Washington – After months of unsuccessful negotiations, the House and Senate are expected to vote on Monday on a $ 900 billion relief effort that will provide long-awaited help and a massive spending bill to Americans, small businesses and industries affected by the ongoing coronavirus pandemic is supposed to keep federal authorities going.
Congress leaders agreed on the coronavirus measure on Sunday, ending the month-long Republican-Democratic stalemate that delayed aid to those hardest hit by the public health crisis that ravaged the U.S. economy. The $ 900 billion package is slated to be added to a $ 1.4 trillion omnibus spending bill that the federal government will fund through September.
“We’re going to do something good with this legislation, but we need to recognize that more needs to be done to eradicate the virus and put more money into the pockets of the American people,” House spokeswoman Nancy Pelosi said Monday In a speech on the floor of the house she expected a “strong bipartisan vote” on the rescue agreement.
The legal text for the deal has yet to be released, but Democratic leaders said the aid package will be included Direct payments of $ 600 to most Americans$ 300 per week in improved federal unemployment benefits for the next 10 weeks and more than $ 284 billion in corporate loans under the popular paycheck protection program. The relief measure also extends the eviction moratorium by one month and provides more than $ 30 billion to expedite the spread of coronavirus vaccines.
The state spending deal is said to have a provision ending the surprise medical billing, an issue with mutual support.
The $ 600 checks are half as generous as the $ 1,200 payments distributed under the CARES bill in the spring. Americans who made less than $ 75,000 in 2019 are eligible for the full $ 600, with payments for those who made up to $ 100,000, according to a summary of those distributed by lawmakers and Washington Post published laws decrease. Parents will also receive $ 600 per dependent child, an increase over the $ 500 under CARES.
Treasury Secretary Steven Mnuchin told CNBC that Americans could see the payments in their bank accounts as early as next week.
“This is a very, very quick way to get money into the economy,” Mnuchin said Monday morning. “Let me emphasize, people will see this money early next week.”
Democratic and Republican congressional leaders on Sunday expressed optimism that the combined measures would be swiftly approved by both houses of Congress, although it is unclear when votes will take place. Calling the deal a “first step”, Pelosi predicted that further relief would come once President-elect Joe Biden and Vice-President-elect Kamala Harris take office in January.
The House of Representatives and Senate most recently approved a major aid package addressing the economic chaos wrought by the March pandemic, despite the fact that the two houses then took their own separate measures that did not find enough support from both parties to pass to become. The White House and Pelosi spent the intervening months in failed negotiations on another measure, although they disagreed on the size and scope of the package.
Republicans pushed for the next bill to provide corporate liability protection, while Democrats wanted billions of dollars in federal aid to state and local governments that have suffered a financial blow from the pandemic. In the end, neither of the two priorities was included in the targeted action agreed by the Congress leaders.
With several key COVID relief programs coming to an end near the end of the year and a government funding deadline, four congressional leaders Pelosi, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy are available – gathered last week, to work out a deal to fund the government and help those struggling with the pandemic.
Talks stalled after Pennsylvania GOP Senator Pat Toomey released a language to curb the Federal Reserve’s emergency lending agency. Ultimately, however, he agreed to restrict the language to only apply to three credit facilities set up by the CARES Act in March.
To avoid losing government funding while negotiating the details of the packages, Congress twice approved emergency funding measures that gave Congress leaders more time to close a deal and bypass a partial government shutdown. The second rolling resolution, extending state funds through Monday, was approved by both chambers in a rare weekend meeting and signed by President Trump late Sunday.
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