[NYAPRS Enews] Breaking: Some Details of COVID Relief Package Agreement

[Harvey Rosenthal]

Congress Reached COVID Relief Deal
NYAPRS  December 20, 2020  10:30 am

Late last night, House and Senate negotiators reached agreement on a COVID-relief bill that includes:

  *   $600 direct stimulus checks for most adults and $600 per child for at least two children (see cnet chart below for more details).

  *   enhanced federal unemployment payments of $300 per week until early spring
  *   a fresh round of subsidies for hard-hit businesses and funding for schools, health care providers, the Postal Service, food assistance programs, renters facing eviction and student loan borrowers
  *   money for vaccine development and distribution, coronavirus testing and contact tracing

According to Senator John Barrasso this morning, an extension of the Paycheck Protection Program will be "a little more specific this time in that the business has to be fewer than 300 employees and they have to actually show a loss."

First in line for the stimulus checks will likely be individuals who already have their direct payment information on file with the IRS. For those who are eligible for a stimulus payment but have not shared their bank account details with the IRS, they can expect to instead receive a paper check or a prepaid debit card. Here's a breakdown of how the funds will be distributed.

$600 stimulus check
($600 per dependent of any age)
Individual taxpayer, no qualified dependents
$600 maximum
Head of household, 1 qualified dependent
$1,200 maximum
Head of household, 2 qualified dependents
$1,800 maximum
Head of household, 3 qualified dependents
$2,400 maximum
Married couple, no qualified dependents
$1,200 maximum
Married couple, 1 qualified dependent
$1,800 maximum
Married couple, 2 qualified dependents
$2,400 maximum
Married couple, 3 qualified dependents
$3,000 maximum
https://www.cnet.com/personal-finance/new-stimulus-check-for-600-vs-1200-heres-how-big-your-second-payment-could-be/

Of grave concern to NYAPRS and our state and national colleagues, the $900 billion deal does not include funding for state and local governments. More on this later today.

The measure is being added to a $1.4 trillion spending bill and lots of other unfinished work, including previously stalled legislation to extend tax breaks, authorize water projects, and address the problem of surprise sky-high medical bills for out-of-network procedures.

https://apnews.com/article/ap-top-news-pat-toomey-coronavirus-pandemic-75064ab1007dde0a1411c204df83e888
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