By Sahar Chmais
UPDATE: President Donald Trump disapproves of the $900 billion COVID relief bill, calling to increase the $600 stimulus checks to $2,000 per person, or $4,000 for a couple. Trump is calling for an amendment to the bill, not a veto.
The $900 billion coronavirus relief bill has passed Congress and has been sent to President Donald Trump. There is some confusion about how the funds will be distributed if only a small portion of it will be sent as a stimulus relief check to Americans.
The bill will give $300 weekly for unemployed individuals for 10 weeks and a one-time $600 direct stimulus to most Americans. Businesses, restaurants and theaters will also receive a round of funds. The money will also go out to schools, health care providers and renters facing eviction.
According to Treasury Secretary Steven Mnuchin, the $600-direct payments should be arriving in bank accounts next week.
The Paycheck Protection Program will reopen with $284 billion to aid struggling businesses. There will be $25 billion allocated for rental assistance, $15 billion will go to theaters and live venues, $82 billion to fund local schools, colleges and universities and $10 billion for childcare. The package includes a $30 billion for the procurement and distribution of the COVID-19 vaccine.
