Right here’s How A lot Your Subsequent Stimulus Test Will Be

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After months of impasse, the Democratic and Republican leaders of Congress announced late Sunday that they had agreed on a new coronavirus stimulus package.

It is valued at nearly $ 900 billion and provides assistance to individuals, small businesses, and schools. This includes a second round of direct payments to individuals.

House Majority Leader Steny Hoyer, D-Maryland, said in a tweet late Sunday that he expected the House of Representatives to pass the relief package today as part of a larger group of bills that would also fund the government through the end of the fiscal year.

From there, the Senate must pass the package and President Donald J. Trump must sign it before it can become law.

First, however, the coronavirus stimulus package agreed by Congress on Sunday must be completed on paper. By this morning it still had to be published in final or draft form. All we know for sure about the package right now is what Congressmen have been saying about it since Sunday night.

Some of the known provisions of the Coronavirus Stimulus Package that would affect individuals include the following.

Payments to Individuals

“Democrats have received a new round of direct payments worth up to $ 600 per adult and child to ensure that families with mixed status receive payments,” said House spokeswoman Nancy Pelosi, D-California and the Senate Majority Leader, Chuck Schumer, D-New York. said in a joint statement Sunday.

A payment of $ 600 per person would be $ 600 less than the adult payments approved under the CARES federal law enacted in March, but also $ 600 more than the original package framework. Two bills drafted by the House’s bipartisan problem-solver, Caucus, served as a framework for recent Congress negotiations and did not contain provisions for direct payments.

“Mixed-status families” refers to households made up of US residents and non-residents, reports The Hill:

“The bill allows US citizens who are in households that include non-nationals to receive the payments. In the first round of payments, U.S. citizens married to people who did not have eligible Social Security numbers were generally unable to receive payment if the couple filed a joint return. “

Extended unemployment benefits

The package extends the pandemic programs created by the CARES bill to support unemployment by eleven weeks, Pelosi, Schumer and ranking member of the Senate Finance Committee, Ron Wyden, D-Oregon, said Sunday. This includes an additional $ 300 per week of unemployment insurance benefits.

Extension of the eviction moratorium

For tenants, the CARES Act has also created a moratorium to temporarily suspend evictions and late payment fees. The new coronavirus stimulus package extends that moratorium and offers $ 25 billion in rental support, according to Pelosi and Schumer.

They did not specify how long the eviction moratorium would be extended. Nor did they mention whether an existing foreclosure moratorium on homeowners with mortgages would also be extended.

To learn more about the other stimulus package provisions that members of Congress mentioned, read the Pelosi / Schumer statement and remarks made on Sunday by Senate Majority Leader Mitch McConnell, R-Kentucky.

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