Blogging for Business

On Dec. 21, 2020, Congress approved a 2,124-page, $2.3 trillion funding package consisting of a $900 billion end-of-the-year COVID-19 stimulus bill attached to a $1.4 trillion omnibus spending bill to fund the government through Sept. 30, 2021. After a delay, former President Donald Trump signed the bill six days later.1 The CAA stimulus legislation included $300 per week in additional jobless benefits, direct payments of $600 to individuals, $325 billion in small business loans, more than $80 billion for schools, and $69 billion for vaccine development and deployment. Below are the details on what the CAA legislation included.2 The CAA included direct payments of $600 per person including dependents 16 and under, as well as unemployment benefits of $300 per week.The stimulus package provided small business relief funding totaling $325…

Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) were set to receive $9 billion in additional funding through a new Neighborhood Capital Investment program to help low-income and minority communities deal with the economic impact of COVID-19.2 TransportationAlthough state and local government assistance wasn't included in this legislation, some local help was provided through $45 billion in transportation funding to include transit agencies, airlines and airline contractors, airports, state departments of transportation (DOTs), the motorcoach industry, and Amtrak as follows. $15 billion airline payroll support$1 billion airline contractor payroll support$14 billion for transit$10 billion for state highways$2 billion for airports and airport concessionaires$2 billion for the private motorcoach, school bus, and ferry industries$1 billion for Amtrak2 VaccinesFunding for COVID-19 vaccine procurement and distribution to the tune of $69.5…