• Daily Illinois
  • About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us
Monday, May 16, 2022
Daily illinois - USA | News, Sports & Updates Web Magazine
  • Covid-19
  • News
    • All
    • Business
    • Education
    • Politics
    • Sports
    • World
    Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

    Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

    amaBhungane | How fuel thieves siphon off millions from Eskom power station

    amaBhungane | How fuel thieves siphon off millions from Eskom power station

    First Lady Jill Biden speaks as President Biden, right, hosting a Cinco de Mayo reception in the Rose Garden of the White House in Washington, D.C. on Thursday, May 5, 2022. (Photo by Yasin Ozturk/Anadolu Agency via Getty Images)

    Buffalo mass shooting: President Biden to visit city following attack police say was racially motivated

    Josh Lambo gets an earful from Jacksonville Jaguars head coach Urban Meyer after missing a field goal last season.

    Kicker Sues NFL’s Jaguars, Accuses Ex-Coach Urban Meyer Of Physical, Verbal Abuse

    Billionaire Adani to buy Holcim’s India cement biz for $10.5bn | Business and Economy News

    Billionaire Adani to buy Holcim’s India cement biz for $10.5bn | Business and Economy News

    Parker Conrad’s Rippling Hits $11.25 Billion Valuation As Former Zenefits CEO Rebounds With HR Software

    Parker Conrad’s Rippling Hits $11.25 Billion Valuation As Former Zenefits CEO Rebounds With HR Software

    A tree

    I gave ‘forest bathing’ a go and it instantly helped my mental health

    Suspicious Clarence Thomas Complains He's 'Looking Over' His Shoulder Since Leak

    Suspicious Clarence Thomas Complains He’s ‘Looking Over’ His Shoulder Since Leak

    Carter Verhaeghe scores in overtime as Florida Panthers eliminate Washington Capitals in Stanley Cup playoffs

    Carter Verhaeghe scores in overtime as Florida Panthers eliminate Washington Capitals in Stanley Cup playoffs

    Russia-Ukraine war: Ukrainian general predicts when war will end; UK warns Russia likely to rig referendums in Ukraine – live | Ukraine

  • Science & Tech
    • All
    • Ai - Artificial Intelligence
    • Apps
    • Mobile
    What time is the Blood Moon lunar eclipse?

    What time is the Blood Moon lunar eclipse?

    Norm Macdonald Recorded a New Netflix Comedy Special Before He Died

    Elon Musk Says Some Twitter Users Will Have To Pay To Use Platform

    Elon Musk Says Some Twitter Users Will Have To Pay To Use Platform

    Tether (USDT) stablecoin drops below $1 peg

    Tether (USDT) stablecoin drops below $1 peg

    An Elusive Gravity Signal Could Mean Faster Earthquake Warnings

    An Elusive Gravity Signal Could Mean Faster Earthquake Warnings

    The iOS App Icon Book Review

    The iOS App Icon Book Review

    The best thing about the DJI Mini 3 Pro might surprise you

    The best thing about the DJI Mini 3 Pro might surprise you

    Do You Really Need Both A Phone Case and A Screen Protector?

    Do You Really Need Both A Phone Case and A Screen Protector?

    Gentler Streak for Apple Watch adds workouts voice feedback, now tracks housekeeping, gardening, more

    Gentler Streak for Apple Watch adds workouts voice feedback, now tracks housekeeping, gardening, more

    Igor Bonifacic

    ‘League of Legends’ mocumentary ‘Players’ heads to Paramount+ on June 16th

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Lebanon is in political crisis. Sunday’s elections won’t change that.

    Lebanon is in political crisis. Sunday’s elections won’t change that.

    Walter Huston, left, and James Craig in 1941's "All That Money Can Buy" directed by William Dieterle.

    Must-see films at 2022 UCLA Festival of Preservation

    A slide show featuring Paul McCartney and his former band, The Beatles , entertains the crowd before the concert.

    Paul McCartney is still the world’s most charming rock god

    Russian war effort runs into diplomatic, military hurdles

    Russian war effort runs into diplomatic, military hurdles

    'Pleasure' review: Interrogating the male gaze through a porn lens

    ‘Pleasure’ review: Interrogating the male gaze through a porn lens

    At Cruel World, goths and new wavers will sweat to the oldies

    At Cruel World, goths and new wavers will sweat to the oldies

    Why Do The Black Keys Still Feel Like Underdogs?

    Why Do The Black Keys Still Feel Like Underdogs?

