The Basin Report

Stimulus Part Of Congressional Bill

Washington, D.C. – Congress has passed a $900 billion pandemic relief package that would finally deliver long-sought cash to businesses and individuals.  The bill provides another round of direct stimulus payments, but only half of what was distributed back in March.

Lawmakers tacked on a $1.4 trillion catchall spending bill and thousands of pages of other end-of-session business in a massive bundle of bipartisan legislation as Capitol Hill prepared to close the books on the year.  The package is comprised of a total of 5,593 pages, so you know everyone had a chance to read over what they approved.  You know, kind of like when congress gave the Obamacare deal a thumbs up without having time to read it all.  Some of the highlights with overall funding amounts include:

COVID-19 RELIEF
Paycheck Protection Program ($284 billion)
Revives the Paycheck Protection Program, which provides forgivable loans to qualified businesses. Especially hard-hit businesses that received PPP grants would be eligible for a second round. Ensures that PPP subsidies are not taxed.

Direct Payments ($166 billion)
Provides $600 direct payments to individuals making up to $75,000 per year and couples making up to $150,000 per year – with payments phased out for higher incomes – with $600 additional payments per dependent child.

Unemployment Insurance ($120 billion)
Revives supplemental federal pandemic unemployment benefits but at $300 per week — through March 14 — instead of the $600 per week benefit that expired in July. Extends special pandemic benefits for “gig” workers and extends the maximum period for state-paid jobless benefits to 50 weeks.

Schools and Universities ($82 billion)
Delivers $54 billion to public K-12 schools affected by the pandemic and $23 billion for colleges and universities; $4 billion would be awarded to a Governors Emergency Education Relief Fund; nearly $1 billion for Native American schools.

Vaccines, Testing, Health Providers ($69 billion)
Delivers more than $30 billion for procurement of vaccines and treatments, distribution funds for states, and a strategic stockpile. Adds $22 billion for testing, tracing and mitigation, $9 billion for health care providers, and $4.5 billion for mental health.

Food/Farm Aid ($26 billion)
Increases stamp benefits by 15% for six months and provides funding to food banks, Meals on Wheels and other food aid. Provides an equal amount ($13 billion) to farmers and ranchers.

Rental Assistance ($25 billion)
Provides money for a first-ever federal rental assistance program; funds to be distributed by state and local governments to help people who have fallen behind on their rent and may be facing eviction.

Child Care ($10 billion)
Provides $10 billion to the Child Care Development Block Grant to help families with child care costs and help providers cover increased operating costs.

Postal Service ($10 billion)
Forgives a $10 billion loan to the Postal Service provided in earlier relief legislation.
  

OMNIBUS APPROPRIATIONS  ($1.4 TRILLION)
The omnibus measure wraps 12 spending bills into one and funds agency operating budgets through September 30, 2021. It combines Democratic priorities such as a $12.5 billion increase over existing budget limits for domestic programs while cutting Immigration and Customs Enforcement detention and removal costs by $431 million. COVID-19 has contributed to sharply lower costs. Republicans supported sustained defense spending, energy provisions and longstanding bans on federal funding of abortion. The measure also provides President Trump with a last, $1.4 billion installment for a wall on the U.S.-Mexico border.
  

MISCELLANEOUS
The ‘package’ also contains more than three thousand pages of miscellaneous legislation, such as:

Surprise Medical Billing
Includes bipartisan legislation to protect consumers from huge surprise medical bills after receiving treatment from out-of-network providers.

Community Health Centers
Reauthorizes, for three years, funding for community health centers and extends a variety of expiring health care policies, including reimbursement rates for various health care providers and procedures under Medicare and Medicaid

Tax Extenders
Extends a variety of expiring tax breaks, including lower excise taxes on craft brewers and distillers. Renewable energy sources would see tax breaks extended, as would motorsport facilities, and people making charitable contributions. Business meals would be 100% deductible through 2022 and out-of-pocket health care costs would be deductible after they reach 7.5% of income. It would also extend favorable tax treatment for “look through” entities of offshore subsidiaries of U.S. corporations.

Water Projects
Includes an almost 400-page water resources bill that targets $10 billion for 46 Army Corps of Engineers flood control, environmental and coastal protection projects.

Clean Energy
Boosts “clean energy” programs like research and development, efficiency incentives and tax credits. Phases out “superpollutant” CFC hydrochlorofluorocarbons.

Education
Includes a bipartisan agreement to forgive about $1.3 billion in federal loans to historically Black colleges and universities and simplify college financial aid forms. Boosts the maximum Pell Grant for low-income college students by $150 to $6,495. Also, offers “second chance” Pell Grants to incarcerated prisoners.

Horse Racing “Doping”
Adds bipartisan legislation by Majority Leader Mitch McConnell, R-Ky., to create national medication and safety standards for the horse racing industry as lawmakers move to clamp down on the use of performance-enhancing drugs that can lead to horse injuries and deaths.

New Smithsonian Museums
Establishes the Women’s History Museum and the National Museum of the American Latino as new Smithsonian museums located near the National Mall.

Pipeline Safety
Folds in pipeline safety legislation reauthorizing operating grants and safety standards for oil and gas pipelines.

Aircraft Safety
Adds, after the scandal involving Boeing 737 MAX crashes, legislation to beef up the Federal Aviation Administration’s aircraft certification process. Addresses human factors, automation in the cockpit, and international pilot training while authorizing nearly $275 million over the next five years to carry out the legislation.

Intelligence Programs
Reauthorizes intelligence programs for 2021.
  

Full 5,593-Page Bill

  
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