Key Highlights
Nearly $900B bipartisan breakthrough after months of bickering“…far from perfect, but it will deliver emergency relief to a nation in the throes of a genuine emergency”Summary of what known so far
It’s taken months and months, along with much suffering, to come to some sort of bipartisan agreement on a second COVID relief package but it’s here.  This package totals nearly $900B to include $600 direct payments to qualifying Americans, a $300 boost in unemployment benefits and funding for small business aid and vaccine distribution.
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This relief package is only the second major legislation in response to the COVID pandemic since March when the $2T CARES Act was passed.  There are some glaring omissions within this package that lawmakers had to remove in order to achieve this compromise measure…sizable aid to cash-strapped state and local governments and a sweeping liability shield to protect businesses from COVID-related lawsuits.  Additionally, Republicans had to vastly scale back demands that would have prevented the chair of the Federal Reserve from establishing similar CARES Act-like facilities to appropriate aid.
Here’s what we know about this legislation at this point in time:
Direct stimulus payments of $600 to adults earning up to $75,000Revived lapsed supplemental federal unemployment benefits at $300/week for 11 weeksContinue and expand federal payments (unspecified) for gig workers and freelancers and extend payments to workers whose benefits have expiredMore than $284B for businessesRevival of Paycheck Protection Program and expand its eligibility to include nonprofits, local