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22
Sep

Has There Been An Agreement On The Second Stimulus Package

Please remember that, given that there is still a lot of debate about the second stimulus package and there is a lot in the air, some of these answers involve speculation. This story was published from a Wire Agency feed with no text changes. Over the past six months, lawmakers on Capitol Hill have struggled to agree on a second large-scale stimulus package to help Americans survive the economic effects of the pandemic. But after an initial rise in bipartisan sentiment of passing the CARES Act in March, the two parties have remained far apart ever since. Biden has made the $908 billion proposal an “down payment” for a bigger one, The upcoming stimulus package designates and points out that the “immediately needed” relief for unemployed Americans, people who are about to be deported, and people who are struggling to pay a mortgage have already been outlined in the $3 trillion Democratic law of May 15, which the House of Representatives revised to $2.2 trillion on October 1. The good news is that help will probably come twice. The bad news is that it may still be some time before individuals receive these $1,200 stimulus checks, if at all. Republicans and Democrats agree that a stimulus must be adopted, but the overall size and whether it should include a second round of payments of $1200 to qualified individuals remain important points of tension. A smaller law could be passed now, and a bigger one could happen later: it`s possible that a subset of programs will be funded before Biden becomes president, such as unemployment benefits or the extension of the deportation ban, the new Congress re-evaluated other programs, such as a second stimulus check, after his investiture. As incumbent president, Trump would have to sign any legislation passed before Jan. 20 for it to take effect. Among the proposals of both sides were the paycheck protection program for businesses, improved unemployment insurance and another stimulus payment of up to $1200 for people who meet the requirements.

While not all commonalities manage to fit into a smaller law if passed first, it is very likely that these measures will receive multi-stakeholder support. The two sides also agree on increased financial support for coronavirus testing and the use of vaccines. Majority Leader Mitch McConnell, who has proven to be one of the fiercest opponents of the HEROES Act, is running the Republican Senate, but perhaps not for long. McConnell considers the Democrats` $2.2 trillion package too broad, so he introduced his own. .


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