If you're a frontline professional, you know the severity of the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act and the newly proposed American Rescue Plan provides economic assistance for custodians and other American workers, their families, and preserves jobs for American industries.
- Individuals with adjusted gross income of up to $75,000 will receive the full amount of the next $1,400 stimulus. This will be distributed automatically, with no action required for eligible individuals. To check the status of that payment visit IRS.com/GetMyPayment.
- This money would be in addition to the $600 payments that were approved by Congress in December and sent out earlier this month - for a total of $2,000. **Economic Impact Payments, or EIPs, -commonly referred to as "stimulus checks" or "recovery rebates"- are passed to help reduce the financial burden of COVID-19 on individuals and their families. The payments are an advance of a temporary credit for 2020 (which you file taxes for in 2021).
- The new COVID-19 Relief would also fund the hiring of 100,000 public health workers, nearly tripling the community health workforce. This would provide support to long-term care facilities experiencing outbreaks. Under the latest proposal, people who are sick or quarantining, or caring for a child whose school is closed, will also receive 14 weeks of paid leave to help stop the spread of COVID-19. The government will reimburse some employers with fewer than 500 workers for the full cost of providing the leave.
- The plan also calls on Congress to invest $170 billion in K-12 schools and higher education, including $130 billion for schools to safely reopen. The new plan also proposes an additional $160 billion for a national vaccine program, including $20 billion for distribution, and an additional $50 billion for expanded testing. This will provide extra funds to purchase rapid tests, expanding lab capacity and helping schools implement regular testing to support reopening.
We understand the past year has been extremely difficult for custodians and other front-line professionals who have been over-extended trying to keep everyone safe, and we are thankful for your continued hard work. As we continue to learn more, we will help to keep you up-to-date on information regarding COVID-19 relief and how it affects education and healthcare. The plan is still waiting for final approval from Congress, which requires a majority vote. Budget rules may prevent the Covid-19 relief from passing in its entirety, and some pieces may be restructured. For more of the latest information click HERE.