U.S.House and Senate leadership reached a deal on a COVID-19 relief package just in time for the holidays and right before most people on unemployment are about to run out of their benwfits. While the text of the bill is yet to come out or even voted on, here's what we know so far:
- $600 stimulus check for those earning up to $75k. That amount would be reduced for people who earned more than $75k in 2019. Those earning over $99k will not receive any stimulus payment. The payments would provide $600 per adult and child, meaning a family of four could be eligible for up to $2,400 - depending on their income.
- $300/week in supplemental federal unemployment benefits for 11 weeks.
- $284 billion for the Paycheck Protection Program. Performance venues, independent movie theaters and other cultural institutions would now also be eligible for PPP under this deal.
- $25 billion in rental assistance.
The agreement is also expected to extend an eviction moratorium set to expire at the end of the year.
We would notify you as soon as the bill passes and when you should expect your payment.
Stay tuned and please share the information with your friends, family and network.