President Trump signed a $900 billion coronavirus relief bill on December 27, 2020, which will give struggling Americans similar financial aid to what was provided in the March, 2020 CARES Act. The following information is what’s known so far about new COVID relief for low-income renters:
- Unemployment benefits will be increased to an extra $300 per week through March 14, 2021.
- This is half of what was given by the CARES Act. The previous CARES Act benefit that expired in July was $600, and ran for 16 weeks instead of 11.
- Unemployment benefits will be extended for “gig” workers.
- This is expected to be similar to the prior regulation that was put into effect by the CARES Act.
- State unemployment benefits will be extended to 50 weeks.
- Eligible Americans will be given a one-time $600 direct payment from the government.
- This is half of the $1,200 direct payment that was given by the CARES Act.
- An additional $600 will be given per dependent child.
- The direct payment will be for:
- Individuals making up to $75,000 per year.
- Couples making up to $150,000 per year.
- Those with higher incomes will not receive a direct payment.
- A federal rental assistance program will be created to distribute funds to states and local governments.
- This rental assistance will help tenants pay back rent.