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Stimulus Proposal Includes $600 Direct Payments, $300 in Unemployment Benefits
Posted
December 21, 2020
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6:05Now PlayingThe House released the text of a massive 5,593-page package of legislation that combines pandemic relief with a bill to fund government operations just hours before lawmakers were set to cast their votes.
The roughly $900 billion aid package is attached to a $1.4 trillion measure to fund government operations through the end of the fiscal year. Also included are major tax, energy, national security policy measures.
The pandemic-relief portion would provide direct payments of $600 to most Americans and $300 per week in enhanced unemployment benefits through March. Expiring programs for gig workers and the long-term unemployed also would continue.
There would be $284 billion for the Paycheck Protection Program, which provides forgivable loans to small businesses. The package includes money for transportation -- including for airlines -- vaccine distribution, schools and universities, food aid, and many other provisions.
Negotiators couldn’t bridge partisan differences over a liability shield for companies wanted by some Republicans, and aid for state and local governments that Democrats had demanded, and they left those provisions out. A last-minute dispute over the Federal Reserve’s emergency lending authority threatened to derail an agreement until a compromise late Saturday cleared the way for the broader deal.
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