Congress voted on a Second Stimulus package for $900 Billion Dollars late monday night to get to the people before they expired during the holiday season. There have been negotiations and talks over the last few months about a new package.
it will be comprised of:
- Direct Payments to Americans of $600 per Individual who make up to $75,000 per year and $1,200 for couples who make up to $150,000 per year
- Unemployment benefit of $300 per week for unemployed individuals
- Payment Paycheck Protection Program being re-opened
$600 Dollar Payments
Direct Payments will begin as early as next week( last week of December) for individuals to receive $600 per individual or $1,200 for couples who make 75K/$150 per year. Children(up to 17 years and younger) will get $600 also. There was an add on of $100 dollars, The Cares package provided $500 dollars.
$300 Dollar Benefits
Unemployed individuals will get a benefit of $300 per week. Their are individuals who will recieve this benefit, while they have been receiving their states unemployment as well. The CARES package passed in March provided for upto 4 months(july 2020), this benefit will last upto March 14,2021.
Paycheck Protection Program Returns
Paycheck Protection Program also know as “PPP” returns. This program provided benefits for businesses up to 300 employees with their payroll, rent, and utilities. Congress re-opened the program with about $285 Billion dollars to assist businesses during this stimulus package.
It has been a long road this year to get to this agreement, there have been a lot of negotiations and comprises to get this bill passed. This Stimulus bill does provide assistance to millions of individuals and businesses that are needed.
We will continue to move forward.
Money Finance Ultra
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