By Norm Needleman, State Senator.
(Dec. 31, 2020) — I hope you and your family are having a safe and happy holiday season. Please take a couple of minutes to read a brief update regarding the new COVID-19 stimulus package that was passed by Congress. While, we know how the funds have been allocated, state agencies, including in Connecticut, are waiting for further official guidance from the federal government on distribution of the stimulus funds.
My office is doing everything we can to assist our friends and neighbors during these challenging times. If you’ve sent me an email or have phoned my office, please know we are working as diligently as we can to address your needs and concerns. Thank you for your understanding. Now, please read a few highlights from the stimulus package.
Assisting Businesses:
- $284 million in new funds through the Paycheck Protection Program (PPP). The new round of forgivable loans allows businesses with 300 or less employees that have experienced more than 25 percent revenue loss in the first, second or third quarter in 2020 to receive a second PPP loan. It is recommended you start working with an approved lender due to potential high demand. Businesses seeking a second PPP loan are suggested to work with the same lender because it may speed up the application process. For a list of participating lenders, click here
- Extension of the tax credit for employers offering paid sick leave
Unemployment Assistance:
- $300 per week for up to 11 weeks in enhanced unemployment benefits
- Extends the 100 percent federal funding for the Shared Work program. The program aids employers in avoiding layoffs by allowing them to use employment benefits to cover a reduction in employees’ hours. The program helps workers remain employed, while reducing costs on businesses
- An 11-week extension of the Pandemic Unemployment Assistance Program (PUA) for a total of 50 weeks. PUA eligibility ends on March 13, 2021. The last week of benefits is paid per week ending on April 10, 2021, for those who have remaining weeks following the end of eligibility deadline
Supporting Families:
- $600 stimulus checks will be made to individuals making up to $75,000 per year and couples making up to $150,000 per year. An additional $600 per child under 17 years old will be made to individuals with dependents
- $25 billion for rental assistance and extension of federal eviction moratorium through January 31, 2021. The state eviction moratorium was extended until February 9, 2021
