compensation program for 13 weeks, targeting people who have exhausted their regular government benefits.

3- Small Business Loan

12 billion would be allocated to reactivate the Paycheck Protection Program would be resumed so that small businesses can apply for a second loan. This new package includes $15 billion to support other independent businesses and cultural institutions. Not only that, but it extends eligibility to more nonprofit organizations, as well as local newspapers and media outlets.

4- Schools and child care

This new package is estimated to provide $82 billion for aid programs for elementary schools and universities. It also provides $10 billion to help child care providers.

5- Rental Assistance

The new project would give a break to the protection against eviction program, which is about to expire on December 31, as the deadline would be extended by one more month.

Another $25 billion would be used to support rental housing for workers who lost their jobs during the increasingly contagious coronavirus pandemic.

6- Nutritional Assistance

This new stimulus package provides for a 15% increase in the Supplemental Nutrition Assistance Program (SNAP) over the next half year, and will extend the Pandemic-EBT program, which targets families with children under the age of 6.

Also, $400 million will go to food banks and food pantries, which are delivered through the Emergency Food Assistance Program.

This stimulus bill, if approved, would also benefit nutrition programs for the elderly, such as Meals on Wheels, which would receive $175 million, and $13 million for the Commodity Supplemental Food Program.

In the Hands of Congress

So hopes for support on this second stimulus package are placed, first, on passage in the House of Representatives where it will be voted on Monday, and then on the Senate where it will be voted on Tuesday 22nd and finally sent to President Trump for signature and enactment on December 23rd.

This is how the programs that expire on December 31st would be saved.

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