Here's how the new bipartisan stimulus bill compares to March's sweeping COVID-19 relief package.
Dale Smith Former Associate Writer Dale Smith is a former Associate Writer on the How-To team at CNET.
Katie is a writer covering all things how-to at CNET, with a focus on Social Security and notable events. When she's not writing, she enjoys playing in golf scrambles, practicing yoga and spending time on the lake.
Expertise Personal Finance: Social Security and taxes Dale Smith Katie Teague Dec. 22, 2020 12:00 a.m. PT
After weeks of back and forth, Congress has approved a new $900 billion stimulus package to follow up the CARES Act from March, which included a $1,200 stimulus check , $600 in weekly federal unemployment insurance and a raft of other benefits. However, the new stimulus bill comes in at less than half of the budget, reducing many of the benefits of the original CARES Act.
For example, a second stimulus check would provide a fraction of the amount for qualified Americans (a $600 maximum per adult , going to fewer households). And the weekly federal unemployment benefit is cut in half at $300 extra per week, for far fewer weeks. The same goes for eviction protections and other programs.
The $900 billion stimulus bill is seen as a short-term relief package until early 2021, where President-elect Joe Biden and his administration are expected to introduce yet another stimulus package to address some of what the $900 billion bill leaves out.
While we wait for President Donald Trump to sign it into law, let's dig into the key aspects of each proposal, showing how they're similar, and exploring all the differences. This story has been updated with new information.
