House Introduces $2.2T Stimulus Bill

A second round of stimulus checks is a little closer than before.

Treasury Secretary Steve Mnuchin said both parties – Republicans and Democrats – have agreed another round of stimulus checks are to be in the next COVID-19 relief bill. He didn’t reveal anything specific about the jobs, but they would be similar to the first Coronavirus Aid, Relief and Economic Securities Act payouts.

It’s been months of back and forth with Congress over another deal, and it’s still not clear if lawmakers will discuss any new deal or if a bill will be passed.

With Americans getting impatient, both parties are blaming the other for the failure of any bill passage. Democrats blame the GOP for not offering enough funding, and Republicans are accusing Democrats of taking advantage of the crisis to further their agenda.

In late March, the $2 trillion CARES Act offered more than $200 billion in direct payments to over 130 million Americans. That legislation gave people earning less than $75,000 a year a $1,200 check with married couples earning less than $150,000 getting $2,400. $500 was added to stimulus checks for any dependent under 17 years old.

Nancy Pelosi, House speaker, delayed plans for a vote on the new $2.2 trillion stimulus package in the hopes for additional talks with other lawmakers and Mnuchin.

Democrats’ HEROES Act 2.0 is a slimmed-down version of the House’s $3.6 trillion HEROES Act the House passed back in May. Republicans blocked the bill, saying it was full of wish list items. The new bill includes $1,200 stimulus checks, $600 in weekly federal supplements for unemployment insurance and $436 billion in both local and state government aid.

Mitch McConnell, Senate Majority leader, said Republicans would not pass a bill that large. They would rather have a smaller package, such as the $500 billion package, half of what they initially proposed in the HEALS Act.

McConnell said the two parties are so very far apart in terms of help.

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Posted by on Oct 2 2020. Filed under New. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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