Third Emergency Funding Package (CV3)

The latest and third emergency funding package (CV3) was finalized last night. Here’s a snapshot of the national picture – more info to come on NJ’s share of these allocations soon!

HEALTHCARE: Some preliminary highlights: 

  • The first emergency funding request (CV1) allocated over $3B to the Secretary of HHS to be invested in state and local health departments ($950M), community health centers ($100M), and the purchasing of vaccines and treatments ($300M), etc.
  • CV3 includes an additional $100 billion for a new program that will direct aid to health care institutions treating patients on the front line of the crisis. These include hospitals, public and not-profit entities, and Medicare and Medicaid enrolled suppliers. 
  • CV3 includes $4.3 billion to support federal, state, and local public health agencies to purchase personal protective equipment, lab testing, infection control and mitigation to prevent spread, and other public health preparedness and response activities
  • CV3 also includes $3.5 billion to help healthcare sector employees, emergency responders, sanitation workers, and other workers deemed essential access childcare assistance.

WORKERS: 

  • CV3 includes an extended UI program that increases the maximum unemployment benefit by $600 per week and ensures that laid-off workers, on average, will receive their full pay for four months. It ensures that all workers are protected whether they work for businesses small, medium or large, along with self-employed workers and workers in the gig economy. We pushed for structural reforms that will allow workers to get unemployment insurance quickly and would allow furloughed workers to stay on as employees, so that when, God willing, this crisis ends, they can quickly resume work. 

FAMILIES

  • CV3 provides direct cash payments of $1200 to working class Americans, twice the amount originally proposed. An additional $500 cash payment is available per child. Senator Booker was among the first to advocate for direct, immediate cash payments to families
  • CV3 allocates more than $7 billion for housing and homelessness assistance programs to help underserved and working-class Americans avoid evictions and minimize impacts caused by unemployment or other unforeseen circumstances related to COVID-19.
  • Throughout the crisis, Senator Booker has fought to protect families who fall behind on payments for rent or mortgage, advocated for student loan relief, and filed legislation to temporarily ban bank overdraft fees.

SMALL BUSINESS:  

  • New Jersey is now approved for the Small Business Administration (SBA) Economic Injury Disaster Loan program – businesses can apply for long term, low interest loans through the SBA’s website
  • In CV3, Senator Booker and Democrats pushed for an additional $10 billion for SBA to provide emergency grants of up to $10,000 to small businesses. There’s another $17 billion for SBA to cover 6 months of payments for small businesses with existing SBA loans.

EDUCATION: 

  • CV3 includes $30.75 billion for grants to provide emergency support to local school systems and higher education institutions for them to provide continuing educational service to their students and support the on-going functionality of school districts and institutions. 
  • To ensure that children with disabilities are receiving the educational support they need while schools are closed due to the COVID-19 pandemic, Senator Booker has urged the US Dept. of Education to provide school administrators and educators with the guidance on how students will receive access to school lunch programs, online instruction, and other critical services.

Please note that this is a rapidly evolving situation and that Senator Booker’s team will post regular updates on his website. For more information on the State of New Jersey’s response, or for questions, please visit www.covid19.nj.gov 

As coronavirus continues to fundamentally alter our daily lives, I ask that you take the time to responsibly check in on loved ones, friends, and neighbors – and most importantly, take care of your own well-being. During these trying times, practicing kindness, compassion, and love will go a long way to rising above this challenge.