Write a commentThe Coronavirus Response and Relief Supplemental Appropriations Act, providing $900 billion for coronavirus assistance, has been signed by President Trump.
The legislation included:
- An extension of the unemployment benefits expansion, through March 14, 2021, providing an additional $300 per week to supplement state and federal unemployment benefits.
- $284 billion for the Paycheck Protection Program (PPP), extension of the PPP through March 31, 2021, and critical funding and policy changes.
- $3.5 billion for SBA to resume principal and interest payments on 7(a), 504 and microloan programs for qualifying loans, approved prior to the CARES Act, for 3 months beginning February 2021.
- $15 billion for SBA grants of up to $10 million to shuttered venue operators (live venues, independent movie theaters, etc.).
- $20 billion for EIDL Advance grants.
- One-time direct payments of $600 for individuals making up to $75,000 and $1,200 for couples making up to $150,000.
Please note that it may take time to fully implement the above programs. More information will be made available as it is received.
