UPDATE: $908 Billion Emergency Spending Package
This week, lawmakers are scrambling to take short-term action to get the nation through the holidays. There has been bipartisan support for a $908 billion in emergency spending. $560 billion is left over from the CARES Act in March and the remaining $420 billion would be new appropriations. While a draft of the new legislation has yet to be released, the framework includes funding for another round of PPP Loans, an extension on the deferral of Student loans, and additional Federal Unemployment Insurance Benefits. As of now, direct payments in the form of stimulus checks have not been included.
According to a release by Sen. Manchin’s Office, the new COVID Emergency Relief Framework consists of $908 billion as is distributed as follows:
- State, Local, and Tribal Governments ($160 billion)
- Additional Unemployment Insurance (UI) ($180 billion)
- Support for small businesses including Paycheck Protection Program (PPP), EIDL, restaurants, stages, and deductibility ($288 billion)
- CDFI/MDI Community Lender Support ($12 billion)
- Transportation (Airlines, Airports, Buses, Transit and Amtrak)($45 billion)
- Vaccine Development and Distribution & Testing and Tracing ($16 billion)
- Healthcare Provider Relief Fund ($35 billion)
- Education ($82 billion)
- Student Loans ($4 billion)
- Housing Assistance (Rental) ($25 billion)
- Nutrition/Agriculture ($26 billion)
- U.S. Postal Service ($10 billion)
- Child Care ($10 billion)
- Broadband ($10 billion)
- Opioid Treatment ($5 billion)
