Eligible families will receive an additional $ 600 per child – which is $ 100 more than what Congress gave families in the first round of aid last spring.
Payments begin to be eliminated for individuals with an adjusted gross income of more than $ 75,000, and those earning more than $ 99,000 will receive nothing. Income limits are folded for couples.
The amounts will be based on 2019 earnings. Those who submitted their 2019 income tax returns will receive their money automatically, as will Social Security beneficiaries and those who submitted their bank account information using the IRS online portal to receive their first payments.
Undocumented immigrants who do not have a Social Security number remain ineligible for payments. But, in a change since the first round, your spouses and children are now eligible, as long as they have the Social Security number.
Unemployment benefits
The unemployed will receive a $ 300 federal increase in weekly benefits until March 14. The figure is half the previous federal increase, which ended in late July.
As Trump waited until Sunday to sign the legislation, many unemployed Americans can receive only 10 weeks of increased payments, instead of 11 weeks.
The Pandemic Unemployment Assistance program initially expanded unemployment benefits for concert workers, freelancers, independent contractors, self-employed workers and certain people affected by the coronavirus for up to 39 weeks. The Pandemic Emergency Unemployment Compensation program offers an additional 13 weeks of payments to those who exhaust their regular state benefits.
Both programs will now close for new applicants on March 14, but continue through April 5 for existing applicants who have not yet reached the maximum number of weeks.
In addition, the measure provides an additional $ 100 per week federally funded benefit to those who have at least $ 5,000 in annual self-employment income, but are disqualified to receive Pandemic Unemployment Assistance because they are eligible for benefits. regular state unemployment.
In addition, the package gives states the authority to waive undue payments in cases where the claimant is not guilty.
The final agreement is less generous than the original bipartisan agreement, launched earlier this month. It would have provided 16 weeks of improved payments and pandemic benefits.
The package also continues with full federal benefits financing extended through mid-March, providing up to 20 additional weeks of payments, depending on the state’s unemployment rate. Usually, states and the federal government share the guide. Less than two dozen states now offer extended benefits due to the improved economy.
Small Business Loans
The second loans will be limited to those with less than 300 employees who saw at least 25% of their revenue fall during the first, second or third quarter of 2020. It also reduces the amount a borrower can receive from $ 10 million to $ 2 million, gives companies more flexibility on how they spend money and simplifies the process of forgiveness for loans below $ 150,000.
It raises $ 12 billion for minority-owned companies. It also expands eligibility for more nonprofit organizations, as well as local newspapers, TV and radio stations.
Bags for theaters and other live venues
The package creates a $ 15 billion donation program for live venues, theaters and museum operators that have lost at least 25% of their revenues.
The initial grant can total up to US $ 10 million per eligible company. A second scholarship, worth half the value of the first, may also be available.
The money will be for specific expenses, such as payroll costs, rent, utilities and personal protective equipment.
During the first 14 days of implementing the program, grants will be awarded to those who have faced 90% revenue losses. Then, those who have experienced at least 70% loss of revenue will be eligible for the next two weeks. After the first month of the program, any other qualified company can receive grants.
Funding for schools and daycare centers
An additional $ 10 billion is included to support child care providers who have struggled with the pandemic.
Rental Assistance
The eviction protection set to expire at the end of the year extends until January 31. It also provides $ 25 billion in rental assistance to individuals who lost their sources of income during the pandemic.
Nutritional assistance
The package increases the benefits of SNAP by 15% for six months, but do not expand eligibility. This is more generous than the original bipartisan agreement of early December, which provided for a four-month increase.
Democrats have advocated increasing the Supplemental Nutrition Assistance Program, or SNAP, as food stamps have been formally known since the beginning of the pandemic, but the provision has never been included in previous aid packages.
The package sends $ 400 million for banks and food pantries through the Emergency Food Assistance Program.
It also provides $ 175 million for nutrition services for the elderly, such as Meals on Wheels, and $ 13 million for the Commodity Supplementary Food Program, which serves more than 700,000 elderly Americans monthly.
Vaccines and hospital financing
It provides US $ 20 billion to purchase vaccines so that they can be freely available to those in need, in addition to another US $ 8 billion for vaccine distribution.
This too gives states $ 20 billion to help with testing.
And it adds $ 3 billion to the $ 175 billion fund for hospitals and healthcare providers to reimburse health-related expenses or lost revenue resulting from the pandemic. The original agreement would have given them another $ 35 billion.
Payroll tax refund
Employers who are deferring their workers ‘payroll taxes under Trump’s executive action as of August now have until the end of 2021 to increase their employees’ withholding tax to pay due taxes. Originally, the deferred amount was due to be repaid by April 30.
What’s not included – state and local government funding
The provision was one of the most controversial of the negotiations. House Democrats provided $ 875 billion in the bill passed by the House in May to help state and local governments struggling to reduce tax revenues due to the pandemic.
But Republicans resisted allocating additional aid beyond the $ 150 billion foreseen in Congress’s $ 2 trillion relief bill in March, which could only be used for coronavirus-related expenses. Republican Party lawmakers said they did not want to rescue states that mismanaged their finances.
In a joint statement last week, House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer pointed out that the final deal provides emergency resources for schools, $ 27 billion for state highways, struggling traffic agencies, Amtrak and airports, and $ 22 billion for health-related expenses from state, local, tribal and territorial governments.
In addition, the legislation provides for $ 2 billion to support intercity buses.
State and local authorities have also asked for the possibility of using part of the financing to cover budget deficits.
This story has been updated with Signature of President Donald Trump the bill on Sunday night.
CNN’s Manu Raju and Clare Foran contributed to this report.