The president signed the bill on Sunday shortly after Tweeting that “good news” was on the way regarding the relief package. It comes after Trump refused to sign the bill and demanded Congress amend it to include a raise in stimulus checks from $600 to $2000.
The package includes stimulus checks of up to $600 for people who earn less than $75,000 per year (or married couples earning up to $150,000), an additional $600 per dependent child under 18, $300 per week extension of unemployment insurance and federal unemployment insurance, more than $286 billion in loans for businesses that need to pay rent and staff, $69 billion in testing and vaccine distribution funds and $82 billion in funding for colleges and schools. The bill also included a legislative priority for the entertainment industry, which will bump up the penalty for operating a for-profit illegal streaming service from a misdemeanor to a felony.
Two federal unemployment programs benefiting roughly 12 million Americans lapsed overnight on Saturday as President Trump refused to sign a COVID-19 relief bill. This latest development ensures the avoidance of a government shutdown.