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[description] => Introduced ( In general these funds are to be allocated according to population based on the 2010 Census and are required to be used to mitigate unanticipated costs or lost revenues due to the epidemic or the economic damage that has resulted. )

Several progressive groups have Grace Segers is a politics reporter for CBS News Digital.Be in the know. In turn, it directs the Treasury to make some of the loans to distressed industries authorized under the CARES Act available to provide liquidity to mortgage servicers, and it directs the Federal Reserve to establish a new low cost credit facility to residential rental owners. The bill has been named the HEROES Act . Array It would provide up to $10,000 in debt relief to be applied to a private student loan, to be paid in monthly installments by the Treasury Department until September 2021.The proposal calls for an additional $75 billion for coronavirus testing, contact tracing and isolation measures. H.R. At a price tag of over $3 trillion, if passed, the House bill would constitute the single largest piece of economic support legislation ever enacted, matching the $3 trillion in total already committed through the four different laws that have already been passed.

Total grant-funded compensation would be limited to $10,000 earning less than $200,000 per year or $5,000 for those earning more than $200,000 per year. Heroes Act Summary.

6800, The Heroes Act . Federal Pandemic Unemployment Compensation (FPUC) and How to ApplyPaycheck Protection Program Flexibility Act of 2020 The economic damage from the widespread business shutdowns and stay-at-home orders has continued to mount. The bill provides $500 billion in direct assistance to state governments to counter the fiscal impacts of the pandemic, $375 billion to assist local governments, $20 billion to tribal governments and $20 billion to U.S. territories.The bill would establish a $200 billion "Heroes' Fund" to ensure that essential workers receive hazard pay. The total cost of the proposed bill will run about $1 trillion, which is $2 trillion less than the stimulus bill, the HEROES Act, passed by the House of Representatives in May.

State and local government entities would also be eligible to receive funds under many of the various lesser programs funded by the Act.

Any final version of an additional spending package will undoubtedly require some contentious negotiation and cooperation with the President and the Senate.

Speaker of the House Nancy Pelosi unveiled the HEROES Act, a bill to fund a new round of relief spending to support the U.S. economy in the wake of the Covid-19 crisis. On Thursday, Senate Majority Leader Mitch McConnell, R-Ky. called the bill “an unserious product from an unserious majority.” President Donald Trump this week said the bill is “DOA.” It would also provide $16.5 million in direct payments to agricultural producers.The legislation designates $100 billion in emergency assistance to low-income renters to help them avoid eviction. The HEROES Act, which was written entirely by House Democrats and passed largely along party lines, is unlikely to move forward to the Senate. Federal Pandemic Unemployment Compensation (FPUC) is a temporary program that provides an extra $600 a week on top of your regular unemployment insurance benefit. In a major benefit to high-tax states and cities, it also eliminates the limit on deduction of state and local taxes from federally-taxed income for 2020 and 2021. The law also drops the required payroll expenditure amount from 75% to 60%.

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