Dec 28, 2020

President Trump Signs COVID-19 Economic Relief Package

President Trump signed legislation for $900 billion in coronavirus economic aid and $1.4 trillion in government spending

covid relief

President Trump signed the latest coronavirus relief and spending package, reported NPR. 

The legislation combines $900 billion in COVID-19 aid with government funding through Sept. 2021 and was passed by large majorities in both chambers of Congress on Dec. 21. 

The package includes direct payments to qualifying Americans, worth up to $600 per adult and child; a boost in weekly unemployment benefits; and funds for small-business aid and vaccine distribution.

First in line will likely be individuals who already have their direct payment information on file with the IRS, reported CNBC. Treasury Secretary Steven Mnuchin told CNBC that qualifying Americans could see direct payments reach their bank accounts in a matter of days. This includes people who signed up to receive a refund by direct deposit when filing 2018 and/or 2019 taxes.

Advertisement

Water utility leaders will notice two key provisions that may be helpful: the Low-Income Water Utility Bill Assistance of approximately $638 million and the $25 billion Rental Assistance Program. The deal is combined with a $1.4 trillion appropriations package measure to keep government agencies operating through Sept. 30, 2021. 

According to WEF, in conjunction with the COVID-19 relief package is the FY21 Omnibus Appropriations Package, which includes: 

  • Clean Water SRF of approximately $1.6 million
  • Drinking Water SRF of approximately $1.2 million
  • WIFIA of approximately $59.5 million 
  • EPA Overflow Control & Storm Water Municipal Reuse Grant (OSG) Program of approximately $40 million 
  • EPA Water Workforce Development Grant Program of $3 million

The Treasury has the capacity to deliver 5 million to 7 million paper checks a week, added CNBC.

Read related content about coronavirus relief and spending: 

expand_less