Congressional leaders, after eight months, may be able to pass additional COVID-19 relief legislation this week. The elements of a new bill are here https://www.cassidy.senate.gov/imo/media/doc/BAI20965.pdf and while things are changing hourly, that’s a good place to start.
List of Provisions in the Emergency Coronavirus Relief Act of 2020
| Provision | Ten-Year Cost |
| Aid to Small Businesses | $300 billion |
| Paycheck Protection Program Second Draw | $268 billion |
| Economic Injury Disaster Loan Advances | $14 billion |
| Emergency Grants to Venues | $10 billion |
| Other Small Business Relief and Program Expenses | $9 billion |
| Extended and Augment Unemployment Benefits (+$300/week) for 16 weeks | $180 billion |
| Education | $82 billion |
| K-12 Education Grants | $54 billion |
| Higher Education Grants | $20 billion |
| Governor’s Emergency Education Relief Fund | $8 billion |
| Education Grants for Tribes and Territories | $0.5 billion |
| Health Care | $51 billion |
| Provider Relief Fund | $35 billion |
| Vaccine Development & Distribution | $6 billion |
| COVID Testing & Tracing | $7 billion |
| Transportation | $45 billion |
| Second Round Payroll Support Program for Airline Workers | $17 billion |
| Transit Infrastructure Grants | $15 billion |
| Grants to Transporation Service Providers Like Buses and Ferries | $8 billion |
| Airport Grants | $4 billion |
| Amtrak Funding | $0.6 billion |
| Other Spending | $88 billion |
| Nutrition and Agriculture Programs | $26 billion |
| Rental Assistance | $25 billion |
| U.S. Postal Service Loan Write-Off | $10 billion |
| Child Care Grants | $10 billion |
| Broadband Grants and Investment | $10 billion |
| Sustance Abuse and Opioid Treatment Grants | $5 billion |
| CDFI/MDI Community Lender Support | $2 billion |
| Total | $748 billion |
| “Offsets” (reductions in previous budget authority) | -$560 billion |
| Net Total | $188 billion* |
Source: Bill text. Totals do not sum due to rounding.
*Although the proposal rescinds funds from the PPP program and the Federal Reserve’s lending facilities, those funds would not have been spent anyway under current law so the actual deficit impact will be closer to $748 billion. The precise deficit impact is unknown — for example, unemployment benefits could cost more or less depending on unemployment levels and PPP loans may not be fully utilized.
