A second major round of relief will be coming for Kansans soon, according to Senator-elect Roger Marshall. A $900 billion stimulus package was passed by the House and Senate early this week and the President is expected to sign the bill.
Marshall was on his way to the Capitol on Monday evening to vote on the bill when he talked to the Washington County News about the elements of the bill that would most positively impact Kansans. That includes:
• $600 per person stimulus checks for individuals making under $75,000 per year or $150,000 for those who are married filing jointly. This includes children. Media reports say the checks could start showing up through direct deposit either next week or the first week of January. Mailed paper checks may take a bit longer.
• A second round of the Paycheck Protection Program (PPP) is available for first-time users who did not previously receive the PPP, but also allows a second draw for previous recipients if they can demonstrate a 25% loss in revenue when comparing quarters between 2019 and 2020. Marshall suggested talking to community banks who participated in the previous round of PPP loans/grants, because there are new beneficial elements to this program.
He complimented community banks for their work on the program in the first round. He added that if the first-round loan was less than $150,000 and done properly, a one-page forgiveness document is being produced to serve as the close-out paperwork for that round.
• Unemployment insurance has been extended until March 2021 in the form of an extra $300 per week above the state funding.
• There is $13 billion earmarked for agriculture, including a payment of $20 per acre in planted commodities. For the cattle industry, if anyone missed out on CFAP payments, there is money for them. Marshall said this would be the third round of relief for ag producers.