Boxes containing the Moderna COVID-19 vaccine are moved to the loading dock for shipping at the McKesson distribution center in Olive Branch, Miss., Sunday, Dec. 20, 2020. (AP Photo/Paul Sancya, Pool)
Congressional leaders have hashed out a massive, year-end catchall bill that combines $900 billion in COVID-19 aid with a $1.4 trillion omnibus spending bill and reams of other unfinished legislation on taxes, energy, education and health care. The huge, still-unreleased bill is slated for votes on Monday — with lawmakers having only a few hours to read it before casting their votes.
Here are some highlights of the measure with overall funding amounts and specific amounts for some but not necessarily all initiatives; some amounts are not yet available and some aspects of the catchall bill do not involve spending.
COVID-19 RELIEF
Unemployment insurance ($120 billion). Revives supplemental federal pandemic unemployment benefits but at $300 per week — through March 14 — instead of the $600 per week benefit that expired in July. Extends special pandemic benefits for “gig” workers and extends the maximum period for state-paid jobless benefits to 50 weeks.
Direct payments ($166 billion). Provides $600 direct payments to individuals making up to $75,000 per year and couples making $150,000 per year — with payments phased out for higher incomes —- with $600 additional payments per dependent child.
Paycheck Protection Program ($284 billion). Revives the Paycheck Protection Program, which provides forgivable loans to qualified businesses. Especially hard-hit businesses that received PPP grants would be eligible for a second round. Ensures that PPP subsidies are not taxed.
Vaccines, testing, health providers ($69 billion). Delivers more than $30 billion for procurement of vaccines and treatments, distribution funds for states, and a strategic stockpile. Adds $22 billion for testing, tracing, and mitigation, $9 billion for health care providers, and $4.5 billion for mental health.
Schools and universities ($82 billion). Delivers $54 billion to public K-12 schools affected by the pandemic and $23 billion for colleges and universities; $4 billion would be awarded to a Governors Emergency Education Relief Fund; nearly $1 billion for Native American schools.
Rental assistance. ($25 billion) Provides money for a first-ever federal rental assistance program; funds to be distributed by state and local governments to help people who have fallen behind on their rent and may be facing eviction.
Food/farm aid ($26 billion) Increases stamp benefits by 15% for six months and provides funding to food banks, Meals on Wheels, and other food aid. Provides an equal amount ($13 billion) in aid to farmers and ranchers.
Child Care ($10 billion). Provides $10 billion to the Child Care Development Block Grant to help families with child care costs and help providers cover increased operating costs.
Postal Service ($10 billion). Forgives a $10 billion loan to the Postal Service provided in earlier relief legislation.
OMNIBUS APPROPRIATIONS ($1.4 TRILLION)
The bill also includes $1.4 trillion in annual spending bills that fund agency operating budgets through Sept. 30 of next year. The measure has not been released but provides President Donald Trump with a last, $1.4 billion installment for a wall on the U.S.-Mexico border.
MISCELLANEOUS
The measure also contains more than 3,000 pages of miscellaneous legislation, including:
Surprise medical billing. Includes bipartisan legislation to protect consumers from huge surprise medical bills after receiving treatment from out-of-network providers.
Tax extenders. Extends a variety of expiring tax breaks, including lower excise taxes of craft brewers and distillers. Renewable energy sources would see tax breaks extended, as would motorsport facilities, and people making charitable contributions. Business meals would be 100% deductible through 2022.
Water projects. Includes an almost 400-page water resources bill that targets $10 billion for 46 Army Corps of Engineers flood control, environmental and coastal protection projects.
Cryptocurrency is expected to become a part of our daily lives — but what sort of environmental impact does it have? As the U.S. becomes the crypto mining capital of the world, climate advocates are worried about mining companies reopening old coal plants, using massive amounts of energy, wasteful hardware, and more. Congressional Democrats led by Senator Elizabeth Warren are demanding answers from mining firms about their electricity use and waste levels. John Belizaire, CEO of Soluna Computing, joins Cheddar Climate to discuss the congressional letters, how crypto mining can become a green industry, and more.
The Supreme Court will reconsider race-based affirmative action in college admissions. The court will examine admissions policies at Harvard University and The University of North Carolina Chapel Hill, which count the race of applicants as a factor in admissions. The court has upheld affirmative action policies in the past, saying it helps to create more diverse student bodies. However, the conservative Supreme Court could be skeptical and even possibly hostile to such policies. Nick Anderson, Higher Education Writer, Washington Post joined Cheddar's Opening Bell to discuss.
Stephanie Akin, Politics Reporter for CQ Roll Call, breaks down
Senator Manchin's donation pool, and highlights what this support means for the conservative Democrat as well as the Republican party.
The global oil benchmark surpassed $90 for the first time in more than seven years. This comes as growing tensions between Russia and Ukraine add to concerns about the already-tight market. Jay Hatfield, Chief Investment Officer at ICAP, joined Cheddar to discuss what this benchmark means for the oil industry, and what might happen if Russia does invade its neighbor.
With the Beijing Winter Olympics set to get underway on Friday, Dan Wolken, a national columnist for USA Today, joined Cheddar News to break down the big storylines as the pandemic and international conflicts threaten to cast a cloud over the event that is aspirationally seen as a beacon of international cooperation. Wolken noted specific issues over cybersecurity for visiting athletes and disputes over human rights leading to a diplomatic boycott have been making waves even before the opening ceremony. "So you've got sort of these barbs going back and forth already between the Americans and the Chinese, and things haven't even started yet," he said. "We don't even know what's going to happen once the games start and people actually start winning medals."
We are a week away from the 2022 Beijing Olympics, and China has already faced a host of problems leading up to the opening ceremony of the Beijing games. DJ Peterson, president of Longview Global Advisors, joins Cheddar News to discuss the many concerns and controversies surrounding the event.
In 2021, QAnon, the community which traffics in conspiracy theories saw a rapid growth in its numbers. As a result of vaccine rollouts, a number of conspiracies surrounding them also began to circulate which then led to the rise of "Anti-Vaxxers". As a result, the QAnon and anti-vax communities have become increasingly intertwined and the results could be costing lives. Senior Researcher at Media Matters Alex Kaplan, joined Cheddar to discuss more.
Supreme Court Justice Breyer has announced that he will officially retire from his post. He has served as the senior member of the more liberal wing in recent years. Now his retirement puts pressure on President Biden to decide on who will replace Breyer. Attorney and Media Editor at SCOTUS blog Katie Barlow, joined Cheddar to discuss more.
A long awaited report in the UK looking into the alleged parties held at 10 Downing Street during lockdown finds a culture of excessive drinking and a "failure of leadership" in Boris Johnson's government. Cheddar News speaks with international journalist Thomas Cole, who is closely monitoring latest developments.
