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Stimulus package update: Senate prepares new bill, White House pounds out $ 1.8 trillion



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The discussions about a second stimulus check progress in seizures. Here is the latest status update.

Angela Lang / CNET

Whether Congress passes another bill this year to facilitate incentives through a series of stand-alone bills or a large package, the pressure is on Coronavirus pandemic on the economy and Healthcare continue assembling. Over 218,000 people have died from COVID-19 in the United States, according to Johns Hopkins University, and the known case burden has now reaches over 8 million people.

President Donald Trump continues urge the negotiators to work together on a new stimulus package, despite flip-flops in stopping negotiations and “big” on a $ 1.8 trillion package that was unveiled on October 9th. The bill supported $ 1,200 stimulus checks and a payroll renewal for airlines and other industries.

Following the backlash from Republicans and Democrats, Trump’s camp is now calling on Congress to divert funds from the coronavirus emergency money into a standalone bailout bill – possibly for small businesses or the aviation industry – while pushing the overarching package.

The current proposal from the White House is a package of $ 1.8 trillion, less than the $ 2.2 trillion proposed by the Democrats. On Monday, Senate Majority Leader Mitch McConnell prepares to put a standalone $ 500 billion bill to the vote in support of the paycheck protection program. It is not included Stimulus checks.

Still dizzy? Confused? You’re not alone. We will help you to find out which top topics could be included in a separate invoice or an overarching economic stimulus package – one that either comes before the Election on November 3rd or maybe return to the drawing board after choosing. This story is updated often.

What does the White House’s $ 1.8 trillion stimulus offer include?

House spokeswoman Nancy Pelosi has met with Treasury Secretary and White House negotiator Steven Mnuchin for months about the size and approach of the next economic relief bill. The two negotiate every day this week and grow closer.

According to the Washington Post, Mnuchin’s current offering is $ 1.8 trillion and includes:

Another incentive payment: Irritation tests up to $ 1,200 to the eligible adults and $ 1,000 for qualified child addicts (the CARES law Set dependent payments to $ 500).


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Next stimulus checks: what to expect


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Unemployment benefits: The proposal envisages an increase in unemployment benefit to $ 400 per week (up from $ 600 in the CARES Act, but compared to the $ 300 that Trump authorized this summer through Executive Action).

Funding for coronavirus testing and tracking: Earlier this week, Mnuchin ditched that earlier blocker, saying the White House would include money for coronavirus testing and tracking its stimulus offering.

State and local funding: The proposal includes $ 300 billion for cities and states, up from $ 250 billion in an earlier proposal.

What could a separate invoice contain?

In order to achieve some of the goals that could be achieved with a comprehensive bill, White House leaders have at times pushed for smaller, more focused bills that all could agree on.

Paycheck Protection Program: The October 19 Senate bill focuses on the paycheck protection plan, which was part of this spring’s CARES bill, which gave small businesses unsuccessful loans to keep employees on payroll. The Senate is not interested in getting any major bill passed before the elections, McConnell said, although the White House administration insists that Senate Republicans can be reconciled.

$ 1,200 stimulus checks: October 6th after hospitalization due to COVID-19Trump said he would sign an authorizing bill another check for $ 1,200 immediately. Another Direct payment to qualified people is one of the areas where everyone – both Republicans and Democrats – seem to agree.

Airline support: With the aviation industry hit hard by the coronavirus-induced Economic crisis The negotiators have started flagging airline support for stand-alone laws. “Let me just be very clear,” Pelosi said on October 8th. “I was very open to a separate bill for the airlines.” Parliament had previously passed a $ 28.8 billion bill in support of airlines that Pelosi proposed as a starting point for the legislation.

Support for the US Postal Service: This summer the House passed bill to address concerns about the service and the upcoming elections, and provide an additional $ 25 billion in funding. The Senate did not take the bill.

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In many countries, the increased unemployment benefits are already ending and people are eagerly awaiting a new aid package that includes more funds for the program.

James Martin / CNET

What is the $ 2.2 trillion Democratic offering?

Pelosi continues to refer to the updated version of the Heroes Act (PDF) as the basis for a new bill. The House passed the bill on October 1st largely party-political. The new hero law contains:

Direct payments: The current democratic proposal calls for payments of up to $ 1,200 per person and $ 500 for each dependent.

Payroll support for small businesses and airline employees: The democratic plan would reimburse payroll protection and extend the program to airline employees.

Unemployment benefits: The plan would re-approve the $ 600 unemployment benefit by January 2021.

State and local funding: The bill would help state and local governments pay critical workers, including first responders and health workers.

Home help: The proposal would renew financial support to renters and homeowners to meet rental and mortgage payments.

More information can be found here Coronavirus hardship loan and unemployment insurance, and What can you do when you’ve lost your job?.




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