What is the US Covid Relief Bill?

US President Donald Trump has rejected the Covid Relief Bill passed by Congress on December 20 calling it a disgrace. He has asked Congress to amend the bill and make changes.

Key Facts about the US Covid Relief Bill

  • The US Congress passed a Covid relief package of $900 billion to finally deliver cash to individuals, businesses, and resources to vaccinate US citizens.
  • The newly passed bill establishes a $600 direct stimulus payment and a temporary $300-a-week supplemental jobless benefit for the US citizens, along with new subsidies.
  • The bill integrates covid-fighting funds with financial relief for businesses and individuals.
  • The bill offers $600 to individuals making up to $75,000 per year and $1,200 to couples making up to $150,000 per year on direct payments, with payments phased out for higher incomes.
  • An additional payment of $600 will be made per dependent child.
  • The federal jobless benefit of $300 per week bonus was half that provided under the CARES Act ($1.8 trillion) in March. The direct stimulus payment of $600 was also half as compared to the March payment.
  • The bill also includes $15 billion for theaters, $25 billion in rental assistance, $10 billion for child care, and $82 billion for local schools, colleges, and universities.
  • It is by far the longest bill with 5,593-pages.
  • The House of Representatives approved the Covid Relief Bill by 359-53. After this, Senate passed it by a 92-6 vote.

It must be noted that if President Donald Trump does not sign and approve the bill by December 28; the funding would lapse.

Current Affairs