Congress Passes $900 Billion Stimulus Bill
This bill was passed late on December 21 but President Trump still needs to sign
and he is suggesting an increase to the amount of stimulus paid to individuals
to $2,000 and other changes. The details on how all included in the bill will be administered haven't been released yet.
This legislation includes:
*$284B for the Paycheck Protection Program, including dedicated funds for
very small businesses (<25 employees) and expanded eligibility for nonprofits
*$20B for new Economic Injury Disaster Loan Grants (EIDL)
*$15B in relief funding for live venues, movie theaters
*$600 individual stimulus checks, including for dependents
*Extends and modifies Employee Retention Tax Credit, replacing wages
for small business employees
*Extends the New Market Tax Credit and the Work Opportunity Tax Credit for 5 years
*Modifies and extends existing credits for paid family leave
We will keep you posted as we learn more details.