    Kendrick Lamar raps about trans relatives in new song sparking praise and criticism

    Kendrick Lamar raps about trans relatives in new song sparking praise and criticism

    A man with headphones around his neck and a red solo cup in his right hand and a fleece blanket draped over his shoulder

    Jerrod Carmichael on coming out, depression and the pandemic

    Ashley Judd confirms mother Naomi Judd's cause of death

    Ashley Judd confirms mother Naomi Judd’s cause of death

    • F95zone
  • Lifestyle
    • All
    • Fashion
    • Food
    • Travel
    Family and community members marched around the neighborhood, held up roses as they marched.  The group prayed in the street in front of the Tops Friendly Market on Jefferson Ave., in Buffalo, NY on May 15, 2022. 10 people were killed and three others injured in a shooting at the Buffalo grocery store on May 14, 2022.

    Buffalo shooting leaves close-knit neighborhood an epicenter of grief

    New photo exhibit offers behind-the-scenes look at a house ball in 1984 Harlem – New York Daily News

    New photo exhibit offers behind-the-scenes look at a house ball in 1984 Harlem – New York Daily News

    Just because it's in California doesn't mean San Francisco is always warm and sunny.

    Mistakes Tourists Make While Visiting San Francisco

    Traveling Light This Summer? How To Style One Dress 5 Ways

    Traveling Light This Summer? How To Style One Dress 5 Ways

    Abbott Laboratories corporate logo

    Abbott Laboratories eyes May return to production at under-scrutiny plant

    Don't date a man who treats you like leftovers

    Don’t date a man who treats you like leftovers

    The Three Most Upgraded Stocks You Can Buy Now 

    The Three Most Upgraded Stocks You Can Buy Now 

    Firms plan to use balloons to go to space in 2024

    Firms plan to use balloons to go to space in 2024

    Kelsea Ballerini's Easy Skincare-and-Beauty Routine

    Kelsea Ballerini’s Easy Skincare-and-Beauty Routine

    baby infant formula

    CDC closes infant formula outbreak investigation; FDA continues work to find source; USDA works to resolve shortages

33 °f
Chicago
35 ° Sat
35 ° Sun
35 ° Mon
37 ° Tue
No Result
View All Result
Daily illinois - USA | News, Sports & Updates Web Magazine
  • Covid-19
  • News
    • All
    • Business
    • Education
    • Politics
    • Sports
    • World
    Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

    Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

    amaBhungane | How fuel thieves siphon off millions from Eskom power station

    amaBhungane | How fuel thieves siphon off millions from Eskom power station

    First Lady Jill Biden speaks as President Biden, right, hosting a Cinco de Mayo reception in the Rose Garden of the White House in Washington, D.C. on Thursday, May 5, 2022. (Photo by Yasin Ozturk/Anadolu Agency via Getty Images)

    Buffalo mass shooting: President Biden to visit city following attack police say was racially motivated

    Josh Lambo gets an earful from Jacksonville Jaguars head coach Urban Meyer after missing a field goal last season.

    Kicker Sues NFL’s Jaguars, Accuses Ex-Coach Urban Meyer Of Physical, Verbal Abuse

    Billionaire Adani to buy Holcim’s India cement biz for $10.5bn | Business and Economy News

    Billionaire Adani to buy Holcim’s India cement biz for $10.5bn | Business and Economy News

    Parker Conrad’s Rippling Hits $11.25 Billion Valuation As Former Zenefits CEO Rebounds With HR Software

    Parker Conrad’s Rippling Hits $11.25 Billion Valuation As Former Zenefits CEO Rebounds With HR Software

    A tree

    I gave ‘forest bathing’ a go and it instantly helped my mental health

    Suspicious Clarence Thomas Complains He's 'Looking Over' His Shoulder Since Leak

    Suspicious Clarence Thomas Complains He’s ‘Looking Over’ His Shoulder Since Leak

    Carter Verhaeghe scores in overtime as Florida Panthers eliminate Washington Capitals in Stanley Cup playoffs

    Carter Verhaeghe scores in overtime as Florida Panthers eliminate Washington Capitals in Stanley Cup playoffs

    Russia-Ukraine war: Ukrainian general predicts when war will end; UK warns Russia likely to rig referendums in Ukraine – live | Ukraine

  • Science & Tech
    • All
    • Ai - Artificial Intelligence
    • Apps
    • Mobile
    What time is the Blood Moon lunar eclipse?

    What time is the Blood Moon lunar eclipse?

