House Democrats Unveil New Relief Bill

House Speaker, Nancy Pelosi announced on Tuesday, a new COVID-19 stimulus bill called the Heroes Act that totals some $3 trillion.

A summary from House Democrats was released to media outlets and according to the source it includes:

  • Nearly $1 trillion in relief for state and local governments 
  • A second round of direct payments of $1,200 per person, and up to $6,000 for a household
  • About $200 billion for hazard pay for essential workers who face heightened health risks during the crisis
  • $75 billion for coronavirus testing and contact tracing — a key effort to restart businesses
  • An extension of the $600 per week federal unemployment insurance benefit through January (the provision approved in March is set to expire after July)
  • $175 billion in rent, mortgage and utility assistance 
  • Subsidies and a special Affordable Care Act enrollment period to people who lose their employer-sponsored health coverage
  • More money for the Supplemental Nutrition Assistance Program, including a 15% increase in the maximum benefit
  • Measures designed to buoy small businesses and help them keep employees on payroll, such as $10 billion in emergency disaster assistance grants and a strengthened employee retention tax credit
  • Money for election safety during the pandemic and provisions to make voting by mail easier
  • Relief for the U.S. Postal Service

The bill, or some version would have to pass in the Senate to become law. Leaders are expected to vote on the more-than- 1,800-page package this Friday.