House Passes $3 Trillion H.E.R.O.E.S. Act
On last Friday, the House passed the Health and Economic Recovery Omnibus Emergency Solutions (H.E.R.O.E.S) Act, the largest spending bill in American history that included a laundry list of items, some not related to coronavirus. Now that the bill has passed the House, it will be sent to the Senate. In order for a bill to become law, it must pass both the House and the Senate, and then be signed by the President. The Act includes economic relief provisions, including the following:
- Additional direct cash payments to households, including $1,200 per individual earning up to $75,000 per year. Families with dependent children could receive up to $6,000.
- An extension of enhanced unemployment benefits (which is an additional $600 per week) to January 2021.
- Housing assistance to help renters and homeowners with rent and mortgage payments.
- Billions of dollars dedicated to Coronavirus testing and contact tracing initiatives….read more