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BUSINESS Thursday 24 december 2020
What the new COVID relief package means for your money

NerdWallet by the FHA. The moratorium
A second wave of federal on foreclosures and evic-
coronavirus relief totaling tions is extended through
$900 billion could begin Feb. 28 for single-family
flowing to millions of Ameri- FHA-insured loans.
cans as soon as the year's IF YOU'RE A SMALL-BUSI-
end, nearly nine months NESS OWNER
after Congress passed the Small businesses, which
original pandemic relief have been hard hit by pan-
package known as the demic shutdowns, will see
CARES Act. Here's what the more than $284 billion for
COVID relief package — first and second forgivable
part of a $2.3 trillion spend- coronavirus relief loans. The
ing bill passed by Congress deal provides additional
and now awaiting the pres- funding for business own-
ident's signature — could ers who didn't receive Pay-
mean for you, your family, check Protection Program
your home or your business. loans during the first round
IF YOU EARN UP TO $75,000 in the spring. The agree-
PER YEAR ment also expands eligibil-
You're eligible to receive ity for the PPP to more busi-
a $600 one-time payment nesses and other industries,
if your 2019 reported in- In this July 15, 2020, file photo, job seekers exercise social distancing as they wait to be called into such as newspapers and
come was $75,000 or less. the Heartland Workforce Solutions office in Omaha, Neb. TV stations. In addition, the
Couples who reported an Associated Press package provides grants
adjusted gross income up through the U.S. Small Busi-
to $150,000 will receive ous relief. for those who wouldn't priority given to households ness Administration for eligi-
$1,200 (the income limit Treasury Secretary Steven traditionally be eligible for below 50% of median in- ble entertainment venues
per couple is $112,500 for Mnuchin has said these regular unemployment, come or where one or that can demonstrate a
the highest earner or the new payments will be dis- such as freelancers, gig more people have been 25% reduction in revenue.
head of the household). tributed the same way the and part-time workers, as unemployed for 90 or more IF YOU'RE IN COLLEGE
Those eligible for relief who earlier relief was sent — as well as those who are self- days. The rental assistance Colleges are receiving ad-
have dependent children direct deposits and checks. employed. These checks money can be used for ditional emergency relief
will also get $600 per child. IF YOU'RE OUT OF WORK were originally set to end past-due and future rent funds and must use some
That means a family of four Weekly $300 supplemental Dec. 26 but will continue payments. The payments of the money to provide

(a couple and two chil- unemployment insurance through March 14. If you may go directly to land- financial aid grants to stu-
dren) meeting the income known as Federal Pandem- have not hit your maximum lords (or utilities) if renters dents that can be used for
threshold would see $2,400. ic Unemployment Com- by March 14, the legislation co-sign the application for a student's cost of atten-
You would still receive par- pensation will be added says pandemic unemploy- assistance. Rental assis- dance or for emergency
tial payments dropping by on top of other unemploy- ment assistance will con- tance is available through costs due to the coronavi-
$5 for every $100 above ment benefits for 11 weeks, tinue until April 5, 2021. Dec. 31, 2021. rus.
the income limits. An indi- through March 14. (The IF YOU RENT IF YOU OWN YOUR OWN IF YOU HAVE STUDENT
vidual who earned $86,900, CARES Act provided $600 The eviction moratorium is HOME LOANS
for example, would get $5. in supplemental unemploy- extended to Jan. 31; it was The Federal Housing Ad- Noticeably absent from
Only minor dependent ment compensation, which set to expire Dec. 31. Rent ministration extended the the relief bill is another ex-
children are eligible for this expired July 31.) payments are still due. deadline to request an ini- tension of the interest-free
payment; adult depen- This benefit also extends Rental assistance is avail- tial COVID-19 forbearance payment pause for federal
dents such as college stu- Pandemic Unemployment able for households earn- to Feb. 28, 2021. The new student loan borrowers,
dents don't qualify, which is Assistance, which was cre- ing less than 80% of the lo- deadline applies to single- which is set to expire Jan.
the same as with the previ- ated by the CARES Act, cal median income, with family mortgages insured 31, 2021. q

Musk: Apple CEO didn't take meeting about buying Tesla

By The Associated Press trading Tuesday. One-tenth sis after years of losses and
Tesla CEO Elon Musk says of that is $61.6 billion. continues to hit milestones
he once considered sell- Musk said he sought out for deliveries of its vehicles.
ing the electric car maker the meeting with Cook Its shares have soared 665%
to Apple, but the iPhone "during the darkest days this year alone, making it
maker's CEO blew off the of the Model 3 program," the world's most valuable
meeting. a reference to Tesla's first automaker and among the
In a tweet Tuesday, Musk electric car designed top 10 biggest U.S. compa-

said he reached out to for the mass market. nies in the S&P 500 index,
Apple CEO Tim Cook "to As recently as 2018, Tesla which Tesla entered on
discuss the possibility of was struggling to meet its Monday.
Apple acquiring Tesla (for vehicle production goals Musk's tweet followed pub-
one-tenth of our current and turn a profit. lished reports suggesting
value). He refused to take Tesla's fortunes have Apple is working on devel- In this Tuesday, Dec. 1, 2020, file photo, SpaceX owner and Tesla
the meeting." changed since then. The oping its own electric cars. CEO Elon Musk arrives on the red carpet for the Axel Springer
Tesla's market value is $616 automaker is finally making Apple declined to media award, in Berlin.
billion, as of the close of money on a consistent ba- comment.q Associated Press