Get The Latest Information On The COVID-19 Relief Law

The Consolidated Appropriations Act, 2021 is a $2.3 trillion spending package that combines $900 billion in coronavirus pandemic relief for the United States and $1.4 trillion in spending for the 2021 fiscal year. President Donald Trump signed it into law on December 27, 2020. The new law provides funding for individuals, small businesses, schools, healthcare organizations and more. It also includes legislation on taxes and energy.

Highlights include:

  • Paycheck Protection Program (PPP) forgivable loans
  • Vaccine, testing and healthcare provider funding
  • K-12 schools, colleges and universities funding
  • Renewable energy tax credits extension
  • Unemployment insurance of $300/week through March 14
  • Direct payments of $600 to individuals making up to $75,000/year
  • Employee retention tax credit extension and expansion
  • Paid Sick and Family Leave credits extension
  • Full deduction of business meals from January 1, 2020 – December 31, 2022

Explore insights below about how the new law will affect your business from our Employee Benefits, Employment, Corporate, Healthcare, Regulatory and Tax Practice Groups. Contact us to find out how we can help.



Related Site:     McDermott+ Consulting

Attorney Advertising ©2023 McDermott Will & Emery