Stimulus package will be lifeline for many beleaguered Everett residents, businesses


More than several thousand Everett residents are presently unemployed and collecting unemployment compensation which runs out the day after Christmas.

As a result of the virus, Massachusetts ranks among the highest states in numbers of unemployed in the nation.

With Congress finally preparing to act to alleviate the suffering caused by the economic damage brought on by restrictions placed on businesses by the virus, a second federal stimulus package will extend unemployment benefits until the end of March for everyone in the United States.

Those presently unemployed can expect to receive their Massachusetts unemployment check and an additional $300 a week until the end of March.

The stimulus will not include another round of $1200 in direct payments to most Americans.

Small business aid and renters’ assistance will be included, however.

A freeze on evictions will be extended for those who cannot pay their rent and reauthorize the Paycheck Protection Program to give a second round of subsidies to businesses struggling through the pandemic – and this would include many smaller businesses in Everett.

After January 20, when President-elect Joe Biden is sworn in, he is expected to have Congress appropriate the $300 billion or so it will take for $1200 stimulus checks to be distributed to all those making under $75,000 a year.

Biden is also believed to be considering reducing federal loan debt across the board for college students past and present buried with student debt.

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