The House Democrats released a new proposed bill today with a staggering $3 trillion price tag. Designed to aid the coronavirus pandemic’s continued devastating effects on the economy, the 1,800-plus page bill includes main provisions, among others such as:

  • Another round of direct payments up to $6,000 per household
  • An extension of the $600 per week federal unemployment insurance benefit through January 2021, set to currently expire after July 2020
  • An additional $520 million for the Internal Revenue Service (IRS)’s fiscal year budget for coronavirus response and the extended filing season
  • Nearly $1 trillion in relief for state and local governments
  • Hazard pay for essential workers who face heightened health risks during the crisis
  • $10 billion in emergency disaster assistance grants and a strengthened employee retention tax credit for small businesses
  • Renter and homeowner protection from eviction and foreclosures
  • Additional coronavirus testing and contact tracing

This latest bill, expected to be brought to a vote by the end of the week, would become the most expensive spending package in U.S. history – trumping the $2.2 trillion measure Congress passed in March. Stay tuned for more information as the bill progresses. If you have any questions related to how various coronavirus relief bills impact you or your business, contact us today.