Congressional negotiators working on the $900 billion coronavirus economic stimulus package got through some of the remaining holdups on Thursday as they sealed another final agreement to extend more help towards the unemployed, businesses, and stimulus payments for most Americans.
More About The New Package
The elements central to this compromise are Over 300 billion aid for businesses; $300/week federal bonus jobless benefit with the renewal of state benefits; the $600 stimulus check 2 payments for individuals; money and vaccine shots distribution funds for renters, Postal Service, people requiring food aid and schools. However, hang-ups involving the powers of the Federal Reserve, local and state government requirements regarding matching for grants for disasters, also several smaller disagreements regarding non-pandemic things have delayed progress, aides which were involved in negotiations. One top negotiator alarmed that the recent problems can knock the negotiations off track.
Mitch McConnell, Majority Leader, Senate said that instead of lapsing into politics and letting the negotiations get off track they should move swiftly with bipartisanship for closing out the issues, sealing the deal with writing text which can get converted into law quickly. Jerome Powell, Chairman, Federal Reserve said on Wednesday that the argument in favor of fiscal policy is very strong. This matter is a positive thing which is understood now.
Mitch McConnell pushed the Democrats for dropping their $160 billion local and state government relief package and also gave up one of his key priorities: liability protections for small businesses and institutions like the universities apprehending coronavirus lawsuits. The inclusion of $600 stimulus check 2 came following current endorsements from progressives like Bernie Sanders, Senator, I-Vt, and Donald Trump, President, who is dissatisfied with the entire package.
The proposal of $900 billion has been a template with regards to the talks, however, the bipartisan section led by Susan Collins and Joe Manchin favored aid towards localities and states instead of the stimulus check 2.