On Monday, after weeks of delay, the Senate released its next proposed stimulus package: The Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act. The $1 trillion package is the Senate’s response to the House’s proposed HEROES Act, which passed in mid-May.
After a week of Senate infighting after their return from vacation, this proposed bill landed not with a bang but a whimper. House leaders have already stated it won’t pass, and many Senate members aren’t happy with it, either.
Here’s what it does — and doesn’t do — for freelancers.
What it doesUnemployment:The bill cuts the $600 FPUC payments to $200 and extends it until October.After October, the federal payment would be calculated along with PUA/UI benefits, with the total paid amounting to 70% of the individual’s previous income.It simplifies the PUA verification process by requiring states to use the already established Disaster Unemployment Assistance guidelines, which begins paying benefits immediately, giving recipients 21 days to provide their documentation.It provides $2 billion for states to upgrade their UI agencies, better equipping them to process claims quickly and accurately.Small business assistance:The bill adds $60 billion to PPP and would allow some small businesses to take a second round of funding. To