The COVID-19 has caused harm to small businesses. People have lost their jobs and many government employees working on the frontline have suffered because of it. The $900 Billion COVID Rescue Package was to act as a safety net for citizens who have been severely affected by the COVID-19.
This Sunday the Hill leaders announced that they had reached a decision after months. But the deal had been in a bitter partisan stalemate and it took days of contentious negotiations to reach a final decision.
Moreover, the rescue package was combined with a massive $1.4 trillion government spending bill. The additional cost was to fund federal agencies for the new fiscal year in a 5,593-page bill.
Not only will the federal agencies receive the government support that is very much needed the jobless and the needy will also get some help. There will be an allowance of $600 per adult, enhanced jobless benefits of $300 per week, roughly $284 billion in Paycheck Protection Program loans.
There will also be a $25 billion in rental assistance, an extension of the eviction moratorium. Moreover, the schools and colleges will receive $82 billion worth of support from the government. The rescue package by the government came at the right time, before the beginning of 2021.
The Senate Majority Leader Mitch McConnell said that the government is finally happy to announce what the nation has wanted to hear for a long time. Both the parties had their own demands, and the senate was in gridlock. But after months of discussions, both parties relinquished some of their demands and finally passed the bill for a rescue package.
Democrats are already showing that they want more relief passed in the next session when President Joe Biden will be in the house.