As a result of the coronavirus and businesses closing, people staying home, and the entire country being affected, the House has passed H.R. 6201 which is called the Families First Coronavirus Response Act.
This is designed to help families and small businesses who suffer any monetary losses or struggles while the coronavirus is cleared up.
Peter Navarro talks of the stimulus in the video above while, below, Kelly Phillips Erb of Forbes highlights what the bill includes:
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Funding for nutrition assistance programs. Specifically, funds are designated for the Special Supplemental Nutrition Program for Women Infants and Children (WIC) and the Emergency Food Assistance Program (TEFAP). Also, there is a provision to allow state plans to provide food assistance to households with children who would otherwise receive free or reduced-price meals if not for their schools being closed due to the COVID-19 emergency.
Funding for the Senior Nutrition Program in the Administration for Community Living (ACL). Provides approximately 25 million additional home-delivered and pre-packaged meals to low-income seniors, including those with chronic illnesses and disabilities, who depend on the Senior Nutrition programs in their communities.
Reimbursement for COVID-19 diagnostic testing and services provided to those without health insurance.
Funding for the Department of Veterans Affairs. Funds will cover the costs of COVID-19 diagnostic testing for veterans receiving care through Medical Services or through Medical Community Care.
Job-protected leave. Government employees and employees of employers with fewer than 500 employees who have been on the job for at least 30 days will have the right to take job-protected leave. The leave can be used for quarantine due to exposure to or symptoms of coronavirus; to care for an at-risk family member quarantined due to exposure to or symptoms of coronavirus; and to care for a child of an employee if the child’s school or child care has been closed or is unavailable due to coronavirus.
Emergency transfers for Unemployment Compensation administration. The bill provides $1 billion for emergency grants to states for activities related to processing and paying unemployment insurance benefits.
Health plan testing coverage. The bill requires private health plans to provide coverage for COVID-19 diagnostic testing, including the cost of a provider, urgent care center, and emergency room visits. Also, Medicare Part B and Advantage, TRICARE, Medicaid, and CHIP must cover expenses for provider visits during which a COVID-19 test is administered or ordered.
Tax credits for paid sick and paid family and medical leave. The bill provides for a refundable tax credit equal to 100% of qualified paid sick or family leave wages paid by an employer for each calendar quarter. The tax credit is allowed against the employer portion of Social Security taxes. The credit applies to amounts paid to employees who are sick or quarantined; a lesser credit applies to amounts paid to employees caring for a family member or for a child whose school or place of care has been closed. Caps and limits apply.
Tax credits for leave apply to self-employed individuals, too. Self-employed individuals qualify for the refundable credits, too, including those who must self-isolate, obtain a diagnosis, or comply with a self-isolation recommendation for coronavirus. Again, those self-employed individuals caring for a family member or for a child whose school or place of care has been closed due to coronavirus, are allowed a lesser refundable tax credit. As with employees, caps and limits apply.