The Congress Approves a New $900 Billion Covid-19 Relief Stimulus
Due to the impacts of the Covid-19 pandemic, Congress approved a 900-billion stimulus package to address the needs of single moms who are currently weathering the effect of the crisis as federal programs bet more difficult to access. The new agreement, which was passed by the House and the Senate soon after its release extends some parts of the CARES Act, the $2.2 trillion stimulus package passed in March. Spanning almost 5,600 pages, the relief package constitutes some features that can assist millions of single moms struggling to make ends meet during this unprecedented time.
Features of the New Covid-19 Relief Package
The legislation includes direct payments, with individual adults earning an adjusted gross income of up to $75,000 annually, receiving $600. This will be based on 2019 earnings. Single moms earning up to $112,500 gets twice the amount as household heads. Eligible single moms with dependent children will receive an additional $600 per child. You cannot qualify for this relief if you are earning more than the stated amounts in a year.
Single not all single moms will be lucky to receive the federal unemployment benefits, the new Covid-19 stimulus package extended the multiple programs, which is less generous than what is provided in the CARES Act in the spring. The agreement enhances the federal jobless benefits, with an additional $300 per week for the next 11 weeks, which is half what is provided in the CARES Act in the spring. This will support single mom workers hard hit by the Coronavirus until March 14. The new agreement also provides an additional $100 per week for the same period, as an extension of Pandemic Unemployment Assistance. Single moms looking to apply for this benefit are required to provide proof of unemployment.
Targeted Aid for Small Businesses
Under the Paycheck Protection Program, the new Covid-19 Relief Package sets aside $284 billion to support single mom-owned small businesses affected by the pandemic. The latest version of the program comes with stricter terms, which are designed to correct unpopular elements of the initial one. The Paycheck Protection program also expands eligibility for assisting non-profits and the TV and radio single mom broadcasters. With the new legislation, loans of up to $2 million are given only to borrowers with 30 employees or fewer, and those who experienced at least 25% sales reductions from a year earlier in at least one quarter. Apart from that, the new Covid-19 relief package sets aside $12 billion for single mom minority-owned businesses impacted by the pandemic.
In the Economic Injury Disaster Loans, another $20 billion will be set aside to assist low-income single mothers whose businesses have been impacted by the Covid-19 pandemic. At the same time, the agreement will allocate $15 billion towards live venues, independent movie theaters, and cultural institutions, which have experienced difficulties due to the pandemic. Find out more at https://www.cbsnews.com/news/stimulus-check-600-2000-dollars-eligibility-2020-12-24/.
The new legislation extends the eviction protection program, which was to expire at the end of the year, up to January 31. Apart from that, the stimulus package has set aside $25 billion to provide rental assistance to single mothers who have lost their incomes due to the Covid-19 pandemic.
Although it does not expand on eligibility, the new agreement has raised SNAP benefits by 15% for the next six months, which is more generous than the initial program, which set the increase for at least four months. The new legislation also expands the Pandemic-EBT program to single moms with kids under the age of 6 and receive food stamps. The new legislation provides financial assistance to eligible single moms with school-age children. Find out more about the program’s expansion at https://www.cnn.com/2020/09/19/politics/congress-food-assistance-hunger/index.html. The new Covid-19 relief package sends up to $400 million to food banks and food pantries. The agreement also accounts for up to $175 million, designed to provide nutrition services to single mom seniors, including meals and wheels. It also provides $13 million monthly for the Commodity Supplemental Program, which is meant to serve more than seven hundred thousand seniors.
Financial Assistance for Schools and Childcare
The new agreement sets aside $82 billion to assist schools and colleges experiencing challenges due to the Covid-19 pandemic. Through the relief package, an additional $10 billion has been set aside to support childcare providers who are experiencing economic struggles because of the Coronavirus pandemic.
Funding for Covid-19 Vaccines and Nursing Homes
The new legislation has set aside nearly $70 billion for implementing the public health measures put in place. The legislation provides $20 billion for the purchase of vaccines, $8 billion for distribution of the vaccines, and $20 billion to compliment States’ test-and-trace programs.
Assistance with Unexpected Medical Bills
The legislative deal will also help millions of single mothers avoid unexpected medical bills, including those that can spawn from hospital visits. The hospitals will be refrained from charging emergency treatments such as those involving transport on air that patients cannot say no to.