Congress is attempting to succeed in an help settlement
At a press conference on December 1, 2020 on Capitol Hill, non-partisan members of the Senate and House of Representatives gather to announce a framework for new laws in support of Covid-19.
Kevin Lemarque | Reuters
Congress wants to scrape together a coronavirus aid package this week and prevent a loss of performance that could put millions of Americans in further financial danger by the end of the year.
A non-partisan group of lawmakers is hoping to publish a more detailed overview of their $ 908 billion aid proposal on Monday when the law is drafted. Democratic leaders have endorsed the plan as the basis for an emergency law as a sustained surge in Covid-19 infection weighs on hospitals across the country.
Legislators are aiming to pass both pandemic aid and spending laws before the government closes on Saturday. You have to quickly solve several sticking points to meet the deadline.
Senator Bill Cassidy, a Republican from Louisiana and part of the bipartisan group that drafted the $ 908 billion plan, told CNBC Monday that state and local government support and corporate liability due to lawsuits in the Coronavirus-related issues are the biggest remaining issues in the relief package. He believes the proposal has a better chance of getting through a divided Congress and past President Donald Trump’s desk than existing single-party bills.
“I think this package is successful in some ways,” Cassidy told CNBC’s “Squawk Box”.
Senate Majority Leader Mitch McConnell, R-Ky., Has called for approximately $ 500 billion worth of what he calls “targeted” package to be passed. House Speaker Nancy Pelosi, D-Calif., And Senate Minority Chairman Chuck Schumer, DN.Y., had called for more than $ 2 trillion in spending before adopting the bipartisan plan.
On Sunday, Schumer described the compromise as a stopgap solution to stimulate the country until next year. He hopes that after President-elect Joe Biden takes office on January 20, Washington can pass a “much bigger bill”.
“We are at the last minute, we have a bipartisan compromise. It should be the emergency framework we have now to sort things out for the next few months,” he told reporters in New York.
The main rules on expanding unemployment introduced earlier this year expire at the end of the month. About 12 million people could lose benefits if Congress fails to act.
Millions of Americans will also face eviction unless lawmakers maintain a moratorium that expires in late 2020.
The bipartisan package would extend these lifelines. It would invest nearly $ 300 billion in Paycheck Protection Program micro-loans and another $ 160 billion in state and local state aid.
The proposal would reintroduce the federal unemployment insurance surcharge at $ 300 per week. It would also provide funding for the distribution of Covid-19 vaccines, schools and the transportation sector, among other things.
It wouldn’t include a second round of $ 1,200 in direct payments to most Americans. Lawmakers like Senator Bernie Sanders, I-Vt., Have questioned how much help families would actually get without another stimulus check.
On Friday, Biden said direct payments under an aid package “may still be in the game”.
McConnell has also supported comprehensive protection for businesses and universities from coronavirus-related lawsuits, which Sanders and others negotiating with Democrats oppose. The bipartisan plan, introduced last week, would create temporary federal liability protection while states lay down their own laws.
McConnell and Trump have also spoken out against additional aid to financially troubled state and local governments. However, Cassidy and other Republicans have campaigned for relief to save jobs among first responders and teachers who could otherwise lose their jobs if governments cut costs.
“This is about robust growth,” Cassidy said on Monday. “This is about taking care of first responders. I don’t want to be the type to defuse the police.”
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