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Stimulus package negotiations: A three-way battle of wills. What is happening today



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Congress is on the clock to reach an agreement before it breaks for the election.

Sarah Tew / CNET

With November 3 election just 20 days away, mood starts to flare as a renewed sense of urgency to pass coronavirus aids continues to increase. In the heart of the dead end another financial rescue package are three competing ideas about what’s going to happen, all under the leadership of Washington’s strongest voices.

House Speaker Nancy Pelosi wants one large, comprehensive $ 2.2 trillion plan to provide a support package that includes a second stimulus control. “No one is waiting until February,” Pelosi told CNN on Tuesday. “I want this a lot now, because people need help now.”

President Donald Trump wants one different, less $ 1.8 trillion bills and a the second direct payment it could increase control size for families by changing an important qualification. “STIMULUS! Go big or go home !!!” Trump tweeted Tuesday.

Senate Majority Leader Mitch McConnell wants the Senate to approve a stand-alone bill on Oct. 19 to fund more payroll assistance without further scrutiny. “We will have time to send it before proceeding as planned to the pending Supreme Court nomination as soon as it is reported by the Judiciary Committee,” McConnell said in a statement announcing the vote.

What does all this mean and what can happen next? Read on for more information on the uneven path of stimulus calls. We update this story frequently.






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How likely is it that Congress will approve an independent bill?

It is difficult to say what will happen, and whether the increasing pressure before the election will lead to a softening of one side’s position. There are currently two ideas in play for a standalone account.

The first comes from the White House and calls on Congress to reuse $ 130 billion in unused money from the wage protection program included in the CARES law. The money would finance new financial support to small businesses or the aviation industry. (It is not enough to fund stimulus checks.)

The second is McConnell’s Senate proposal to fund more wage assistance. “When the full Senate returns on October 19, our first business vote will again vote on targeted relief for American workers, including new funding for the PPP,” McConnell said Tuesday.

Pelosi has consistently rejected an independent bill that is not linked to a major support package. In other words, she has said that she would support a tailor-made bill if there are also assurances that a larger business is also working.

Why is Trump’s position changing?

Trump has been increasingly vocal in his support for a large stimulus bill, saying at one point that he wanted to correlate more stimulus money than Republicans and Democrats.

But at the same time treated for COVID-19 with one powerful steroid that is known to have side effects, he instructed his team on October 6 to stop negotiating a new deal, and lead Congress instead to send a stand-alone bill for another round of $ 1200 checks and renew payroll assistance for airlines and other industries.

On October 9, he encouraged negotiators to “go big” on a new stimulus bill and on October 12, he urged other Republicans to “withdraw” the proper process for Barrett’s confirmation hearings “and go for STIMULUS for the people! !!”

According to Trump on October 6, his conviction that an agreement on a stimulus package would not be reached in the short term and the desire to quickly confirm the Supreme Court’s associate right holder Amy Coney Barrett to the decision. Barrett’s confirmation hearing began on October 12.

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Democrats and Republicans have not agreed on how much aid should be included in the stimulus package.

Sarah Tew / CNET

What dates can a new relief bill pass, either before or after the election?

With just a few weeks before the election on November 3, Congress will run out of time to send further help.

If talks fail before November 3, Pelosi has said that Congress could pick up the thread in another economic rescue package after the election. But with ongoing talks, we have suggested five possible dates, both before and after the November election. These are just speculative. If a bill passes, here it is how quickly we think the IRS can send a second stimulus check.

When can a stand-alone stimulus bill or package pass?

The voices of the house

The Senate votes

The President signs

October 26

October 27

October 28

November 9

November 10

11 November

16 November

November 17

November 18

November 23

November 24

November 25

February 1, 2021

February 2, 2021

February 3, 2021

Did not the House vote on a new stimulus bill?

On October 1, the House of Representatives passed a revised heroic act which includes one second stimulus control and additional benefits For example improved unemployment benefits for tens of millions of Americans. However, the new House proposal, mostly approved by Democrats, has little chance of advancing through the Republican-controlled Senate.

According to Pelosi, the vote on the revised hero proposal was independent of ongoing negotiations with Finance Minister Steven Mnuchin. If Pelosi and Mnuchin agree on a new proposal, a new bill would need to be drafted separately and voted on in both the House and the Senate before it is signed into law. The total cost of the package and funding allocations as a tax credit for children have been the main sticking points.

Why did the House pass the revised Heroes 2.0 if the talks continue?

The vote is believed to provide coverage for the House Democrats when they campaign without a new relief law, much like the Senate did earlier in September for Republican members with its meager $ 650 billion bill. Like the meager Senate proposal, this new chamber proposal has little chance of advancing in the second chamber.

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Will America approve a new stimulus bill? Both sides agree that more help is needed.

Angela Lang / CNET

What areas do Republicans and Democrats agree on?

Suggestions from both sides include another incentive payment of up to $ 1,200 for individuals which meets the requirements, among substances that help airlines, improved unemployment insurance and expand the payroll check program for companies.

So what happens now?

The situation is still in motion. We are currently waiting to see if there is any development. Anything can still happen.

For more information, here is how soon you can get your second stimulus check and what to know about HEALS, CARES and Heroes stimulus proposals that can help inform a final package.




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