    Norm Macdonald Recorded a New Netflix Comedy Special Before He Died

    Elon Musk Says Some Twitter Users Will Have To Pay To Use Platform

    Elon Musk Says Some Twitter Users Will Have To Pay To Use Platform

    Tether (USDT) stablecoin drops below $1 peg

    Tether (USDT) stablecoin drops below $1 peg

    An Elusive Gravity Signal Could Mean Faster Earthquake Warnings

    An Elusive Gravity Signal Could Mean Faster Earthquake Warnings

    The iOS App Icon Book Review

    The iOS App Icon Book Review

    The best thing about the DJI Mini 3 Pro might surprise you

    The best thing about the DJI Mini 3 Pro might surprise you

    Do You Really Need Both A Phone Case and A Screen Protector?

    Do You Really Need Both A Phone Case and A Screen Protector?

    Gentler Streak for Apple Watch adds workouts voice feedback, now tracks housekeeping, gardening, more

    Gentler Streak for Apple Watch adds workouts voice feedback, now tracks housekeeping, gardening, more

    Igor Bonifacic

    ‘League of Legends’ mocumentary ‘Players’ heads to Paramount+ on June 16th

  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    Lebanon is in political crisis. Sunday’s elections won’t change that.

    Lebanon is in political crisis. Sunday’s elections won’t change that.

    Walter Huston, left, and James Craig in 1941's "All That Money Can Buy" directed by William Dieterle.

    Must-see films at 2022 UCLA Festival of Preservation

    A slide show featuring Paul McCartney and his former band, The Beatles , entertains the crowd before the concert.

    Paul McCartney is still the world’s most charming rock god

    Russian war effort runs into diplomatic, military hurdles

    Russian war effort runs into diplomatic, military hurdles

    'Pleasure' review: Interrogating the male gaze through a porn lens

    ‘Pleasure’ review: Interrogating the male gaze through a porn lens

    At Cruel World, goths and new wavers will sweat to the oldies

    At Cruel World, goths and new wavers will sweat to the oldies

    Why Do The Black Keys Still Feel Like Underdogs?

    Why Do The Black Keys Still Feel Like Underdogs?

    Kendrick Lamar raps about trans relatives in new song sparking praise and criticism

    Kendrick Lamar raps about trans relatives in new song sparking praise and criticism

    A man with headphones around his neck and a red solo cup in his right hand and a fleece blanket draped over his shoulder

    Jerrod Carmichael on coming out, depression and the pandemic

    Ashley Judd confirms mother Naomi Judd's cause of death

    Ashley Judd confirms mother Naomi Judd’s cause of death

    • F95zone
  • Lifestyle
    • All
    • Fashion
    • Food
    • Travel
    Family and community members marched around the neighborhood, held up roses as they marched.  The group prayed in the street in front of the Tops Friendly Market on Jefferson Ave., in Buffalo, NY on May 15, 2022. 10 people were killed and three others injured in a shooting at the Buffalo grocery store on May 14, 2022.

    Buffalo shooting leaves close-knit neighborhood an epicenter of grief

    New photo exhibit offers behind-the-scenes look at a house ball in 1984 Harlem – New York Daily News

    New photo exhibit offers behind-the-scenes look at a house ball in 1984 Harlem – New York Daily News

    Just because it's in California doesn't mean San Francisco is always warm and sunny.

    Mistakes Tourists Make While Visiting San Francisco

    Traveling Light This Summer? How To Style One Dress 5 Ways

    Traveling Light This Summer? How To Style One Dress 5 Ways

    Abbott Laboratories corporate logo

    Abbott Laboratories eyes May return to production at under-scrutiny plant

    Don't date a man who treats you like leftovers

    Don’t date a man who treats you like leftovers

    The Three Most Upgraded Stocks You Can Buy Now 

    The Three Most Upgraded Stocks You Can Buy Now 

    Firms plan to use balloons to go to space in 2024

    Firms plan to use balloons to go to space in 2024

    Kelsea Ballerini's Easy Skincare-and-Beauty Routine

    Kelsea Ballerini’s Easy Skincare-and-Beauty Routine

    baby infant formula

    CDC closes infant formula outbreak investigation; FDA continues work to find source; USDA works to resolve shortages

33 °f
Chicago
35 ° Sat
35 ° Sun
35 ° Mon
37 ° Tue
No Result
View All Result
Daily illinois - USA | News, Sports & Updates Web Magazine
No Result
View All Result
Home Covid-19

Congress has finally reached a deal on coronavirus stimulus

by Staff Writer
December 21, 2020
in Covid-19
Reading Time: 6 mins read
0
Congress has finally reached a deal on coronavirus stimulus
493
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

At long last, Congress has reached a deal on a new coronavirus stimulus bill.

