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title: New Stimulus Package
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# COVID-19 Small Business Resource Center

### Table of Contents

## New Stimulus Package Makes PPP, FFCRA, and Other Changes

Updated: 7/13/2022

The Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020. The CAA provides various forms of stimulus and support including extensions and changes to earlier COVID-related legislation. A summary of these measures is below.

**Note:** On March 11, 2021, President Biden signed the American Rescue Plan Act (ARPA), which further amended some of the programs discussed below. For more information, see the [ARPA](https://sbshrs.adpinfo.com/covid19-american-rescue-plan-act?hsLang=en) section. Some of the content on the page below has been removed because it was based on a provision in the law that now has expired.

## Tax Exclusion for Employer Student Loan Repayment Benefits Extended

The CARES Act provided that employers may contribute up to $5,250 annually toward an employee's student loans, and such payment would be excluded from the employee's income as well as employment taxes. The $5,250 cap applies to both the student loan repayment benefit as well as other educational assistance (e.g., tuition, fees, books) provided by the employer under Section 127 of the Internal Revenue Code (IRC). The provision originally applied to student loan payments made by an employer through 2020. The CAA extends the tax treatment of such payments through 2025.

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