Lawmakers finalized a $900 billion coronavirus stimulus bill on Sunday which includes stimulus checks and jobless benefits that struggling Americans need. This ended a long battle in Washington that was probably the biggest rescue bill in the history of the US.
After passing months of standoff negotiations, finally, a deal was struck as 12M Americans are on the verge of losing unemployment benefits after Christmas. This deal includes reinitiation of the $300 boost as unemployment benefits thereby extending renter eviction moratoriums for an unlimited time and also stimulus checks of $600 to many Americans. Even though a deal was reached by the lawmakers, many jobless Americans will have their benefits lapse because it will take many weeks for them to get their aid because of the outdated systems of the states.
The measure is must-passing a $1.4 trillion spending bill required for funding federal programs and agencies through September 30. Congress passed an extension of a day to government funding on Sunday for giving lawmakers a day for reviewing the deal and averting a partial shutdown of the government. The bill will become law if both the Senate and House pass legislation with President Trump signing it. The chambers will vote and debate on the bill Monday.
When Can We Expect From The Stimulus Check?
The govt. will start sending stimulus checks for millions of their people next week, according to Steve Mnuchin, Treasury Secretary. In one interview with CNBC, Steven Mnuchin stated that People can expect to see their money by next week’s beginning.
The package also includes the extension of PPP, for which local newspapers, nonprofits, and broadcasters are now eligible. It will also direct $20 billion towards grants for small businesses and another $15 billion for venues hosting live events.