Congressman Daniel Webster admitted a $2 trillion Coronavirus relief bill “is not perfect” after it soared through Congress and was signed by President Donald Trump.
“This bill is not perfect – a portion of the funding is unnecessary – but most of it provides critical resources for hard-working Americans, small business and our healthcare providers and facilities as we battle this hidden enemy,” the Republican congressman, who represents The Villages, said in a statement.
“Our citizens and businesses need this assistance because of decisions made by state and local governments, as well as adherence to guidance from the CDC to slow the spread of COVID-19, protect those most vulnerable in our society, and prevent healthcare facilities from becoming overwhelmed,” he added.
He said the bill includes:
• A tax rebate of $1,200 per individual, $2,400 per couple and $500 per eligible child. This rebate is reduced for higher income earners, starting at $75,000 for individuals, $112,500 for head of household, and $150,000 for married couples. It phases out completely for individuals earning $99,000 or more and married couples earning more than $198,000. This advance tax credit will be in the mail to millions of hardworking Americans in the coming weeks. Those who have no tax liability – like many seniors on Social Security – will also receive this credit in the form of a check, direct deposit or debit card.
• Expanded unemployment benefits for those who have lost their job due to this pandemic. Eligibility includes self-employed and contracted workers.
- Increased Medicare reimbursement for providers serving seniors and expansion of telemedicine.
• Funding to help states, cities and localities fight the pandemic; to support healthcare workers in hospitals, particularly rural hospitals; to purchase PPE and for the Strategic National Stockpile to stockpile needed swabs and other critical items.
- Loans and grants for passenger and cargo airlines, and businesses critical to “maintaining national security.” To receive these funds, these industries must cap executive compensation for the duration of the assistance period and stock buybacks are prohibited during the duration of the loan.
• Additional funds through loans, loan guarantees, investments and more flexibility for banks and credit unions to provide businesses, states and municipalities with access to liquidity.
