President Donald Trump has signed into law the new $900 billion COVID-19 aid package that will bring relief to many individuals and businesses that are the most affected by the pandemic, according to a staff report from The Wall Street Journal.
The three main components of the bill will benefit households and workers.
The legislation has authorized the second round of direct payments. This time, each household will receive $600 for each adult and $600 for each dependent, based on their income in 2019.
Workers who are currently jobless, including gig workers, are eligible for a federal unemployment subsidy of $300 per week. This subsidy will be available through March 14.
The bill also provides rental assistance to tenants in arrears on their rent and extends the federal evection prohibition until the end of January.
Four main components are included as part of the COVID-19 response.
Grants for child-care providers and the Head Start program. Schools and colleges will also receive aid, the majority of which will be allocated to public schools.
In addition, the bill allocates funds for states for testing, tracing, and COVID-19 mitigation programs, while states and federal agencies will receive funding for vaccine distribution.
Big and small businesses will also receive aid from the funds.
Airlines will get funds to reemploy laid-off workers at least for a few months. Meanwhile small lenders will receive support, as will entertainment venues.
Finally, the agricultural sector will receive another multibillion-dollar injection that will go toward crop farmers, cattle ranchers, and rural communities.
A new round of forgivable Paycheck Protection Program loans for small businesses now expands eligibility for local newspapers and TV and radio broadcasters.
U.S. Postal Service and Amtrak will also receive support. A tax credit will be provided for struggling employers.
Read more about the relief bill at The Wall Street Journal by clicking here.