House Proposes New COVID-19 Relief Bill

On May 12, 2020, the House proposed a new $3 trillion COVID-19 relief bill. The critical aspects of the bill are outlined below.

  • One-third of the funding ($1 trillion) would be allocated to the state, local, and territorial governments
  • Additional direct payments to individuals and families
    • $1,200 to individual tax filers
    • $6,000 for joint filers
    • $1,200 for each dependent child
  • Extending the $600 weekly unemployment insurance increase until January
  • Funding hazard pay to essential workers
  • Funding new testing and contact tracing programs
  • Increasing employee tax credits for employers from $5,000 per worker to $12,000 per worker, per quarter
  • $100 billion for primary, secondary, and postsecondary education
  • Funding federal and state public health programs to improve data collection on racial and ethnic disparities

The House could vote on the bill as early as Friday, May  15, 2020. Although it is not expected to receive any Republican support, elements of the bill could be included in a compromised, bipartisan relief bill that could emerge over the coming weeks.

AdvantEdge