You may have heard that Congress finally came together and agreed upon a new relief package.  Everyone expects the House to pass it today, followed by the Senate.  If all goes as planned, there will be a new stimulus payment of $600.00 to qualifying individuals.

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Now, what does the bill contain?

The measure contains an up to $600 direct payment to most Americans, and $600 per child, House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., said in a statement. That is less than the $1,200 checks approved in the spring. It would also include $1,200 for couples making up to $150,000 a year.

Are unemployment benefits extended?

The bill would extend all pandemic unemployment programs set to expire at the end of December. It’s unclear for how long.

Those benefits would likely be extended for 11 weeks of unemployment, according to The Washington Post. They aren’t retroactive.

Are there enhanced unemployment benefits?

The measure would provide a federal unemployment benefit of $300 a week for up to 11 weeks through mid-March, less than the $600 provided under the Coronavirus Aid, Relief and Economic Security Act passed in March.

The bill also would give an additional federal benefit of $100 weekly to those who earned at least $5,000 a year in self-employment income, but are disqualified from receiving a more generous Pandemic Unemployment Assistance benefit because they are eligible for state jobless aid, according to The New York Times.

Is paid sick leave included?

The agreement provides a tax credit to support employers offering paid sick leave, based on the framework of the Families First Coronavirus Response Act, enacted in March, according to Pelosi and Schumer’s statement.

Families First required many employers to provide workers with two weeks of sick leave related to COVID-19 at full pay, and up to 12 weeks of family and medical leave to care for family members at two-thirds pay.

As many as 87 million workers could lose access to emergency paid leave at the end of the month. If those benefits aren’t extended, it would limit workers’ ability to stay home to quarantine after COVID-19 exposure, or care for a child whose school or daycare is closed.

Are eviction moratoriums extended?

Yes. It would offer $25 billion in emergency rental assistance and provide an extension of eviction moratoriums. It’s unclear for how long based on Pelosi and Schumer’s statement.

The latest legislation extended the moratorium through Jan. 31, The New York Times said.

The loss in jobless aid and other stimulus relief would have put 30 to 40 million people at risk of eviction as moratoriums were set to expire in January, according to the Aspen Institute, a think tank.

Will student loan forbearance continue?

Pelosi and Schumer didn’t mention an extension to student loan relief on Sunday. Though lawmakers have called for a continuation on federal student loan forbearance. It’s unclear if it will be in the final version of the bill.

Earlier this month, President Donald Trump paused federal student loan payments for another month through Jan. 31.

What else is in the package?

The package includes an extension of the small business Paycheck Protection Program, which expanded eligibility to local newspapers, broadcasters and nonprofits. It will direct another $20 billion to small business grants and $15 billion to live event venues.

The measure increased funding for vaccine distribution and coronavirus testing.

It also provided $13 billion in increased benefits for the Supplemental Nutrition Assistance Program, or SNAP.