Photo: YURI CORTEZ / AFP / Getty Images
A big respite for millions of Americans has won the passage of the second stimulus package of $ 900,000 millionas the programs that were approved last March were about to end on December 31.
Although the Congress It has already approved the second bill of the stimulus bill, it only remains for President Donald Trump to sign it and proceed with its enactment, so that the extensions of the programs in support of millions of people in the United States, who have seen their economy affected by coronavirus pandemic.
These programs represent a financial relief that will benefit from this new package known as Coronavirus Relief and Response Supplemental Appropriations Act.
The benefits contemplated by this new stimulus package are:
$ 600 direct check
One of the main expected benefits is the direct check, which this time will be for $ 600 dollars, which means half of those received with the Law of Help, Relief and Economic Security for Coronavirus (Ley CARES, for its acronym in English).
The people who qualify for this stimulus are those who earn up to $ 75,000 or less, a year.
Similarly, $ 600 dollars goes to those under 16 years old, dependents of parents or guardians, which represents $ 100 dollars more than those provided by the previous CARES Act.
On this occasion, the direct check is eliminated for people who earn more than $ 99,000 annually.
According to estimates of Steven MnuchinSecretary of the Treasury, the first checks for this new stimulus package could start arriving in a week.
Expanded unemployment benefits
The bipartisan agreement in the Congress achieved additional unemployment benefits, so they will be delivered $ 300 a week for unemployment, regardless of the states insurance.
These additional benefits will be valid for 10 weeks, and according to estimates, these resources would take at least three to four weeks to arrive, after President Trump signs the new stimulus package, which is expected to be on Wednesday.
The CARES Act provided the unemployment benefit of $ 600, but the program ended last July.
Support is extended to the Pandemic Unemployment Assistance program, aimed mainly at concert workers; as well as a pandemic emergency unemployment compensation program, which benefits people who have exhausted their regular benefits.
Small business support
Small businesses will also benefit from the legislators’ recently approved stimulus package, which calls for $ 284 billion in forgivable loans from the Paycheck Protection Program (PPP).
This program is extended to support non-profit organizations and the media, in addition to supporting cultural institutions, independent theater and venues where live events are offered.
100% deduction for corporate meals
Another of the supports that was approved in the new package is the so-called “three-martini lunch, which exempts corporate food expenses from taxes, a Republican initiative, which the Democrats did not see with good eyes, but which they accepted in exchange for more benefits. for vulnerable populations.
According to Republicans’ arguments, supporting corporate meals will benefit the restaurant economy.
Stop evictions and extend rental assistance
The new stimulus law stops evictions, at least until January 31, giving tenants who have debts with their landlords and are at risk of eviction for a month.
The CARES Act had contemplated that this eviction protection would end on December 31.
The new stimulus package has budgeted $ 25,000 million to support tenants who have rental debts with their landlords, and who have lost their jobs due to the coronavirus.
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