Update on the COVID-19 Relief Package

Last week the County Chamber CEOs met with Congressman Carbajal to discuss Small Business Relief and economic impacts to our community. We would like to thank Congressman Carbajal of the 24th District for his support in helping pass a second COVID-19 Relief Package. Please see an update from our Congressman on the relief package:

  • Unemployment Assistance: Provides $300 per week in supplemental federal unemployment beginning as soon as Dec 27th and lasting through March 14th.
  • Housing Security: Extends the eviction moratorium to January 31st, provides $25 billion in federal rental assistance, and strengthens the Low Income Housing Tax Credit.
  • Direct Payments: Provides a $600 direct payment to adults earning under $75,000 and $1200 to households earning under $150,000. Provides $600 per dependent child, so a family of four can receive up to $2400.
  • Business and Economic Recovery: Provides $325 billion in funding to facilitate a strong economic recovering, including:
    • A second round of Paycheck Protection Program (PPP) loans, plus the ability to make expenses associated with forgiven loans tax deductible.
    • Advance borrowers should be made whole, without regard for whether those borrowers are eligible for PPP forgiveness. The Administrator will issue rules that ensure borrowers are made whole if they received forgiveness and their EIDL was deducted from that amount.
    • $15 billion for live music venues and other cultural institutions.
    • Clarifies that deductions are allowed for otherwise deductible expenses paid with the proceeds of a PPP loan that is forgiven
    • $15 billion to help airlines assist their furloughed workers.
    • Expands eligibility for PPP loans to nonprofits and news outlets.
  • Vaccine Distribution: Includes $20 billion for vaccine procurement and over $8 billion for distribution, which makes the vaccine available at no cost for anyone who needs it.
  • Pandemic Mitigation: Provides states with $20 billion to assist with testing and contact tracing programs.
  • Food Security: Sets aside $13 billion to increase SNAP benefits by 15% and allocates $13 billion in direct payments to farmers and ranchers to offset losses from COVID-19.
  • Schools and Child Care: Provides $82 billion to get students back to school and parents back to work.
    • Over $54 billion for K-12 education
    • $22.7 billion for colleges, including $1.7 billion set aside for minority serving institutions.
    • $10 billion in emergency assistance for the child care sector.
    • Repeals a ban preventing incarcerated students from qualifying for Pell grants.
  • Internet Connectivity: Includes $7 billion in broadband funding to keep Americans connected and healthy. Sets aside $300 million specifically to improve rural broadband access and includes $250 million for telehealth.

 

Santa Barbara South Coast Chamber of Commerce

This Post Has One Comment

  1. This funding mentioned at the end will be particularly helpful if it can expand internet access to seniors, (affordable or zero cost) so telehealth and just being able to stay connected are achieved — even if it was short-term.

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