Many of the details and plans have yet to be revealed but it appears as though Congress has reached an agreement on a COVID-19 relief bill. This news should give some comfort to those that find themselves unemployed due to the pandemic but is it enough?

I have been there. Many sleepless nights worrying about keeping a roof over your head and feeding your children after losing a job to no fault of your own. It is not what you envisioned for yourself as 2019 turned to 2020.

As the sun starts to set on 2020 Senate Majority Leader Mitch McConnell started Sunday by saying “Let’s make today the day we join together, put differences aside, and finally get it done.” Mr. McConnell ended Sunday with a Tweet stating “As the American people continue battling the coronavirus this holiday season, they will not be on their own,” McConnell said in a tweet. “Congress has just reached an agreement. We will pass another rescue package ASAP. More help is on the way.”

According to the New York Times, these are some of the items included in the package:

  1. $600 stimulus per person earning up to $75,000
  2. $300 weekly federal unemployment insurance bonus (11 weeks)
  3. Extension of Federal payments for people whose regular payments have expired
  4. $25 Billion in rental assistance and eviction moratorium extension
  5. $284 Billion for the Paycheck Protection Program

Will this be enough or is this just a bandage to help stop the bleeding? The Washington Post quote President-elect Joe Biden as saying, regarding a COVID-19 Relief Package, would “at best only be a down payment” on a more comprehensive bill once he takes office.

 

LOOK: Just some of the photos that capture the historic year that was 2020

 

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