On Friday, the the House of Representatives passed a new COVID-19 stimulus bill that, if it becomes law, would be the largest aid package in American history, with a price tag of more than $3 trillion. The 1815-page bill, called the Heroes' Act, includes new funding for state and local governments, contact tracing programs, testing, and more direct payments to Americans (up to $6000 per family). It was largely supported by Democrats. Read on to see the highlights of what you need to know about the historic bill. We will be tracking it closely, and will provide updates as it moves through Congress.
Bolstered Funding for Unemployment, the SBA and Essential Workers
The bill includes a number of jobs-related funding measures and protections, including:
-About $1 trillion to state and local governments to protect the jobs of essential workers like frontline medical staff and teachers.
-A $200 billion "Heroes' Fund" to go to hazard pay for essential workers.
-$10 billion in additional funding to the Small Business Administration for EIDL loans.
-Extension of weekly federal $600 unemployment benefits through January of 2021. Currently, the extra $600 a week people are receiving on top of state unemployment is set to expire in July.
-Protections for workers who report infections or inadequate safety measures on the job.
-Enhanced tax credits to employers to incentivize keeping workers on payroll.
More Money for Coronavirus Testing, Care and Contact Tracing Programs
The bill also includes significant increases to coronavirus contact tracing and testing programs as well as safeguards to ensure affordable treatment. They include:
-$75 billion in funding for coronavirus testing,care and contact tracing. Learn more about what contact tracing entails here.
-Subsidies to Americans who are laid off to help them extend their health insurance.
-A special enrollment period in the ACA exchange especially for the crisis.
SURVEY: Do you feel the first stimulus was enough or not? Create a free Skip account and answer on your dashboard. You'll see instant results and we use the survey in our letter writing to Congress.
More Direct Aid to Families
The bill also includes a number of direct aid proposals for American families. They include:
-A second round of larger stimulus checks that would provide $1200 per person for up to $6000 in aid per family. This would be a departure from the current round for payments--$1200 is currently the maximum but many people receive less, and children receive only $500.
-A 15% increase to the Supplemental Nutrition Assistance Program (SNAP) benefit amount to help families who need food assistance
-$175 billion in housing assistance funding
Republican Resistance
Republicans in the Senate have stated that they will not support the bill, so its unknown if it will pass and become law. Lindsey Graham stated that the bill was "dead on arrival" and would not be supported in the Senate.
Although the bill might not pass in its current state, it is possible a version of it that includes some, but not all, of the current funding will become law. You can check back here for all the information on the bill as it moves through the Congressional process.
In the meantime, we are doing everything we can to help people ride out this crisis with the tools we have available. You can learn more about Skip's coronavirus response here and access all the resources that we have compiled to help you stay safe and get the assistance you need.