12/31– Weekly Economic Highlights
Dec 31, 2020 | Weekly Highlights
After several months of tense negotiations, Congress compromised on a $900 billion fiscal relief package, and President Trump signed the bill on Sunday. This latest relief package follows about $2.7 trillion approved earlier this year. The legislation provides funding for a variety of programs and includes another round of direct household payments, an extension of some emergency unemployment benefits, and additional aid through the Payroll Protection Program. The bill also includes about $8 billion for vaccine distribution, as the federal government is currently falling well behind its goal to vaccinate 20 million in the US by year-end. Notably, the bill did not include direct funding for state and local governments which had been a sticking point during the months of negotiations.