New Stimulus Package Proposed in the Senate
Aug 04 2020

New Stimulus Package Proposed in the Senate

By: Graham Andreae

The check isn't in the mail just yet. But with any luck, more money could be coming, if a new stimulus bill passes in Congress.

The HEALS (Health, Economic Assistance, Liability Protection and Schools) Act is an act that is intended to alleviate some of the burden of COVID-19. According to The New Orleans Agenda, the Republicans of the Senate have initiated this new plan to help those impacted by pandemic to survive. It is a $1 trillion bill that would enable such assistance as stimulus payments for Americans, additional unemployment benefits at a reduced level, a second round of paycheck protection, program funding for businesses impacted by the virus, and more.

The proposed bill is expected to include a second round of stimulus payments, to the tune of $1,200 per person. The bill would also provide additional payments to dependents, regardless of their age. In addition, although the bill would allow for additional unemployment payments, the weekly amount would nonetheless be reduced from $600 to $200. This is in the hope that unemployment offices at the state level could put a system into effect that would pay unemployed workers 70 percent of their previous salaries. All these benefits would end by December 31 of this year.

Through the PPP program, a second round of paycheck protection would provide funds to small businesses that demonstrate a great need. It would only cover limited aid to companies with less than 300 employees and those whose earnings were reduced by 50 percent in the first and second quarters of the year.

Whether or not the HEALS Act passes, there are a number of grants available to businesses in the state of Louisiana, including such funds as the Main Street Recovery Grant Program, which provides grants of up to $15,000 to small businesses.

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