Eligible families will receive an additional $ 600 per child – which is $ 100 more than Congress gave families in the first relief last spring.
Payments are starting to phase out for individuals with adjusted gross income of more than $ 75,000, and those earning more than $ 99,000 will receive nothing. The revenue thresholds are doubled for couples.
The amounts will be based on the income of 2019. Those who submitted their tax returns for 2019 will automatically receive their money, as well as recipients of Social Security and those who uploaded their bank account information using the IRS’s online portal to their first to receive payments.
Undocumented immigrants who do not have the social security number will not be eligible for the payments. But in a first-round change, their spouses and children are now eligible, as long as they have social security numbers.
The unemployed will receive a federal benefit of $ 300 a week until March 14. The amount is half of the previous federal boost, which expires at the end of July.
Because Trump waited until Sunday to sign the legislation, many Americans who do not work can only receive ten weeks supplemental payments, instead of 11 weeks.
The unemployment assistance program for pandemics initially extended unemployed benefits to workers, freelancers, independent contractors, the self-employed and certain people affected by the coronavirus. for up to 39 weeks. The Unemployment Benefit Program in Emergencies for Pandemics paid 13 weeks extra for those who utilized their usual state benefits.
Both programs will now be close to new applicants on March 14, but will continue until April 5 for existing claimants who have not yet reached the maximum number of weeks.
The measure also offers an additional $ 100 per week in federal funding to those who have at least $ 5,000 in annual self-employment income but do not receive Pandemic Unemployment Assistance because they are eligible for ordinary state unemployment benefits.
In addition, the package gives states the power to waive overpayments in cases where the plaintiff is not at fault.
The final agreement is less generous than the original bilateral agreement issued earlier this month. That would have yielded 16 weeks of improved payments and pandemic benefits.
The package also continues through federal funding of extended benefits until mid-March, offering up to 20 additional pay weeks, depending on a state’s unemployment rate. Usually states and the federal government split the tab. Less than two dozen states now offer extensive benefits due to the improving economy.
Small Business Loans
The second loans will be limited to those with less than 300 employees who fell by at least 25% of their income during the first, second or third quarter of 2020. the amount a borrower can receive from $ 10 million to $ 2 million gives businesses more flexibility on how to spend the money and simplifies the forgiveness process for loans under $ 150,000.
It carves out $ 12 billion for minority-owned businesses. It also increases the suitability for more non-profit organizations, local newspapers, TV and radio broadcasters.
Awards for theaters and other live venues
Create the package a $ 15 billion grant program for live venues, theaters and museum operators that have lost at least 25% of their revenue.
The initial grant could amount to up to $ 10 million per eligible business. A second grant, worth half the amount, may also be available.
The money is for specified expenses, such as payment costs, rent, utilities and personal protective equipment.
During the first 14 days of implementation of the program, grants will be awarded to those who have lost 90% of their income. Those who have experienced at least 70% income losses will be eligible for the next two weeks. After the first month of the program, other eligible businesses may receive grants.
Funding for schools and childcare
An additional $ 10 billion has been included to support childminders who have struggled due to the pandemic.
It runs until 31 January when the eviction protection expires at the end of the year. It also provides $ 25 billion in rental assistance to individuals who lost their income during the pandemic.
The package increases SNAP benefits for six months by 15%, but does does not extend the suitability. This is wider than the original two-party agreement of earlier in December, which called for the four-month increase.
Democrats have advocated since the start of the pandemic for the supplement to the supplementary nutrition aid program, or SNAP, as food stamps are formally known, but the provision has never made it into previous relief packages.
Send the package $ 400 million to food banks and food pantries through the Food First Aid Program.
It also offers $ 175 million for nutrition services for the elderly, such as Meals on Wheels, and $ 13 million for the Commodity Supplemental Food Program, which serves more than 700,000 older Americans each month.
Vaccination and hospital financing
It provides $ 20 billion for the purchase of vaccines, making it available free of charge to those who need it, as well as another $ 8 billion for the distribution of vaccines.
It also has gives states $ 20 billion to help with the test.
And that adds $ 3 billion to the $ 175 billion fund for hospitals and healthcare providers to reimburse healthcare-related expenses or lost revenue due to the pandemic. The original deal would have given them another $ 35 billion.
Refund of paid tax
Employers who have been deferring their workers’ tax taxes since August under Trump’s executive action must now, by the end of 2021, increase the withholding of their employees to repay the taxes owed. Originally, the deferred amount had to be repaid on April 30th.
What is not included – state and local government funding
The provision was one of the most controversial negotiations. House Democrats provided $ 875 billion in legal aid passed by the House in May to help states and local governments struggling with lower tax revenues due to the pandemic.
But Republicans resisted offering more aid than the $ 150 trillion in Congress’ $ 2 trillion bill in March, which could only be used for coronavirus-related expenses. IDP legislators have said they do not want to save states that have mismanaged their finances.
In a joint statement last week, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer pointed out that the final agreement provides emergency resources for schools, $ 27 billion for state roads, struggling transportation agencies, Amtrak and airports, and $ 22 billion for health-related expenditures from state, local, tribal and territorial government.
In addition, the legislation provides for $ 2 billion to support city buses.
Government officials and local officials have also asked to be able to use the funding to address budget deficits.
This story has been updated with President Donald Trump signed the bill on Sunday night.
CNN’s Manu Raju and Clare Foran contributed to this report.