The newin relief aid passed both chambers of Congress on Monday, bringing the bill one step away from becoming law. All that’s left is President Donald Trump’s signature. The final contents of the stimulus bill arrived only hours before the vote, officially committing to a of up to and an additional $600 per . It also renews for 11 weeks.
A major victory for proponents of the bipartisan package, the new stimulus bill includes aand unemployment checks intended to bring direct cash flow to tens of millions of Americans. (You can . Here’s and which .)
“We advance this bill today as a first step,” House Speaker Nancy Pelosi said in a statement Monday. “We have new hope, which springs from the vaccine and from the commitmenthas to following science. We are ready for the next step.”
The coronavirus relief package is set to at least partially renew criticalat a time when the nation is seeing surging infections, hospitalizations and “horrific” deaths as a result of COVID-19. Without federal action, tens of millions of and .
Along with the text of the bill, more details emerged about the, including new limits to how many people will be qualified to receive it. Although the formula remains the same for deciding the total sum a household could get, the numbers work out to exclude more families from another round of .
A broader economic rescue bill, like the $2.2 trillion, is more likely to return to the table in early 2021, top US leaders have implied. It’s too soon to tell if that sweeping package would .
How quickly could stimulus package aid go out?
Aid would likely begin to go out within a week or two, with certain funding programs possibly receiving financial help before the end of 2020.
Here’s what we know about. These are the details for .
Why wasn’t a $1,200 second stimulus check part of the bill?
Ahas had wide bipartisan support ever since the CARES Act passed. Over the last several months, everyone from President Donald Trump and to members of Congress, economists and everyday people has advocated for another direct payment.
Last week, Trump called for “more money than they’re talking about” in stimulus checks, as large as $1,200 or $2,000 per person. Aides reportedly convinced him that making such demands would jeopardize a stimulus bill, The Washington Post reported.
Although many favor a $1,200 direct payment in theory, a second smaller stimulus check has helped keep costs below the $1 trillion cutoff that Republican lawmakers have in the past said they’d support.
Stimulus checks aren’t cheap. The IRS said this summer that it had spent $270 billion sending out 160 million checks, and on Monday, Sen. Mitt Romney, a Republican who has been involved in crafting the bipartisan stimulus proposal, forecast a cost of $300 billion if the checks were once again included for $1,200 per person. Republicans reportedly bridled at the cost.
A variety of factors could have contributed to a second stimulus check making its way into the final bill at all, from popular opinion and presidential preference to complicated negotiations that trimmed $160 billion from elsewhere, enough for a smaller stimulus check than before.
Could there be a larger stimulus bill in 2021?
Biden, McConnell and others have repeatedly described this December legislation as emergency relief instead of a sweeping economic stimulus package, and have committed to another stimulus bill in 2021.
“It’s a down payment,” Biden said Dec. 16. “An important down payment on what’s going to have to be done at the end of January and into February. But it’s very important to get done.”
Here’s everything we know right now about the.
For more information about stimulus checks, here’s, and what to know about the stimulus bill proposals that could help inform a final package.