CCEDC would like to share information regarding the new COVID-19 Relief Bill! Below is a major part of the new information that was shared. Please watch for updates as we move forward!
Key provisions in the bill includes $325 billion in aid for small businesses detailed as followed:
•$284 billion to the U.S. Small Business Association (SBA) for the first and second PPP forgivable small business loans
•$20 billion to provided Economic Injury Disaster Loan (EIDL) Grants to businesses in low-income communities
•$15 billion for live venues, independent movie theaters, and cultural institutions
•$12 billion to help business in low-income and minority communities
$166 billion for economic impact payments of $600 for individuals making up to $75,000 per year and $1,200 for married couples making up to $150,000 per year, as well as a $600 payment for each child dependent.
$120 billion to provide workers receiving unemployment benefits a $300 per week supplement from Dec. 26 until March 14, 2021. This bill also extends the Pandemic Unemployment Assistance (PUA) program, with expanded coverage to the self-employed, gig workers, and others in nontraditional employment, and the Pandemic Emergency Unemployment Compensation (PEUC) program, which provides additional weeks of federally funded unemployment benefits to individuals who exhaust their regular state benefits.
Please continue to follow CCEDC as more information is released.