More and more Americans are becoming nervous regarding the end of year finances leading into 2021. And we are all wondering what our government is going to do to help. Well, it seems we are getting closer to an answer.
Tuesday, a bipartisan group of senators and members of the House unveiled a new $908 billion plan for emergency Covid-19 relief funding to extend unemployment benefits and small business loans.
The breath of fresh air in form of a proposal comes after months of stalemate on stimulus talks. About 14 million Americans receiving unemployment benefits will see those programs expire at the end of the month unless Congress takes action. Also, cities and states around the country are also facing massive budget shortfalls.
Sen. Joe Manchin (D-WV) and Sen. Susan Collins (R-ME) who are spearheading the plan, are being clear that it is designed to be a short-term extension of federal aid heading into a winter where Covid-19 cases are spiking again and unemployment claims are piling up.
“This is going to get us through the most difficult times,” Manchin said at a Tuesday press conference announcing the proposal.
We will definitely keep our eyes on this and keep you all informed as we close out the year.