And what is Matt Hancock going to do about care home managers banning visit’s in care homes? Any companies owned or controlled by the president, vice president, or members of Congress are ineligible for these loans. All loans issued by the Treasury are to include equity or senior debt from the borrowers. This credit does not apply to businesses that receive Small Business Interruption loans. However, it specifically excepts those who have the ability to continue their job working remotely online or are already paid sick leave or other leave benefits due to the work interruption. "Relief for taxpayers affected by COVID-19 who take distributions or loans from retirement plans." Unemployment income is temporary income that governments provide to individuals who have lost their job through no fault of their own. $367 billion loan and grant program for small businesses, Expansion of unemployment benefits to include people, Direct payments to families of $1,200 per adult and $500 per child for households making up to $75,000, Over $130 billion to hospitals, health care systems, and providers, $500 billion fund for loans to corporate America (which Democrats called a, Cash grants of $25 billion for airlines (in addition to loans), $4 billion for air cargo carriers, $3 billion for airline contractors (caterers, etc.) Employer payroll taxes will be deferred for 2020. In order to provide liquidity to the hardest hit businesses and industries, the coronavirus stimulus plan allocates $500 billion for loans and guarantees. As can be expected amidst this flood of new federal spending numerous industries, agencies, and special interest groups are being lined up to receive a piece of the funding pie. A Public Health Emergency has been declared in the ACT for the response to the COVID-19 pandemic. These include forbearances and a moratorium on foreclosures for all federally backed home mortgages. The amount of the rebate is gradually reduced for incomes above $75,000 per year for individuals, $112,500 for heads of households, and $150,000 for joint filers. Ffs! By using Investopedia, you accept our, Investopedia requires writers to use primary sources to support their work. This indicates that the government will keep the so-called Care Act easements in place until March next year, despite no councils currently making use of them. $148,991 Full-time Temporary Closes: 16 October 2020 . But the powers within the Coronavirus Act can never be justified. The law allocates $150 billion to states and localities battling the pandemic and $130 billion more for the health care system. You can learn more about the standards we follow in producing accurate, unbiased content in our. You can easily opt in or out of the newsletter subscription at any time. It also directs the federal government and industry to cooperate to maintain stockpiles and supply chains for critical medical supplies, such as protective equipment and medications to treat the coronavirus. Under the expansion of this existing EIDL program, small businesses effected by COVID-19 can apply for an Economic Injury Disaster Loan Emergency Advance of $10,000 that does not have to be repaid. Financial institutions, public entities, and businesses of all kinds may be eligible. We acknowledge the Traditional Custodians of the ACT, the Ngunnawal people. They can receive a Small Business Interruption loan up to 2.5 times their average monthly payroll, up to a maximum of $10 million. However, any loans made by the Treasury under this plan come with conditions. The ACT Health Directorate has well established processes and procedures in place for the management of infectious diseases. It also directs $27 billion in spending on tests, vaccine development, and medical treatment devices, including $16 billion in purchases for the Strategic National Stockpile.