Are you and your family changing your vacation spending this year because of the coronavirus pandemic? CNBC Make It wants to talk to you. Email money reporter Alicia Adamczyk at [email protected]
Less than two weeks in advance 12 million Americans are expected to lose unemployment benefits and Evacuation protection across the country is expiring, a bipartisan group of federal lawmakers introduced $ 908 billion Coronavirus aid package, a starting point for negotiations, Senator Susan Collins (R-Maine) as “Christmas miracle. ”
The package is divided into two bills: The non-partisan COVID Emergency Relief Act of 2020 worth $ 738 billion includes funding for improved unemployment benefits, another round of small business loans, emergency food aid and emergency tenant facilities, so a summary of the package.
Meanwhile, the $ 160 billion non-partisan State and Local Support and Small Business Protection Act of 2020 provides corporate liability insurance and funding for state, local, and tribal aid.
Congress has been at odds for months on what to include in the next coronavirus relief package, and so the package is divided into two parts. There is room for compromise on the bill, which includes corporate liability insurance that Republicans advocate, as well as government and local aid, which Democrats believe is a must.
“This is hope for those who have asked their Congress to respond to what they saw in the face of the pandemic,” Senator Lisa Murkowski (R-Alaska) said at a press conference Monday.
The bill does not include funding for another round of stimulus checks, which were a popular part of the CARES bill.
Here are some of the key provisions in the latest aid package:
An esteemed 12 million people are at risk of losing their unemployment benefits the day after Christmas when two major CARES Act programs expire: the Pandemic Unemployment Assistance (PUA) program, which extended unemployment benefits to gig workers and freelancers who are normally not eligible, and the Pandemic Emergency Unemployment Compensation (PEUC) program , the additional 13 weeks of UI for those who have exhausted their state’s benefits.
The bipartisan bill would add 16 weeks to all unemployment benefits, presumably including these two programs, while funding expanded federal benefits of $ 300 per week for that period.
Almost 12% of Americans, or 25.7 million people, reported not having enough to eat In early December, according to the Household Pulse Survey published by the US Census Bureau on December 2nd. The bipartisan bill provides $ 13 billion in more SNAP aid and funding for food banks and pantries.
Housing advocates warn an eviction crisis For months it has been forecasting that millions could lose their homes if the federal eviction moratorium expires at the end of the year. The bill would extend the eviction ban through January 2021 and allocate $ 25 billion for emergency rental assistance.
At this point, it is possible for President-elect Joe Biden to extend the moratorium through executive action, as President Donald Trump did in the summer of 2020.
The bill provides $ 300 billion for another round of Paycheck Protection Loans.