The new COVID-19 stimulus package has been signed into law. The $900B emergency relief bill includes funds to help small businesses, health providers, and schools, as well as individuals facing unemployment, eviction, and food insecurity.

Congress has passed a massive legislative package containing both appropriations for Fiscal Year 2021 and additional COVID-19 relief. NACo's analysis highlights relevant components of the year-end spending deal for county governments, outlining both the COVID-19 relief and omnibus spending package provisions of significance for county policy priorities.

As cities look ahead to COVID-19 vaccinations and the eventual reopening of society, they have a lot to consider about how the events of this year have illuminated deep problems in housing systems, and in some cases, they have shown a path forward to a better future.

According to data analyzed by The Associated Press, thousands of minority-owned small businesses were at the end of the line in the government's coronavirus relief program as many struggled to find banks that would accept their applications or were disadvantaged by the terms of the program.

A new iteration of the paycheck protection loan program for small businesses has special provisions for long-suffering independent restaurants that have had to revamp their business models just to stay alive throughout the coronavirus pandemic. But even with more generous terms, many independent restaurateurs fear the loans could fail to carry them through the winter.

The Consolidated Appropriations Act of 2021 provides changes to the SBA's Paycheck Protection Program. The legislation gives new life to the PPP by extending the program, which had previously expired, and creating an option for a "second draw" for PPP borrowers. The legislation also introduces changes to PPP loans that will impact both new and existing PPP borrowers.

The biggest consolation prize for state and local governments in the $900 billion emergency coronavirus relief bill agreed by Congress is an additional year to spend leftover CARES Act funds. The deadline for spending the $150 billion Coronavirus Relief Fund is extended through the end of 2021 but without any new flexibility for how to use the money such as covering revenue shortfalls.

Treasury yields were flat on Tuesday after Congress passed a $900 billion COVID-19 relief package. The yield on the benchmark 10-year Treasury note was little changed at 0.935%, while the yield on the 30-year Treasury bond dipped slightly to 1.671%. Bond yields move inversely to prices.

After months of negotiations, Congress passed a COVID-19 stimulus package with much-needed financial relief for agricultural producers, funding for food assistance programs, enhancements to the Paycheck Protection Program, and funding for enhanced broadband access, as well as additional financial resources for agricultural research and farmer stress assistance programs, among others.

Intro Tax Increment Finance WebCourse
March 24-25, 2021 - Daily: 12:00-5:00 PM Eastern

This dataset, compiled by the Urban Institute, examines the economic factors driving state tax collections during the COVID-19 pandemic based on data from US federal agencies like the Bureau of Economic Analysis, Bureau of Labor Statistics, and Federal Housing Finance Agency.

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