Congress leaders drafted a giant year-end bill that combines $ 900 billion in COVID-19 aid with a $ 1.4 trillion omnibus spending bill and piles of other unfinished tax, energy, education, and health-care laws. The huge, unreleased bill is due for a vote on Monday – and lawmakers have only a few hours to read it before casting their vote.
Highlights of the measure with total funding amounts and specific amounts for some but not necessarily all initiatives; some amounts are not yet available and some aspects of the general account do not include expenses.
DIRECT ECONOMIC HELP ($ 286 billion)
Unemployment Insurance ($ 120 Billion). Revives additional federal pandemic unemployment benefits, but for $ 300 a week – through March 14 – instead of the $ 600 a week benefit that ended in July. Extends special pandemic benefits for “job” workers and extends the maximum period for government paid unemployment benefits to 50 weeks.
Direct Payments ($ 166 Billion). Offers instant payments of $ 600 to individuals earning up to $ 75,000 per year and couples earning $ 150,000 per year – phasing out payments for higher incomes – with an additional $ 600 per dependent child.
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SMALL BUSINESS ($ 325 billion)
Paycheck Protection Program ($ 284 Billion). Revives the Paycheck Protection Program, which provides loans to qualified businesses that can be forgiven. Especially hard-hit companies that received PPP subsidy are eligible for a second round. Ensures that PPP subsidies are not taxed.
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VACCINES, TESTS, HEALTHCARE PROVIDERS ($ 69 billion)
Generates more than $ 30 billion for vaccine and treatment procurement, state distribution funds, and strategic supply. Adds $ 22 billion for testing, tracking and mitigation, $ 9 billion for health care providers and $ 4.5 billion for mental health.
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SCHOOLS ($ 82 billion)
Provides $ 54 billion to public primary schools affected by the pandemic and $ 23 billion to colleges and universities; $ 4 billion to be allocated to a Governors Emergency Education Relief Fund; nearly $ 1 billion for Native American schools.
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RENTAL ASSISTANCE ($ 25 billion)
Offers money for a first-ever federal rental utility; funds to be distributed by state and local governments to help people who are rent arrears and may face eviction.
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FOOD / FARM HELP ($ 26 billion)
Increases food stamp benefits by 15% and provides funding to food banks, Meals on Wheels and other food aid. Provides an equal amount ($ 13 billion) to farmers and ranchers.
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CHILD CARE ($ 10 billion)
Gives $ 10 Billion to the Child Care Development Block Grant to help families with childcare costs and help counselors cover increased running costs.
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POST SERVICE ($ 10 billion)
Forgives a loan of $ 10 billion to the postal service as provided for in previous aid legislation.
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SURPRISE MEDICAL BILLS
Contains bipartisan legislation to protect consumers from massive surprising medical bills after handling non-network providers.
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TAX ‘EXTENSORS’
Extends a variety of expiring tax benefits, including lower excise duties from craft brewers and distillers. For renewables, tax breaks would be extended, as would motorsport facilities and people contributing to charities. Business meals would be 100% deductible through 2022.
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WATER PROJECTS
Includes nearly 400-page water resources bill targeting $ 10 billion for 46 Army Corps of Engineers flood control, environmental and coastal protection projects.