Highlights Of New Federal COVID-19 Relief Bill

December 30, 2020

In Washington over the holiday weekend, legislation was passed which seeks to provide families, workers, and businesses additional relief to help combat the negative effects of the ongoing COVID-19 pandemic.

To help Connecticut residents understand the details of this new relief bill and how it can potentially provide assistance, my office and I have compiled a list of the most useful programs included in this legislation, including loans for small businesses, unemployment benefits, and nutritional assistance. I hope you find this information helpful!

Here are the highlights of the new federal relief legislation:

  • $284 billion for the revival of the Paycheck Protection Program
    • Small businesses with fewer than 300 employees and with revenue losses of 25% percent in any quarter of 2020 may apply for a PPP loan. The legislation also gives businesses more freedom with which to spend the money received through this program. CLICK HERE to read more about the changes to the program. 
  • $600 direct payments
    • A $600 direct payment will be made to individuals making up to $75,000 per year and couples making up to $150,000 per year. An additional $600 per dependent child will also be paid to those who have dependents. Direct payments may begin to go out as soon as this week.
  • $120 billion in unemployment insurance benefits
    • Those who are unemployed will receive $300 per week through March 14th. In addition, the Pandemic Unemployment Assistance Program (which was created earlier this year for freelancers, gig workers, and self-employed individuals) will soon be accepting new applicants until March 14th.
  • $69 billion for COVID-19 testing, vaccinations, and tracking
    • More than $30 billion will be used to help states acquire and distribute vaccines, while $22 billion will be used to boost testing and tracing efforts.
  • $25 billion in rental assistance
    • Renters will be eligible for assistance if they meet the following criteria:
      • Household income is below 80% of the area median income.
      • A member of the household has qualified to receive unemployment benefits, has lost part of their income, or has undergone economic hardship due to the pandemic.
  • $10 billion for child care
    • Money will go towards child care providers to cover costs and families to help pay for child care.
  • Nutritional assistance
    • Those who receive Supplemental Nutrition Assistance Program (SNAP) benefits will see a 15% increase in benefits for the next six months. Additionally, $175 million has been approved for nutrition assistance programs for senior citizens.
 
Assistance through the Emergency Coronavirus Recovery Act of 2020, also referred to as the CARES Act extension, is on the way for tens of thousands of unemployed workers at risk of losing unemployment benefits across the state.

State leaders are committed to rolling out these programs efficiently, however, state labor agencies must wait for the U.S. Department of Labor's guidance before implementing new unemployment provisions. Guidance is expected to come out within the next few weeks.

Updates on implementation timing and program details will be released on www.FileCTUI.com as they become available. Read Governor Lamont's announcement here.

 
As more information regarding the implementation of these programs becomes available, I will of course pass that along so that you may be able to receive the assistance you need as soon as possible.