As the U.S. continues its fight against the coronavirus pandemic, lawmakers look for ways to provide much-needed relief to individuals and businesses affected by its repercussions. The latest COVID-19 bill proposes several measures that could help address a range of needs. Get an overview of what this proposed bill entails and how it could impact you or your family.
What Is the Next Coronavirus Relief Bill?
The new relief bill is the next step in providing economic assistance to those impacted by the coronavirus pandemic. It seeks to address a variety of needs, including additional direct payments to individuals, state and local aid, unemployment insurance, and economic stimulus. This proposed bill also looks to protect frontline workers who are putting themselves at risk for their communities every day.
Who Will Benefit From the Relief Package?
The proposed COVID-19 bill is designed to benefit many people impacted by the pandemic, including individuals and working families who were laid off or had reduced hours, state and local governments who will receive much needed aid to cover increasing costs, and frontline workers who are putting themselves at risk by continuing to work every day. In addition, the bill seeks to provide additional direct payments of $1,400 per individual as well as providing incentives for small businesses.
What Are the Major Components of the Legislation?
The bill includes several major components. These include direct payments to individuals, funds for small business relief, extensions of unemployment assistance and health benefits, resources to support the vaccine rollout, aid for state and local governments, and more. Additionally, it includes various measures that aim to strengthen production of personal protective equipment (PPE) by providing funding towards PPE manufacturing efforts.
How Will This Bill Help Families, Businesses, and Health Care Providers?
The proposed COVID-19 bill will offer financial assistance to individuals and families who have been heavily impacted by the economic fallout of the pandemic. This includes direct payments of up to $1,400 per person (phased out by income level). It also expands the child tax credit to provide additional support for families with children. Additionally, small businesses will receive a significant infusion of funds in order to help keep them afloat. Health care providers will also receive additional resources, including increased funding for vaccine production, distribution and administration.
Are There Any Negatives with the New COVID-19 Bill?
While the proposed bill does offer financial relief for individuals and families, there are some areas where it falls short. For example, the bill fails to extend the eviction moratorium or provide a comprehensive plan to help struggling renters. It also does not contain a provision that would raise the federal minimum wage from $7.25/hr to $15/hr. Finally, it lacks measures that would help protect immigrant workers and communities from exploitation by employers.