Related posts

US vice president, officials heading to UAE to pay respects

US vice president, officials heading to UAE to pay respects

May 16, 2022
North Korea Reports 8 Deaths As Kim Laments Virus Response

North Korea Reports 8 Deaths As Kim Laments Virus Response

May 16, 2022

After eight months of back and forth, Democratic and Republican leaders announced on Sunday that they’ve arrived at an agreement on a roughly $900 billion plan. The House of Representatives will vote on the bill Monday, according to House Majority Leader Steny Hoyer.

“We can finally report what our nation has needed to hear for a long time: More help is on the way,” Senate Majority Leader Mitch McConnell confirmed.

The legislation contains much-needed coronavirus relief including a weekly $300 enhancement in unemployment insurance, a new round of $600 stimulus checks, and renewed support for small businesses.

Lawmakers in both chambers will have a chance to review the bill — which is being attached to the annual government spending package — before they take a vote. Congress on Sunday approved a one-day continuing resolution in order to keep the government funded beyond the December 20 deadline they previously faced, setting up the Monday vote.

The final bill sidesteps some sticking points: Contentious provisions (including state and local aid, as well as liability protections for businesses) have been stripped out, and a last-minute disagreement over the Federal Reserve’s emergency lending authorities — one that seemed as if it might completely derail negotiations — has also been resolved.

The $900 billion legislation ultimately offers far less aid than a prior $2.2 trillion proposal House Democrats had put forth, and significantly more than the narrow $550 billion bill that Senate Republicans have favored. Democrats signaled Sunday that this wasn’t the last of the relief they planned to send out.

For now, however, this deal is the only option for additional coronavirus relief as millions of Americans grapple with unemployment, looming evictions, and soaring coronavirus case counts. “This is a good start, but a lot more needs to be done,” Senate Minority Leader Chuck Schumer said Sunday.

What the stimulus deal contains

While there’s a lot that the stimulus agreement omits, it is expected to offer much-needed aid on a few different fronts. Lawmakers have yet to release the final bill text, so here’s what we know so far:

Stimulus checks: There is a second round of stimulus checks, though they include less money than the first wave did earlier this year. These direct payments include $600 for individuals who make $75,000 a year or less in adjusted gross income, rather than the $1,200 provided in the CARES Act, the Washington Post reports. Couples who make $150,000 or less in total would be eligible for $1,200 in direct payments. Individuals and couples with children who qualify for the stimulus checks would also receive an additional $600 per child. Payments will be incrementally reduced for people who make more in annual income, much like they were earlier this year.

Unemployment insurance (UI): The plan includes an additional $300 in weekly federal UI payments through March 14, 2021. This supplemental payment is set to bolster the weekly payment that recipients would get from their state unemployment programs, much like a prior provision did in the CARES Act. The bill would also extend the pandemic unemployment insurance programs that are expiring at the end of December. These pandemic-specific programs currently provide roughly 12 million Americans with UI benefits.

Small-business support: $284 billion is dedicated to small-business aid including repurposed funding for the Paycheck Protection Program, a forgivable loan program that business owners can apply for to cover payroll and operational costs. These loans are aimed at businesses with 300 or fewer employees that have seen a 30 percent or higher decrease in revenue in any quarter this year. For many, however, this aid comes too late — according to a Fortune report, almost 100,000 small businesses have already closed permanently during the pandemic.

Rental assistance and eviction moratorium: $25 billion in rental assistance is included as well as the establishment of a federal eviction moratorium. As Vox’s Jerusalem Demsas previously reported, advocates have argued that at least $100 billion in rental aid is needed to cover current shortfalls. Additional action would be required to ensure that millions of Americans would not be evicted at the end of January.

Food aid: $13 billion for food aid to help fund a monthly 15 percent increase in individual SNAP benefits, aid for children who received food support at school, and money for other programs including Meals on Wheels and WIC (the Special Supplemental Nutrition Program for Women, Infants, and Children). Demand for such aid has spiked dramatically during the pandemic, with food banks across the country facing overwhelming need in recent months.

