Biden’s $1.9 trillion covid relief package is facing the final hurdle. Senators have been putting in overtime to get the bill ready for the vote. The Democrats are looking to pass the bill without a single nod of assent from the Republicans. The bill would be a massive gamble, to say the least. It sees an enormous amount of government stimulus to help the American economy recover from the covid drawbacks.
The Democrats are confident that the bill will be in effect by March 14, stated Democrat Pete Aguilar. On that day, the existing unemployment benefits are set to expire. The Democrats had promised the continuation of the relief in Biden’s election campaign.
The Hurdle Facing The Covid Relief Bill
The GOP is also set to offer stiff resistance once again to the planned covid relief bill. Nancy Pelosi, the Speaker, pitied the Republicans for not understanding the necessity of the spending. The Republicans are of the opinion that the bill is nothing more than a ploy to ensure votes. According to them such an amount of government expenditure is far too much given the healthy trend in the economy currently.
However, 44% of Republicans across the nation are appreciative of the bill, a study has shown. The covid relief bill will pay $1,400 per person, an amount that would help out massively.
However, should the bill turn out to be a failure, it would most certainly spell the end for Democrats for a while to come. The total expenditure is about $2 trillion and the Republicans have opposed it every step of the way.
The covid relief bill has already been stripped of quite a few major promises. The minimum wage hike to $15 was deemed disqualified as per special budget rules. Senator Joe Manchin has also managed to decrease the weekly jobless aid from $400 to $300.
Liberal Democrats fear any further concessions would turn their campaign promises into lies. Be that as it may, all of the Democrats in the House are certain that the extra funds would exponentially help the market.