NEW YORK — A $900 billion federal COVID-19 relief deal agreed upon by lawmakers would inject $54 billion in needed funds into New York’s economy, Sen. Chuck Schumer said Monday.
It includes $13 billion to state government, $5 billion for education, $4.2 billion for transit, $1.6 billion for the COVID-19 fight and vaccination efforts and $1.3 billion for rent relief. There’s also billions for businesses and money going directly to New Yorkers, assuming lawmakers vote for the agreement and President Donald Trump signs off on it.
“This marks the second biggest relief bill in the nation’s history—second to the CARES Act—and it delivers aid that is urgently needed by the unemployed, by renters at risk of losing their homes, by small business owners worried about going out of business, by people seeking vaccination, by schools that spent money to keep kids safe, by families struggling to make ends meet and so much more,” Schumer said. “Clearly, there is more to be done –this is not a stimulus– this is a survival bill, and we will fight for more relief under President Biden, because this crisis is not over.”
How some of the money breaks down:
- $5.8 billion – Education Stabilization Fund
- $4 billion – Elementary and Secondary School Emergency Relief Fund, provides relief to K-12 public schools across the State of New York.
- $1.4 billion – Higher Education Emergency Relief Fund, directs funds to New York’s university system, like SUNY and CUNY.
- $313 million – Governor’s Emergency Education Relief Fund, the governor can use these funds at his discretion to support the state’s K-12 education and higher education needs related to COVID-19.
- $465 million – Child Care Development Block Grants
- $9 billion for New Yorkers – Direct cash payments to New Yorkers, including $600 for individuals making up to $75,000, $1,200 for couples making less than $150,000 and an additional $600 per child. This amounts to $2,400 for a family of (4).
- $20 billion – Small Business Administration Paycheck Protection Program (PPP) to provide a second round of forgivable loans to small businesses
- $1 billion – Support and relief for hospitals, mental health, community health centers and providers
- $260 million – FEMA’s funeral assistance
- $6.5 Billion -Enhanced Unemployment Compensation