Can Congress settle on a new plan to get economic relief out before the end of the year?
Sarah Tew/CNET
After months of making little progress on a bill to provide more economic assistance for individuals and families, members of Congress have produced three known frameworks for more aid. First, there’s the Democrats’ latest proposal that we so far know little about. Then on Tuesday morning, a bipartisan group of Senators introduced a proposal for a new economic relief bill that would include more weekly unemployment money, but not a second stimulus payment. Shortly after that, Senate Majority Leader Mitch McConnell released details of his revised plan for another rescue bill that also passed over a direct payment for qualified individuals.
With COVID-19 cases and weekly unemployment numbers once again growing, many individuals and families will face increasing pressure through the end of 2020 and into 2021 to make ends meet. Without Congress acting this year, the last economic programs that provide money and protection from evictions are set to expire by Dec. 31.
If the country goes into 2021 without more federal economic aid, President-elect Joe Biden said on Tuesday he is ready to present his own relief plan (it could be based on this) after he takes office on Jan. 20.
Until then, here are the major categories of funding currently under discussion.
This story was updated with new information.
Renewed federal unemployment benefits
The CARES Act passed in March gave $600 per week to unemployed workers, on top of their usual unemployment check. When this funding lapsed at the end of July, President Donald Trump signed an executive action to pay a $300 per week bonus. That money will run out by Dec. 31.
The bipartisan Senate proposal — created by more than a dozen Senators including Democrats Joe Manchin and Mark Warner and Republicans Mitt Romney and Susan Collins — would provide $300 per week in additional federal unemployment benefits for four months.
McConnell’s plan would extend some of the CARES unemployment aid for one month into January but does not set a dollar amount.
Watch this:
Next stimulus checks: What to expect
3:03
Extended Payroll Protection Program to fund small business wages
The Payroll Protection Program initially provided forgivable loans to small businesses to help cover worker wages and help keep employees on the books instead of laying them off.
The new bipartisan Senate proposal would add $300 billion to the Paycheck Protection Program for small businesses. McConnell’s plan would also provide $300 billion to fund the loans.
Additional renter protections from evictions
The CARES Act established a nationwide ban on evictions for renters who were late on rent. When that was set to expire, Trump extended the ban, but that extension, too, is set to expire at the end of the year.
According to the Washington Post, the new Senate proposal would guard against evictions through “rental assistance funding.” In a press conference following the announcement, the Senators provided little beyond calling the protections “housing and rental assistance.”
In a description of his bill the Senator reportedly sent to fellow Republicans, McConnell does not mention continuing eviction protections.
Both sides are weighing the options for an eventual stimulus package.
Sarah Tew/CNET
Funding for health care and COVID-19 vaccinations
With the country poised to release the first wave of coronavirus vaccines as soon as this month, the proposals turn toward funding distribution of the vaccine.
“On COVID relief, we acknowledged the recent positive developments on vaccine development and the belief that it is essential to significantly fund distribution efforts to get us from vaccine to vaccination,” House Speaker Nancy Pelosi said in a statement Tuesday.
The bipartisan Senate proposal would provide $50 billion for vaccine distribution along with funding coronavirus testing and contact tracing efforts. McConnell’s bill sets out $16 billion for testing and tracing, with support for vaccine manufacturing.
Liability protection to shield businesses from COVID-19 lawsuits
Republican legislators have supported limiting COVID-19 liability since this summer, which are designed to curtail a rush of lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions caused them to acquire the coronavirus, except for instances of gross negligence.
The bipartisan Senate plan sets out a six-month moratorium on some coronavirus-related lawsuits against organizations, giving states enough time to create their own liability protections, the Senators said. McConnell’s liability protections would be more sweeping and preempt state laws.
School and child-care funding
Funding for education has been a part of proposals for more economic assistance going back to May. The bipartisan plan would set aside $82 billion for education and another $10 billion for child care. McConnell’s plan would also pay for education and child care, setting out $105 billion to “help get students back to school,” from elementary schools to higher education.
No stimulus check until 2021?
While we don’t know the details of the latest Democratic plan, the bipartisan bill would leave out a second economic stimulus check to keep the overall cost of the bill down.
McConnell’s plan also leaves out another direct payment. After President-elect Joe Biden is sworn in on Jan. 20, his administration could seek a follow-up bill with a bigger price tag that could include a second payment of up to $1,200.
While we wait to see how and when negotiations shake out over the current proposals, here’s what you need to know about coronavirus hardship loans, unemployment insurance and what you can do if you’ve lost your job.
