This Is How Much Money You Could Get From the New COVID Relief Bill
A new bill proposing further financial aide for Americans has just been passed by the House.
The coronavirus pandemic has brought financial hardship to many households across the United States. Lost jobs, business closures, and huge healthcare bills have affected people from all economic backgrounds. And while many received government aide earlier this year via a stimulus check, the pandemic has continued on further than originally imagined—which means that many Americans are still struggling financially. Luckily, there is a new COVID relief bill in the works that could put a little extra cash in your bank account—if it's approved, of course. The new bill, proposed by the Democratic Party, was just passed by the House on Oct. 1, and would reinstate the $600 per week enhanced unemployment benefit though January, as well as send a second $1,200 direct payment to most Americans.
The $2.2 trillion coronavirus stimulus plan would institute a myriad of new financial aide opportunities for Americans—not just individuals, but government bodies and businesses as well. The bill proposes allocating $436 billion in relief over one year to state and local governments, authorizing more money for a second round of Paycheck Protection Program (PPP) loans for businesses. Some of the biggest recipients would be $225 billion for education, $57 million for child care, and $25 billion for airlines to cover payroll costs.
However, according to The Washington Post, many believe that it is unlikely the bill will pass through the Republican-held Senate. After all, no House Republican voted in favor of the bill.
"We're hopeful that we can reach an agreement because the needs of the American people are great," Speaker of the House Nancy Pelosi said. "But there has to be a recognition that it takes money to do that, and it takes the right language to make sure it's done right."
Congress has failed to pass new relief funds for months now—even after relief aide benefits expired in July, such as supplemental unemployment, federal moratorium on evictions, and the application window to apply for PPP loans.
The new bill just passed by the House is an updated version of a relief bill called the Heroes Act, which the House passed nearly five months ago. This original bill proposed a $3.4 trillion stimulus plan, but it never made it past the Senate. And if you're looking to pad your bank account, you may want to move to The State Where You Can Make the Most Money.