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to Section One | to Arts & Entertainment
posted Friday, March 27, 2020 - Volume 48 Issue 13
Federal relief package: Here's what's in it for you
Section One
ALL STORIES
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Federal relief package: Here's what's in it for you

by Mike Andrew - SGN Staff Writer

As the SGN goes to press, here are the details available on the latest federal relief bill.

You could get up to $1,200 as an individual or up to $2,400 if you're married and file a joint IRS return with your spouse.

However, there are income limits on receiving the check. If your adjusted gross income is less than $75,000 for single filers and $150,000 for joint filers, then you'll get the full amount.

For every $100 you earn above those limits, though, the payment drops by $5. That means that for those with no children and income levels above $99,000 for singles and $198,000 for joint filers, no stimulus check would come.

Individuals with incomes less than $99,000 but more than $75,000 would receive a reduced payment.

Unemployment insurance benefits will be expanded, increasing the maximum benefit by $600 a week for up to four months.

Benefits would also be available to workers who are part-time, self-employed, or part of the gig economy. People who are still unemployed after state benefits end could get an additional 13 weeks of help from federal money.

Food assistance programs like SNAP would get a boost, as would programs to help low-income households avoid eviction. So would a federal program to improve internet access in rural areas.

Homeowners with federally backed mortgages - VA or FHA - would be protected from foreclosures for as long as 180 days.

Students with federal loans could suspend payments until October, and students receiving Pell grants who have to drop out because of coronavirus would not be penalized.

Hospitals and medical centers would get money to help them handle surging caseloads. Hospitals treating coronavirus patients would also get higher reimbursements and accelerated payments from Medicare.

Across-the-board Medicare cuts that were part of a previous deficit reduction agreement would be temporarily halted.

The bill would give small businesses access to a nearly $350 billion loan program to cover monthly expenses like payroll, rent, and utilities. They would not have to repay the loans if they maintained their workforce during the pandemic.

The eight weeks of assistance would be retroactive to February 15, 2020 to help bring back workers who have already been laid off.

Big corporations would also get some $500 billion. The package includes a financial benefit for the hardest-hit industries, including passenger and cargo airlines. Money would also be available to help other businesses.

Safeguards were inserted in the package at the insistence of Democrats. Companies receiving assistance would be barred from raising the pay of top executives. Any company receiving a government loan would be prohibited from buying back stocks while getting assistance, as well for an additional year.

Businesses controlled by the president, vice president, members of Congress, and heads of federal agencies are not eligible for loans.

Companies that kept on workers despite a significant loss of revenue could get a tax credit.

Tell a friend:

Terrence McNally's "Every Act of Life" - November 3, 1938 - March 24, 2020
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Federal relief package: Here's what's in it for you
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Shaun Knittel's The Legacy Project
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Rep. Chopp's letter: Continued action to confront COVID-19 and the challenges it has laid bare
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COVID-19 hits Capitol Hill
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Durkan Digest special edition: relief for small businesses
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Joint statement from the mayors of Auburn, Kent, Renton, Federal Way, Tukwila, Enumclaw, Algona, and Pacific
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Artist Trust announces COVID-19 Response & Recovery Resources
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Council approves Dunn's program to engage community in region's COVID-19 response
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VICTORY! Court rules Alaska's denial of health care to Transgender employee is unlawful discrimination
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Terrence McNally's "Every Act of Life" - November 3, 1938 - March 24, 2020
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