The HEROES Act extends that break for another, year through September 30, 2021, and expands it to all federal student loans, including Federal Perkins Loans and some other loans.
But the legislation also cancels up to $10,000 for some federal and private loan holders.
Speaker of the House Nancy Pelosi unveiled the second stimulus package, a $3 trillion dollar bill called the Health and Economic Recovery Omnibus Emergency Solutions Act, or HEROES Act.
Shown Here: Introduced in House (05/12/2020) Health and Economic Recovery Omnibus Emergency Solutions Act or the HEROES Act . The HEROES Act included a proposal for a second round of direct payments to Americans - $1,200 for an individual, $2,400 for joint filers, and $1,200 for up to three dependents. The act provides funds for a pay increase for these workers, offering a pay raise equivalent to $13 an hour until December 31, 2020. This bill responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak and its impact on the economy, public health, state … The HEROES Act has many benefits for so-called 'essential workers' who have been working non-stop during the pandemic. Now, it’s headed to the Senate, where it is expected to face massive opposition. The HEROES Act could provide some economic relief at a time when almost 37 million Americans have lost their jobs due to the coronavirus and many others are … The HEROES Act has gained the support of many of these frontline workers, including National Nurses United, the largest union of registered nurses. Democrats scaled this back from a proposed $30,000 in canceled student loan debt. On May 16, the $3 trillion HEROES Act passed in the Democratic-controlled House of Representatives. The HEROES Act offers a larger stimulus payment than the Coronavirus Aid, Relief and Economic Security Act.