Paid sick leave: There is an extension of paid leave tax credits for businesses, which continues a policy established in the Families First Coronavirus Response Act. It’s not clear, however, whether the new legislation would guarantee leave for workers who have coronavirus or those caring for children dealing with school closures.

The legislation contains a number of other provisions as well, including $82 billion to help schools reopen; $15 billion in aid for airlines — which would be required to bring furloughed employees back — according to Reuters; and language that bans surprise medical bills for emergency care.

It also has new guidelines for the Federal Reserve after Republicans — led by Sen. Pat Toomey (R-PA) — demanded emergency lending programs at the Fed be canceled in any final version of the bill.

As Vox’s Emily Stewart has explained, the Fed will be forced to eliminate several emergency lending programs created with CARES Act funding in the spring, and will be barred from restarting them without congressional approval. It will also return the unused portion of the $454 billion Congress allotted it under the CARES Act to the Treasury Department, something the Fed had agreed to do in November.

The bill doesn’t provide direct aid for state and local governments, a Democratic priority, or the liability protections that shield businesses from coronavirus-related lawsuits Republicans had advocated for.

How long it will take people to receive help

Based on the timing of aid from the CARES Act, it could be a few weeks before people see direct relief from the legislation.

Earlier this year, the first round of direct payments was deposited in people’s bank accounts around mid-April: “Within two weeks of the CARES Act going into effect in March, more than 81 million payments were disbursed, totaling more than $147 billion, all through electronic transfers to recipients’ bank accounts, according to the Government Accountability Office,” CNBC reports.

People who do not have bank accounts, or whose information is not on file with the IRS, will likely see a more delayed distribution of the payments.

The timing of the implementation of enhanced unemployment insurance payments will also depend on the state. States began distributing $600 in supplemental UI roughly two weeks after the CARES Act was approved this past spring, which means the weekly $300 addition could begin in early January.

And when it comes to the Paycheck Protection Program, banks and other financial institutions began taking applications about a week after the funds were approved by Congress in March. That could set up applications for a new round of loans to kick off at the end of December or early January.

This lag time could be costly for those waiting on assistance; as Stewart has written, by the time much of this money gets to those who need it, the programs they are meant to extend will have been expired for weeks.

Nevertheless, such aid comes at a crucial time: According to the latest Labor Department report, 19 million people are currently receiving unemployment insurance. In November, job growth slowed significantly compared to the prior month, suggesting that the unemployed are facing limited opportunities for new work. And this winter, coronavirus cases are projected to soar — forcing thousands of businesses to shutter or slow their operations in order to prevent the spread of the illness.

Source by [author_name]

Related

Share197Tweet123Share49

Latest News - Daily illinois

Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

Mayor Lightfoot bans unaccompanied minors from Millennium Park after 6 p.m. in wake of 16-year-old’s fatal shooting near The Bean – Chicago Tribune

May 16, 2022
amaBhungane | How fuel thieves siphon off millions from Eskom power station

amaBhungane | How fuel thieves siphon off millions from Eskom power station

May 16, 2022
US vice president, officials heading to UAE to pay respects

US vice president, officials heading to UAE to pay respects

May 16, 2022
Lebanon is in political crisis. Sunday’s elections won’t change that.

Lebanon is in political crisis. Sunday’s elections won’t change that.

May 16, 2022
Walter Huston, left, and James Craig in 1941's "All That Money Can Buy" directed by William Dieterle.

Must-see films at 2022 UCLA Festival of Preservation

May 16, 2022
A slide show featuring Paul McCartney and his former band, The Beatles , entertains the crowd before the concert.

Paul McCartney is still the world’s most charming rock god

May 16, 2022
Russian war effort runs into diplomatic, military hurdles

Russian war effort runs into diplomatic, military hurdles

May 16, 2022
John Oliver Delivers Heartfelt Message to Alabama’s Transgender Kids, Says ‘You Are Important’

John Oliver Delivers Heartfelt Message to Alabama’s Transgender Kids, Says ‘You Are Important’

May 16, 2022
Daily illinois - USA | News, Sports & Updates Web Magazine

Copyright © 2020 Dailyillinois.com.

Navigate Site

  • Daily Illinois
  • About
  • Contact
  • Privacy
  • Terms
  • DMCA
  • Sitemap
  • Write For Us

Follow Us

No Result
View All Result
  • About Us Page
  • Contact
  • Daily illinois
  • DMCA Policy
  • Privacy Policy
  • Submit, Guest Post, Write For Us and Become a Contributor
  • Terms of Use

Copyright © 2020 Dailyillinois.com.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.