Following a record 25-hour debate that went through the night on Saturday, the Senate passed its amended version of the $1.9 trillion American Rescue Plan for COVID relief along party line votes. Here are some of the key allocations in the Senate version of the bill:
(important) $1.25 billion additional funds for the Shuttered Venue Operators Grant program with the new allowance that entities can apply for both PPP and SVOG for a net award.
$15 billion for additional EIDL funds, with loans prioritized for hardest hit businesses with fewer than 10 employees.
$7.25 billion additional funds for Paycheck Protection Program.
$135 million for the NEA, $135 million for the NEH, $200 million for IMLS, and $175 million added for CPB.
What’s Next: Now that the Senate passed its version, it heads back to the House of Representatives for a vote on the identical bill -- the vote is expected today or Wednesday. If it passes, it will head to Biden's desk for signature. The target date for enactment is before March 14, 2021.