January 23, 2021 Issue, Page 8 of 8

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January 23, 2021 Community Elk City Elementary students practice sight words Mrs. Henthorn’s kindergarten students were using sight words, their phonics rules, and sentence structures to write a complete sentence on their desk. Courtesy photos. How Can New Relief Package Help You? Now that the $900 billion stimulus package has been signed into law, individuals and businesses affected by COVID-19 will receive some additional relief. How might you be helped? Here are the key provisions of the new legislation, along with how they could affect you: Stimulus payments to taxpayers Ifyou had an adjusted gross income of up to $75,000 ($150,000 for joint filers and $112,500 for heads of household), you're eli- gible for a $600 payment, or $1,200 if you filed jointly, as well as $600 per child younger than 17. The payment amount is gradual- ly phased out above certain income thresholds. By now, you may have already received your payment, especially if you had estab- lished direct deposit with the IRS. If you don’t need the money to pay your bills, you could use it to help build an emergency fund or add to your IRA or other investment account. Paycheck Protection Program (PPP) ‘The new legislation provides about $285 billion in additional funding for Paycheck Protection Program (PPP) loans. If you own a business, you may be eligible for a PPP loan, even if you already received one from last year. The loan is forgivable if at least 60% of the money is spent on employee payroll costs, with the other 40% going for other allowable expenses. The new legislation expands the definition of allowable expenses for PPP loan forgiveness and clarifies that business expenses paid with PPP proceeds are tax deductible. Also, $20 billion of new money has been allocated for Economic Injury Disaster Loan (EIDL) grants. Priority for second PPP loans and EIDL grants will be given to small businesses (with WTC of Burns Flat announces 300 or fewer employees) that hada significant decline in revenue. You can apply for a PPP loan through any existing Small Business Administration (SBA) lender or through a participating bank or student achievements credit union. To begin the application process, visit the SBA web- Western Technology Cen- is known for, Each January, Canute: site at sba.gov. ter-Burns Flat recently pre- WTC honors students from Maecy Teeter, Business Unemployment assistance sented student awards in the the fall semester for their at- Technology Outstanding ‘The new legislation provides an additional $300 per week to re- respective training program tendance, attitude, and grade Attitude cipients of unemployment insurance for weeks of unemployment for achievements from the Fall Kaylie Pitzer, Health Ca- starting after Dec. 26, 2020, and ending on or before March 14, point average. Students have 2020 semester of training. It reers Outstanding Student was great to have the students met the challenge and even in Cori Lumpkin, Teacher 2021. It also continues the expanded eligibility of benefits under in person all semester to pro- this unprecedented time WTC Prep Outstanding Attitude the CARES Act and provides an additional 11 weeks of unemploy- vide the hands-on, industry- continues to “educate people Dalton Williams, Welding ment benefits through March 14, 2021, for those who remain certified training that WTC for success”! Outstanding Student Alge- unemployed after state employment benefits are no longer avail- bra II Outstanding Student able. If you haven't already done so, contact your local unemploy- ment office to apply for benefits. Merritt: Rental assistance Jace Potter, Auto Service Technology Outstanding ‘The relief legislation provides $25 billion of rental assistance to Attitude and Outstanding state and local governments for paying rent, utilities and hous- Student ing stability services. To find out if you're eligible for aid, contact Kylie Powers, Cosmetol- your local Housing and Urban Development (HUD) office or visit ogy Outstanding Attitude the HUD website at hud.gov. The new relief package also extends Jamie Donaldson, Health the current eviction moratorium through Jan. 31, 2021. Careers Outstanding Atti- tude - not pictured. Hopefully, 2021 will be the year in which we put the pandemic Alissa Teeters, Engineer-behind us. But in the meantime, you may get some valuable aid ing Outstanding Attitude - from the new relief package. not pictured. Justin Martin, Service Careers Outstanding Stu- This article was written by Edward Jones provided by Robert Stephens dent and Perfect Atten- of Edward Jones Financial Advisor. dance Braeden Taylor, Welding Outstanding Attitude and Outstanding Student Edward Jones Andrew Contreras, Con- MAKING SENSE OF INVESTING struction Outstanding Edward Jones, Member SIPC Student and Perfect Atten- dance 2014 W. 3rd | Elk City, OK 73644 Bailey Ray, Teacher Prep Outstanding Student and Perfect Attendance. Robert Stephens (580) 225-3 1 56 Photos submitted by Sarah Financial Advisor [email protected] Hirschman. Baxter for Western Technology Center School Board I humbly ask for your vote on February 9th for Western * Technlogy Center School Board. Sincerely, Dennis Baxter Paid for by: Dennis Baxter Braeden Taylor