EXPLAINING THE COVID-19 STIMULUS BILL

COVID-19

By: Akanksha A. Panicker

December 21st of 2020 saw the passing of the sequel COVID relief legislation. As part of the Bipartisan-Bicameral Omnibus COVID Relief Deal at the end of the year, with one of the largest stimulus packages in history. The provisions under the same require interpretation, especially since the healthcare industry’s ramifications will be momentous. The 5,593-page 2021 Consolidated Appropriations Act was voted on and approved on December 21, 2020, before congressional leaders took a break for the holidays. However, the relief bill provides some respite to individuals, businesses, and hospitals and is aimed to lighten the economic strain that the pandemic caused. Consequently, the legislation includes  USD 300 per week in additional unemployment benefits, direct payments of USD600 to individuals, USD 330 billion in small business loans, approximately USD 80 billion for schools, and USD 69 billion for vaccine development and deployment.  The relief bill was included as Division N of a larger legislative package that included government funding and other bills. 

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