Schumer Delivers “A Basket of COVID Rescue Relief” to New Yorkers
New York’s Senior US Senator Charles Schumer, has used his new position of power as Majority Leader of a divided 50-50 Senate (Vice-President Kamala Harris is the tie breaking vote for democrats) to help pass a robust COVID relief plan submitted by President Joe Biden.
Senator Schumer made sure that the relief package has lots of good new for New Yorkers, including $12.5 Billion for New York State government. With that infusion of cash, Governor Cuomo and State Senate Majority Leader Andrea Stewart-Cousins should be able to balance the books for the upcoming 2021 fiscal year which begins April 1.
“Finally, Under President Biden & With A Democratic Senate, Americans –And New Yorkers– Will Get The Robust COVID Relief & Rescue They Voted For. Back in November, the American people and New Yorkers sent a crystal clear message to the previous administration: deliver the robust COVID relief this country needs or get out of the way. The deal we reached with the help of a new president, and a new democratic Senate marks real relief to the tune of $100 billion for workers, families, healthcare, small businesses, including our hard-hit industries like restaurants, and New York—the things we need to support in order to weather this crisis and then work to recover,” said U.S. Senator Charles Schumer.
The details and the impact on New York appear in the breakdown below. These numbers are tentative.
· $12.569 Billion for New York State Government
· $6.141 Billion for New York City
· $3.907 Billion for New York’s Counties
· $825 Million for New York’s Small Cities, Towns, and Villages
· $358 Million for a New York State Broadband Investment Program
· $7+ billion: New York Area Transit ($6.5B to MTA) The New York State Department of Transportation will receive $12M directly to support rural transit systems. The remainder will support county bus services, and upstate transit agencies.
· $1.7 Billion – Relief for Amtrak to help maintain operations and other expenditures during the pandemic, especially in New York.
- Education funding for help schools reopen safely. More than $1 billion in additional Emergency Rental Assistance and assistance for preventing homelessness
- Extending unemployment insurance through September 6, and providing $300 per week, plus whatever benefit New York State provides.
- Over $22 Billion in Direct Payments for NY – The American Rescue Plan includes an additional round of Economic Impact Payments of $1,400 for individuals making up to $75,000 per year and $2,800 for couples making up to $150,000 per year. Eligible families will also receive an additional $1,400 payment per child and adult dependent, amounting to $5,600 for an average family of four. Nearly 9 million New York households will receive another round of direct payments, helping them to cover essential expenses like food, rent or mortgages, and medical bills during this crisis.
· Roughly $4 billion to support more vaccines, testing and healthcare in New York
$28.6 Billion for Restaurants, nationwide – A new restaurant relief fund, modeled on the widely support, bipartisan RESTAURANTS Act, which will provide flexible grants through the Small Business Administration (SBA) as a lifeline for New York’s restaurant industry, one of the hardest hit by the economic effects of the COVID pandemic. Food service or drinking establishments, including caterers, brewpubs, taprooms, and tasting rooms, that are not part of an affiliated group with more than 20 locations will be eligible
The new restaurants relief fund will be designed to provide flexible grants of up to $10 million per restaurant group, $5 million per individual restaurant, that can be used to cover payroll, mortgages or rent, setup for outdoor seating, PPE, paid leave, food and other supplies, or debt and other expenses. Grants can be spent on eligible expenses from 2/15/20 through 12/31/21 and the SBA Administrator may extend the period through two years from enactment if conditions warrant. $5 billion of the $25 billion total is reserved for restaurants with less than $500,000 in gross receipts in 2019 for the first 60 days of the program.
$1.25B and a Key Fix for Save Our Stages – The bill provides an additional $1.25 billion for hard-hit independent live venues, performing arts organizations, independent movie theaters, and cultural institutions. The bill also includes a critical fix that allows venues to access a PPP loan and a Shuttered Venue Operators Grant, deducting the PPP loan amount from the grant amount. Including access to both programs will provide a much-needed source of additional capital as these struggling businesses and nonprofits try to stay afloat during the crisis.
$15 Billion for SBA Targeted EIDL Grants — This funding will provide hard-hit, underserved small businesses with increased flexible grant relief. These grants will be particularly helpful for very small businesses and sole proprietors, which include over 90 percent of minority-owned businesses that have been disproportionately devastated by this crisis.
Expanded PPP Eligibility for Nonprofits – This bill makes additional 501(c) nonprofits eligible for PPP. It also makes local offices of larger nonprofits eligible for PPP assistance as long as those locations are not larger than 500 employees for first PPP loans or 300 employees for second PPP loans, expanding access to vital relief for nonprofit organizations that are critical to local services and the economy.
CONNECTING MORE NY FAMILIES TO BROADBAND–$632 Million — The American Rescue Plan includes $7.172 billion nationally to close the homework gap by providing internet and connected devices to vulnerable students and educators. New York is estimated to receive around $632 million in funding to help students and educators.
REDUCING POVERTY FOR NEW YORKERS- The American Rescue Plan includes a significant expansion of two of the most powerful and effective anti-poverty tools the federal government has – the Child Tax Credit and the Earned Income Tax Credit – for 2021:
Majority Leader Schumer said that he expected President Biden to get a bill and sign it by March 14, which would mean that New Yorkers will also receive their $1,400 payment, in the form of direct deposit or a check in the mail, by the end of the month.
In his first major act as US Senate Majority Leader, Schumer has delivered for New York. Thanks we needed it.
