President-elect Joe Biden has thrown his support behind the package and urged Congress to approve the compromise agreement, which would provide more financial aid, including for abefore the end of the year.
The bipartisan effort seeks a middle ground between a $ 500 million Republican Senate proposal and the USthat House Democrats have been pushing since the summer.
According to the bipartisan group working on the package, the new proposal is intended to serve as “a short-term emergency response package to get us through a very harsh winter to the new government for the first few months,” said Rep. Josh Gottheimer, a Democratic member of the bipartisan group, on NBC’s Meet the Press on Monday. The proposal would omit sending Americanshowever.
A vocal group of Democrats and at least one Republican have saidto individuals and families. According to Politico, Senate Republican Josh Hawley said he has urged President Donald Trump to veto the bill if it doesn’t include a new stimulus check.
The bipartisan group is expected to publish its proposal early this week.
On December 3, Democratic leader and house speaker Nancy Pelosi said the compromise rescue plan should be rolled out into a 2021 budget agreement. Although the current budget expires on December 11, Congress is expected to pass a short-term bill to shut down the government so that it can continue working on the budget until next week.
While neither Republicans nor Democrats think the $ 908 billion plan is perfect, perhaps the best chance Congress will need to provide more aid in 2020 before it can consider a larger package in 2021 – possibly one that.
“I would support the Heroes Act passed by the House,” Biden said at a news conference Friday. “But this is a democracy, and you have to find the right place where enough people are willing to go in a direction that goes a long way, but is not the whole answer.”
Let’s take a look at the main funding categories covered by the new compromise proposal. We update this story with new details.
More federal unemployment benefits
Theto unemployed workers, in addition to their usual unemployment check. When this funding expired in late July, to pay a bonus of $ 300 per week. Which .
The bipartisan proposal – drafted by more than a dozen members of the House and Senate – would bring in $ 300 a week in additional federal unemployment benefits for four months. White House economic reporter Jeff Stein of the Washington Post reported that the bipartisan group could make payments retroactively for missed months.
Comprehensive Payroll Protection Program to help pay employees
The Payroll Protection Program initially made loans to small businesses that could be forgiven to cover employees’ wages and keep employees on the books instead of firing them.
The new bipartisan proposal would add approximately $ 300 billion to the small business Paycheck Protection Program. According to the Washington Post, the bill would aim to support businesses particularly hard hit by closings, including restaurants.
Renewal of tenant protection against evictions
The CARES Act has onefor tenants who were late with the rent. When that was due to expire, Trump extended the ban – but that extension also expires at the end of the year.
According to the Washington Post, the new bipartisan proposal would guard against evictions through “rent subsidy financing” by providing financial aid to landlords.
Funding for health care and coronavirus vaccinations
With the US ready to releasealready this month, the proposals focus on financing the distribution of the vaccine.
“Regarding COVID emergency response, we recognized the recent positive developmentsand the belief that it is essential to significantly fund distribution efforts to get us from vaccine to vaccination, ”Pelosi said in a statement Tuesday.
The bipartisan proposal would raise $ 16 billion for vaccine distribution, along with fundingand efforts.
read more: What you need to know about the
Liability protection against COVID-19 lawsuits
A major sticking point is that Republican lawmakers have backed the COVID-19 liability limitation, which aims to curtail lawsuits against businesses, schools, hospitals and other organizations from people who said these institutions were causing them the coronavirus incurred except in cases of gross negligence. Democrats have opposed the plan.
The two-pronged plan sets a six-month moratorium on some coronavirus-related lawsuits against organizations, giving states plenty of time to create their own liability protections, the senators said.
Money for schools and childcare
Funding for education was part of proposals for more economic aid dating back to May. The two-pronged plan would set aside $ 82 billion for education and $ 10 billion for childcare.
State and local aid
The proposal includes $ 160 billion in state and local aid, which Democrats have been supporting since this summer. Republicans have resisted, but Rep. Gottheimer told NBC on Monday that he thought the bipartisan group had almost addressed concerns.
No extra stimulus check until 2021?
The bipartisan bill would be oneto keep the total cost of the account low. The IRS said the cost of the first round of payments as of this summer is $ 270 billion.
Biden said Friday, “It would be better if they have the $ 1,200.” After being sworn in as president on January 20, a Biden government could file for a follow-up bill with a higher price tag thanfrom .
While we wait to see how and when, here’s what you need to know , and .