NEBRASKA LEGISLATURE

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Sen. Myron Dorn

Sen. Myron Dorn

District 30

The content of these pages is developed and maintained by, and is the sole responsibility of, the individual senator's office and may not reflect the views of the Nebraska Legislature. Questions and comments about the content should be directed to the senator's office at mdorn@leg.ne.gov

My thanks to Sen. Wishart’s office for this summary:

What the Federal Stimulus Bill Means for Main Street 

  • $250 billion set aside for direct payments to individuals and families 

Individuals earning less than $75,000 will receive $1,200 

Couples earning less than $150,000 will receive $2,400 

Additional $500 per child younger than age 17 

Individuals without children will not receive direct payments if earning more than $99,000 

Couples without children will not receive direct payments if earning more than $198,000 

Money is expected to go out by April 6th 

  • $377 billion in small business loans 

Emergency Grants: Grants up to $10,000 to provide emergency funds for small businesses to cover immediate operating expenses. 

Forgivable Loans: Small Business Administration can provide loans up to $10 million per business – any portion of the loan used to maintain payroll, keep workers employed, or pay rent, mortgage, and existing debt could be forgiven if workers stay employed through the end of June. 

Relief for existing loans: Relief will cover six months of payments for small businesses already using SBA loans. 

Business Tax Credit: All businesses are eligible for a fully refundable tax credit that are distressed or closed to help keep their workers on the payroll. 

Tax credit will cover 50 percent of payroll on the first $10,000 of compensation, including health benefits, for each employee. 

Employers with 100 or fewer full-time employees can use deduction even if business is not closed. 

  • $260 billion in unemployment insurance benefits 

Provides for additional $600 per week for four months from the federal government on top of whatever base amount the worker receives from the state. 

Adds 13 weeks of additional unemployment insurance; people nearing the maximum number of weeks allocated by their state would get an extension. 

Self-employed, freelancers, and contractors can apply for temporary Pandemic Unemployment Insurance through the end of 2020. 

  • Temporary Student Loan Relief 

All loan and interest payments are deferred through Sept. 30 without penalty to the borrower for all federally owned student loans. 

Sen. Myron Dorn

District 30
Room #11th Floor
P.O. Box 94604
Lincoln, NE 68509
Phone: (402) 471-2620
Email: mdorn@leg.ne.gov
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