Congress Reaches Final Agreement , on COVID Relief Package.
Compromise on the $900 billion stimulus was reached on Sunday afternoon.
The bill allocates money for $600 stimulus checks for single adults who make less than $75,000 a year.
And for both adults and children under the age of 16 of families who make less than $150,000 per year.
Also included is a $300 weekly boost in unemployment assistance for 11 weeks, as well as the continuance of two other unemployment programs. The bill provides an additional $280 billion in funding for the Paycheck Protection Program, and several grant programs for specific industries.
$25 billion has been allocated for rental assistance, the eviction moratorium will be extended and $13 billion has been allocated for food assistance programs. At long last we have the bipartisan breakthrough the country has needed, Sen.
Mitch McConnell, (R-KY), Senate Majority Leader, via 'The Wall Street Journal'.
McConnell said that what remained for passage of the bill was for lawmakers to "finalize text, avoid any last- minute obstacles and cooperate.".
This agreement is far from perfect, but it will deliver emergency relief to a nation in the throes of a genuine emergency, Sen.
Chuck Schumer, (D-NY), Senate Minority Leader, via 'The Wall Street Journal'.
Schumer also stated that more relief would be necessary in the new year
