Paycheck Protection Program

Updated: Jan 26


The Biden Plan

President Joe Biden plans to hit the ground running. Here are some highlights of his proposed stimulus plan:

  • An increase of $1,400 to the $600 stimulus payments that are being processed now

  • Federal unemployment benefits would increase from $300 to $400 per week

  • Extending the moratorium on evictions and foreclosures until September 30

  • $350 billion for state and local governments

  • $130 billion to help schools reopen

  • $50 billion for COVID-19 testing

  • $20 billion to help with a national vaccination program

  • Increasing the Child Tax Credit to $3,000 per child and making it refundable