Congress passed a $900 billion COVID-19 relief package Dec. 21, but President Donald Trump is asking for amendments that leave its fate uncertain, CNN reports.
The legislation provides $600 in one-time direct payments to individuals and $600 per child. Trump responded to the bill’s passing by asking Congress to increase the amount to $2,000 and eliminate some other provisions in the 5,593-page bill he deemed “unnecessary.”
Among other provisions, the bill included $284 billion for the Paycheck Protection Program for small businesses, along with language to ensure PPP loans are not taxable as income, according to Hardwood Federation.
Federal unemployment insurance benefits will be extended for 10 weeks through mid-March, with a $300 supplement payment each week, similar to the extra $600 supplement that expired at the end of July, HF reported.
The bill as it stands would aid the construction industry with a measure that includes $10 billion in funding for shortfalls in state transportation revenues, according to the Associated General Contractors of America.
“The new coronavirus recovery measure...should provide some needed relief for a construction industry that is coping with project cancellations and job losses in most parts of the country,” AGC CEO Stephen Sandherr said in a statement.
