Phase 3 5 Stimulus Bill Text

Senate s phase 3 coronavirus bill the u s.

Phase 3 5 stimulus bill text. After an eight month stop and start test of endurance congress passed a 900 billion covid relief and 1 4 trillion government funding package that gives critical pandemic aid to americans while securing federal agency operations through september 2021. A definition of covered period in this section the term covered period means the period beginning on march 1 2020 and ending on december 31 2020. A summary of the phase 3 5 package which largely amends the previous stimulus legislation follows.

The bill will have a 310 billion set aside for paycheck protection program which gives grants to small businesses that can t pay their workforces. If you are a small business owner the covid 19 stimulus package that congress passed on monday evening december 21 2020 has some very good news. Senate this evening released text of a bill the coronavirus aid relief and economic security act cares act to serve as the phase 3 covid 19 bill.

While no additional state and local aid was provided an extension of the deadline by which the coronavirus aid relief and. B increased eligibility for certain small businesses and organizations 1 i n general during the covered period any business concern private nonprofit organization or public nonprofit organization which employs not more. Full text of final bill amendments to the paycheck protection program ppp economic injury.

A breakdown of the major funding provisions included in the phase 3 5 bill is below. Provides tax deductions and other relief. Senate s phase 3 coronavirus bill covid 19 text of u s.

Key provisions 2 2 trillion stimulus package 504 billion in corporate loans and grants 17 billion for companies deemed critical to national security 425 billion for other businesses cities and states allocated through funding mechanisms set up by the federal reserve. The 900 billion covid 19 stimulus bill of december 2020 improves the paycheck protection program ppp2. President donald trump signed the 484 billion phase 3 5 emergency interim coronavirus relief package into law inside of the oval office on friday after congress passed legislation earlier in the week to replenish the paycheck protection program ppp for small businesses and add billions of dollars in aid to hospitals across the country amid the covid 19 crisis.

The senate on tuesday passed a nearly 500 billion coronavirus phase 3 5 relief bill that would replenish a small business rescue program known as the paycheck protection program ppp provide.