EMERGENCY RELIEF
 

• $100 billion for health care providers and hospitals fighting the coronavirus pandemic.

• $27 billion for developing vaccines and the development, purchase, and distribution of other critical, life-saving supplies.

• $45 billion (over double the amount currently available) for the Federal Emergency Management Agency Disaster Relief Fund to help state, local, and tribal leaders respond.
 

DIRECT PAYMENTS
 

• This legislation provides tax-free payments (treated as a refundable tax credit) as follows:
    o Couples who earn up to $150,000 receive $2,400, plus an added $500 for each child.
    o Individuals who earn up to $75,000 receive $1,200, plus an added $500 for each child.
    o For individuals earning over $75,000, head of household filers earning $112,500, and married couples filing joint tax returns earning $150,000, these payments phase out.

• States may increase unemployment benefits temporarily and receive federal reimbursement for that increase. The Act encourages states to waive the usual one-week waiting period and provides an added 13 weeks of benefits.

• Creates a new program to help self-employed and independent contractors who are unemployed as a result of the pandemic.

• The Act allows payment forbearance for federally backed mortgages, and it requires a foreclosure and eviction moratorium for homeowners with the before-mentioned mortgages. It also creates an eviction moratorium for renters in federally funded housing.

• Suspends fines and penalties for those who take out up to $100,000 from their retirement accounts.

• For those on high-deductible health plans with health savings accounts, telehealth services may be covered before a patient reaches the deductible.

• Provides $3.5 billion in emergency funding for childcare providers to stay open, keep payroll, and prioritize the childcare needs of essential workers across the nation.
 

THE ECONOMY
 

• Nearly $350 billion in partially forgivable loans for small businesses and nonprofits with 500 or fewer employees. The maximum loan amount for 7(a) business loans will be temporarily increased.

• $17 billion to forgive up to six months of payments on any current Small Business Administration non-disaster loans.

• $10 billion for an expansion of the emergency disaster loan program for offering advances on loan applications to swiftly help small businesses cover expenses like rent, sick leave, and payroll.

• Funds to offer businesses impacted by COVID-19 a tax credit of $5,000 for wages paid to each employee.

• $500 billion for the Treasury and Federal Reserve to provide liquidity and purchase business, municipal, and state debt.

• And, if needed, the Federal Reserve can leverage funds of more than $4 trillion in financial support during this period of disaster.