While not giving out $1200 stimulus checks the lawmakers announced a bill that will provide $300 in weekly extra federal unemployment benefits. Joe Biden will have to deal with the direct payments when he takes over in the new year.
The aid package of $908 billion releasing on Monday is essential for averting government machinery shutdown this weekend.
Impact Of The New Proposal On Unemployment Benefits
The IRS is currently dealing with around a million papers of the tax refund.
Dick Durban, Democrat, Illinois believes that providing renter’s assurance and aid for small businesses excluding relief checks was the only option for reaching an agreement with the Republicans. Republicans are firm regarding exceeding the level of $900 billion while finalizing any deal.
Bill Cassidy thinks that another round of checks should be released to help those in great need and how it is only a relief bill.McConnell has also shown interest regarding this bipartisan effort and hopefully, Trump will embrace it too.
This proposal includes $300 in unemployment benefits, extending the freeze on people evictions, those unable to pay rent, reauthorizing the PPP for giving another set of subsidies to small businesses during this pandemic.
However many lawmakers including Sanders, Josh Hawley, Ocasio-Cortez, and others opposed this $908 billion bill.
On Sunday, lawmakers said that the deal on checks would be finalized when Biden takes over on 20th January when vaccines would be distributed and a divided Senate with a thin Democratic majority would prevail in the House.
Joe Manchin, Senator stated that this bipartisan group will be focused on providing urgent aid in the coming four months. He was clear that more money is required to help people and businesses struggling due to this pandemic.
Manchin believes that with Biden’s team in place, they can place a new proposal which paves the road for more recovery.