Congressional Democrats Release Details Of $1.9 Trillion COVID Relief Bill
The U.S. House of Representatives could vote this week on a $1.9 trillion COVID-19 relief package. Democrats in Congress and the White House are hoping to have the legislation to President Joe Biden’s desk for signature by the middle of March. What is in this legislation? Democrats on the House Budget Committee just released details of on February 19.
The bill proposes to:
- Provide additional support to small businesses by providing additional Economic Injury Disaster Loan grants and expanding the U.S. Small Business Administration’s Paycheck Protection Program;
- Extend paid and family leave tax credits;
- Raise the federal minimum wage gradually from $7.25 per hour to $15 per hour by 2025;
- Provide $1,400 direct payments to individual Americans whose families meet certain income thresholds;
- Extend federal unemployment programs that are set to expire in March 2021 through August, 29, 2021 and increase federal weekly benefits from $300 to $400 from mid-March through the end of August;
- Provide $8.5 billion COVID-19 vaccine distribution, promotion, administration and monitoring, including $1 billion for education campaigns that dispel concerns about the vaccine; and
- Offer additional aid to public schools in order to help them re-open.
Click here for a full summary of the legislation.