The latest on the Covid Relief Bill and other benefits
In the coming days, the US government will pass the Covid Relief Bill, a widespread, multi-faceted $1.9 trillion coronavirus relief program. Here’s the latest on the latest developments in the Covid Relief Bill.
The U.S. government recently announced a two-week deadline in which to pass the new Covid Relief Bill. This set in motion a series of events in the days that followed, with President Joe Biden’s $1.9 trillion bailout package passing through the Democrat-held Senate by a simple majority, with no Republican votes required, and it was also stated that the details of the bill would soon follow. The budget resolution passed in the Senate has already begun directing committees to draft legislation that reflects the proposed elements of the Covid Relief Act while staying within the $1.9 trillion budget.
What is currently happening with the Covid Relief Bill?
The budget resolution directs each chamber’s committees to draft detailed legislative texts, taking into account the resolution’s voting instructions, all of which will be combined into one relief package along with what President Joe Biden has already proposed.
So much has been clarified so far: They’re targeting, among other things, $400 a week in unemployment benefits through September, $1,400 in direct payments, $350 billion in state, local and tribal government aid, $170 billion for K- 12 schools and higher institutions, the establishment of a $30 billion rental and utility assistance fund, as well as a $20 billion national Covid furlough program and $50 billion dedicated to Virus tests are provided.
Several changes have been made to the bill so far, most of which were considered to support restaurants and bars, while a few others aimed to block high-income households from receiving the $1,400 stimulus grants. The remaining amendments also highlighted various aspects of the Covid Relief Act that are still unclear, but committees are already working on bills that will remove any looming uncertainties surrounding the law.
What are the next steps?
The Budgets Committee is expected to receive each committee’s legislation by February 16 to further advance the Covid Relief Bill and complete any pending amendments to the newly created legislation. The goal is to approve the final bill by March 14, right around the time additional unemployment and pandemic relief measures expire. Funds for virus testing and vaccine distribution, direct payments to multi-member households, reopening schools and business aid to small and medium-sized businesses are at risk unless the Covid Relief Act is approved and implemented as planned.
What about other Covid relief services?
Aside from the Covid Relief Bill, the US government’s response to the coronavirus pandemic has included a slew of government benefits, grants, and loans that citizens, businesses, and organizations can apply for.
The latest information on the Covid Relief Bill and other health and safety benefits can all be found on the US government response to coronavirus Website, including information about Short-term disability benefits to help older adults and people with disabilities, guidance for military personnel and their families, counseling for volunteer and outreach programs, and information on various other health and safety issues. The page also contains various links to information direct from federal agencies about how they plan to respond to the coronavirus pandemic.
What do we do now?
Multifaceted, the Covid Relief Bill is designed to simultaneously boost the economy through out-of-pocket payments and the federal $400-a-week unemployment insurance program, and provide the healthcare industry with the equipment and financial support it needs to support widespread immunization programs, virus testing and contact tracing, and the provision of supplies and protective equipment for medical personnel.
The Covid Relief Bill is expected to be approved by March 14 and most likely implemented shortly thereafter; But even if everything goes according to plan, the goal of the bill is not immediately measurable, as the coming months will show.