CONGRESS SENDS PRESIDENT MASSIVE BILL TO KEEP GOVERNMENT RUNNING, PROVIDES STIMULUS FOR AMERICANS – DEADLINE FOR CARES CRF SPEND ALSO EXTENDED
Congress has passed a massive spending package including $1.4 trillion to fund the government and a $900 billion in fiscal stimulus. Of note in the stimulus portion of the bill is a provision that would extend the spend deadline to December 31, 2021, for the Coronavirus Aid, Relief, and Economic Security (CARES) Act’s Coronavirus Relief Fund (CRF) dollars already appropriated. No additional flexibility or funding was provided despite urging by state and local governments. Direct aid to state and local governments for lost revenue, which was debated for months, was not included in the final language.
Among the more newsworthy items were 11 weeks of additional $300 unemployment assistance and $600 stimulus checks to individuals. Also included were additional funds for things such as vaccine distribution, rental assistance, and education relief. Business also gained additional relief in the package, with small businesses to receive more than $300 billion in loans.
While the bill is on it’s way to the President’s desk, Congress did pass a seven-day continuing resolution giving the President until December 28 to sign the bill. A summary of each division of the bill has been prepared by the House Appropriations committee giving an overview of the various portions of the bill.
Among the more newsworthy items were 11 weeks of additional $300 unemployment assistance and $600 stimulus checks to individuals. Also included were additional funds for things such as vaccine distribution, rental assistance, and education relief. Business also gained additional relief in the package, with small businesses to receive more than $300 billion in loans.
While the bill is on it’s way to the President’s desk, Congress did pass a seven-day continuing resolution giving the President until December 28 to sign the bill. A summary of each division of the bill has been prepared by the House Appropriations committee giving an overview of the various portions of the bill.