After an intense struggle to increase the amount that Americans will receive as a form of aid amid the current coronavirus pandemic, U.S. President Trump signed the new COVID Relief bill in an attempt to bring help to U.S. citizens badly affected by the virus that originated in China.
President Trump himself criticized the bill which, despite its nearly 6,000 pages, only originally intended to give individuals a "ridiculously low" $600 each. Trump called the bill a "disgrace" and said that it will give more to foreigners than it will to Americans. He then demanded that Congress bump this amount up to $2,000 per person.
Later, the President signed the COVID relief bill after his allies urged him to do so, the Christian Post reported. Here's what Americans will receive as a result of the bill:
- Stimulus checks amounting up to $2,000
The House finally agreed to increase the amount to give Americans, from $600 to $2,000. This is in line with what President Trump demanded.
"Not enough money is given to small businesses and, in particular, restaurants, whose owners have suffered so grievously," the President said about bill before he demanded the increase. "It's called the COVID relief bill, but it has almost nothing to do with COVID. "
The increase in stimulus payments mean an additional $464 billion in spending. It will, however, result to Americans receiving the help they need from their government.
Give the people $2000, not $600. They have suffered enough! https://t.co/2jOVCnGtXS
"” Donald J. Trump (@realDonaldTrump) December 29, 2020
- Unemployment Insurance
The Christian Post noted that the COVID Relief bill will help those who lost jobs during the pandemic by giving $300 per week for 11 weeks, up until March 14.
- Rental Assistance
The bill also provides those who can't pay rent some assistance so they won't lose their homes. About $25 billion worth of rental assistance is included in the spending package.
- Additional PPP Loans for Small Businesses
The new COVID Relief bill provides about $285 billion worth of loans under the Paycheck Protection Program. There will be stricter terms this time around, with businesses allowed to loan a maximum of $2 million each. Businesses must also have less than 300 employees and have seen at least a 25% drop in sales in at least one quarter within the past year to become eligible.
- Food Assistance
The bill provides about $13 billion in nutrition assistance, the New York Times noted. From this, $400 will be allotted for food banks and food pantries, while $175 will be allotted for nutrition programs under the Older Americans Act.
- Internet Bill Assistance
The bill also includes some provisions regarding internet connection and related expenses. The pandemic has largely forced people to stay at home and adjust to working or studying inside their residences. That said, this requires people to have internet connection. The bill provides some $3.2 billion to help Americans pay for their monthly internet bills.
"Irresponsible"
Despite the amount of aid Americans will receive as a result of President Trump's signing of the COVID Relief bill, it's still a fact that the roughly 6,000-page legislation includes a slew of "politically motivated industry bailouts," One America News Network reported.
Republican Senator Rand Paul criticized the COVID relief bill, saying it is fiscally irresponsible and could lead to more problems - more lockdowns, more job losses, more economic damage, and more suffering for hardworking Americans. And this isn't because the bill will provide aid to U.S. citizens. Rather, it's because of the enormous amount of funds allocated for overseas spending.
"The government has worsened the economic damage and acted as the biggest obstacle to economic recovery," Paul said. "There is no free money that can get us out of this situation. The only thing that can save us is to open the economy."
