Newsletter: What the Coronavirus Relief Legislation Means for You

As you may already know, last Friday the House of Representatives passed the CARES Act, a historic, bipartisan, $2 trillion relief package to help Americans confront the COVID-19 crisis. While not a perfect bill, I voted for the CARES Act because it will provide desperately needed assistance for our healthcare system, for our workers and their families, for Main Street businesses, and for state and local governments severely affected by this crisis.

Below you will find some summary information on what this historic legislation means for you and your families. Many of the final details of these programs are still being established by the Administration, so please stay tuned to our website for future updates. Our casework team is also standing by to help with any issues you may encounter at (847) 383-4870.

The Coronavirus Aid, Relief and Economic Security (CARES) Act provides:

DIRECT FINANCIAL ASSISTANCE

• $1,200 in one-time payments to most adults making less than $75,000 per year, or $2,400 to most married couples making less than $150,000 per year
• An additional $500 per child under 17 years of age
• Reduced by $5 for each $100 a taxpayer's income exceeds the income threshold with complete phaseout at $99,000 for individuals and $198,000 for joint filers
• These payments will be issued by the IRS via direct deposit and will be based on 2019 or 2018 tax return or 2019 Social Security statement.
• If someone has not filed a tax return in 2018 or 2019 and does not receive Social Security benefits, the IRS recommends filing a 2018 return to receive payment. If the IRS does not have the taxpayer's bank account information, the taxpayer should look for a letter from the IRS detailing how to receive their payment

EXPANDED UNEMPLOYMENT INSURANCE

• The federal government is increasing state unemployment insurance payment rates by $600 per week for the next four months
• Many more Americans are now eligible to receive payments, including:
  • Self-employed workers
  • Freelancers
  • Independent contractors
  • Gig workers
  • Part-time workers
  • Parents who must care for their out-of-school children

To apply for unemployment insurance in Illinois, file your claim on the Illinois Department of Employment Security website.

SMALL BUSINESS ASSISTANCE

• $377 billion provided to the Small Business Administration to help businesses with fewer than 500 employees -- including emergency grants, loans, and debt-forgiveness -- up to $10 million per business.
• Paycheck Protection Program that provides low-interest loans that could be forgiven if meeting certain requirements are met, such as employee retention
• $10 million in funding for $10,000 emergency disaster grants available in as few as 3-days for businesses needed immediate capital
• These resources are in addition to previously existing disaster loans. Learn more about how to apply on our "Help for Small Business" site.

SUPPORT FOR HEALTH CARE SYSTEMS AND STATE & LOCAL GOVERNMENTS

• $200 billion investment in hospitals, health systems and health research, including for purchases of additional Personal Protective Equipment (PPE) and testing supplies.
• $150 billion for state and local governments on the frontlines of the coronavirus response for the resources they desperately need during this emergency.

In the days ahead, I will focus on ensuring these funds are administered properly, conducting oversight of the Administration's response, and determining what additional support our communities need.

In the meantime, please continue to keep yourself and your family healthy and safe by following social distancing guidelines and the Governor's stay at home order. Together, we will make it through these challenging times.

For updates on my work in Congress to address the virus, please visit /covid-19

You can also find additional, updated information on the virus in Illinois at coronavirus.illinois.gov/.