Policies & Issues

Bipartisan Lawmakers Propose $908B COVID Relief Bill

Policies & IssuesDec 15, 2020

Bipartisan Lawmakers Propose $908B COVID Relief Bill

The two-part bill would give $300 billion to the Paycheck Protection Program but does not include stimulus checks.

20201215_Capitol_Building.jpg
A bipartisan group of lawmakers introduced a $908 billion COVID-19 relief bill, which includes aid for small businesses and vaccine distribution.
Washington—There is a new COVID-19 relief package on the table.

A bipartisan group of lawmakers introduced a $908 billion proposal Monday night, which has been split into two bills.

The first bill, dubbed the Bipartisan Emergency COVID Relief Act of 2020, is a $748 billion proposal that would include money for small business loans, unemployment benefits, education, transportation and the vaccine rollout.

Unemployment assistance would be extended for 16 weeks from the current expiration date of Dec. 26, with an additional $300 per week, as per a summary of the bill.

The Small Business Administration would receive $300 billion, including funds for another round of Paycheck Protection Program loans.

The loan forgiveness process would be simplified for those with PPP loans of $150,000 or less.

There would also be $25 billion for emergency rental assistance and an extension of the eviction moratorium, which is currently set to expire Dec. 31, through Jan. 31.

The second bill is a $160 billion proposal for state and local needs, called the Bipartisan State and Local Support and Small Business Protection Act of 2020.

The bill also includes short-term protection from pandemic-related lawsuits for employers, which has been a point of contention.

While Republicans have argued the protections would shield small businesses from lawsuits, Democrats counter that they could endanger workers.

States and local governments would receive $152 billion in aid through the Coronavirus Relief Fund, with one-third of that money being distributed based on each state’s population.

The remaining two-thirds would be allotted based on the proportion of each state’s revenue losses relative to the total revenue losses of all states.

Each state would receive a minimum of $500 million.

The remaining $8 billion in funding would go to tribal entities.

While the first bill is expected to find wide support, the second bill may not.

Senate Majority Leader Mitch McConnell (R-Ky.) has already called for the local spending and liability shield to be removed, as per Politico, and be addressed in another bill.

Pelosi and Treasury Secretary Steven Mnuchin have held talks about the new relief bill, according to her office.

Earlier this month, Pelosi rejected a $1.8 trillion stimulus offer from the White House, choosing to keep her focus on the Senate proposal.

While the rejected offer included another round of stimulus checks, albeit less unemployment assistance, the new bill does not.

The lack of direct stimulus checks is an issue for Sens. Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.), who want to at least vote on the idea.

“It would be a dereliction of duty if Congress adjourns for Christmas without having a vote on providing working families with direct payments,” said Hawley in a statement.


The spending bill, regardless of what it includes, will need to pass by Friday to avoid a government shutdown.

“America’s working families and frontlines heroes are crying out for #covid relief,” said a tweet from the Nancy Pelosi team account.

“Mitch McConnell staying on ‘pause’ for the past 7 months of this pandemic does not bode well for the all-hands-on-deck commitment we need to recover from our economic devastation. #FlipTheSenate.”

A survey of 5,500 small business owners, conducted by small business networking site Alignable, found that 85 percent believe they will need additional federal funding to make it from now until June 2021.

“Dueling members of Congress need to compromise and jump over political hurdles to ensure that more small businesses weather the rest of this catastrophic COVID storm,” said Alignable co-founder and CEO Eric Groves in a release about the results.

“Our latest poll clearly demonstrates that more aid is desperately needed to keep hard-working small business leaders afloat, and to continue fueling the recovery.”

The average amount each business would need, as per the survey, is $110,000.

Of those surveyed, 20 percent said they would use the loan to pay rent and employee salaries.

Alignable found that around 34 percent of small businesses have not had the money to cover their full rent on time since May.

Other uses for the money cited by survey-takers included paying additional bills (16 percent), “paying myself” (13 percent), loan payments (12 percent), investing in expansion plans (8 percent) and bolstering virtual skills (6 percent).
Lenore Fedowis the senior editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

Black and white photo of Tony Bennett near a microphone
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony Bennett

The first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.

Sapphire page in Chatham’s “Ultimate Lab-Grown Catalog”
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown Gemstones

The catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.

Rembrandt Blue Jay, Hummingbird, Cardinal Bird Charms
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird Charms

The company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.

rio-article photo-diamond.jpg
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine Jewelry

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Claire’s storefront
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy Again

The jewelry and accessories retailer plans to close 18 stores as part of the proceedings.

Weekly QuizJul 31, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Smith & Son Jewelers storefront Springfield Massachusetts
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location

Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.

Zahn-Z Beluga Spout Grey Spinel Ring and Beluga Spout Mandarin Garnet Ring
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ Collection

Designer Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.

an instructor and a student in a bench jewelry classroom
Brought to you by
Investing in the Next Generation of Bench Jewelers

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Paola De Luca presenting Trendbook 2026+ at Vicenzaoro
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+

She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.

Omar Roy mugshot
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami Jeweler

Omar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.

Mignon Faget Beyond Katrina Pendant and Beyond Katrina Pin
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane Katrina

The New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.

National Jeweler columnist Lilian Raji
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of Coverage

Lilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.

Jewelers of America Logo
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship Winners

The organization has awarded a total of $42,000 through its scholarship programs this year.

2026 Gem Awards logo
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging Designers

The winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.

Marlo Laz peridot and diamond Alexandra earrings
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright Baubles

As summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.

Surveillance image of Watch King robbery suspect
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in Queens

Moshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.

Xavier Dibbrell
MajorsAug 04, 2025
Borsheims Welcomes New Assistant Facilities Manager

Xavier Dibbrell brings more than a decade of experience to the role.

Signet Jewelers logo
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet Jewelers

The addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.

Mike Alexander
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President

The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.

 Gemfields rough rubies
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1

The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.

Hernsdorf Tears of Aphrodite Necklace
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ Necklace

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.

Stock image of a polished diamonds being held by tweezers
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss

The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Lindsey Scoggins Studio convertible flower earrings
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award Winners

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

Matthew Tratner, new president of Continental Buying Group
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

Pomellato Mini London blue topaz and diamond bracelet
FinancialsJul 30, 2025
Kering's Jewelry Brands Resilient As H1 Sales Slide 16%

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Zadok Rolex Austin
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in Austin

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

Crowd of people in a shopping mall
SurveysJul 30, 2025
Consumer Confidence Ticks Up in July

Respondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy