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Stimulus package negotiations on the edge of the knife: Today’s update for a deal



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

Sarah Tew / CNET

Despite meeting daily for several weeks, Democratic and White House negotiators are still seeking an agreement a new economic stimulus package. “I do not think it’s dead at all,” White House Financial Adviser Larry Kudlow said on Sunday. “I think if we could get this thing on the Democratic side, we’ll get it settled on the Republican side,” he added, stressing that negotiations will continue this week.

The two sides remain about $ 4 billion apart, according to the latest $ 1.8 trillion offer from the administration. Still, there is sharp resistance to the package from both sides at a time. With presidential election just three weeks away and the country’s capital fixed on the hearings for Supreme Court nominee Amy Coney Barrett, the negotiators have an uphill climb to reach an agreement before November 3.

Democrats are looking for a $ 2.2 trillion bill that the Republican-led Senate is unlikely to approve, despite assurances from Kudlow that they would “agree to it.”

The stimulation bill would contain one new direct payment of up to $ 1,200 per person and a change in the rules on eligibility for maintenance beneficiaries it could provides more money for families. (Here is biggest stimulus check takeaways to know.)

Read on for more clarity on the twists and turns of stimulus talk. We update this story frequently.






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What’s this about a $ 130 billion stand-alone bill?

As a way to get around the bargaining chip, Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows on Sunday called on Congress to divert $ 130 billion in unused money from the wage protection program included in the CARES Act. It would finance new financial support to small businesses or the aviation industry. (It is not enough to fund stimulus checks.)

It is unlikely that such a measure would pass the House of Representatives, as Pelosi has rejected an independent bill in the absence of insurance, there will also be a major stimulus proposal. She has also expressed doubts about Trump’s ability to use executive orders for additional aid funding.

“No. No. He can not do this by executive order,” she said on October 5. “He can not make the money without the US Congress. The power of the bag begins in the House.”

On August 8th Trump signed an executive order and three memoranda in a short-term attempt to slow expulsions, extend unemployment benefits to a lesser extent and defer payroll taxes. There has been no development since Trump proposed on September 4 that his administration could consider another executive measure to circumvent Congress.

Didn’t Trump stop stimulus talks last week?

President Donald Trump – while being treated with one powerful steroid that is known to have side effects, after in hospital with COVID-19 – told his team on October 6 to stop negotiating a new deal. Instead, he instructed Congress to send a stand-alone bill for another round of $ 1,200 checks and renew payroll assistance for airlines and other industries. On October 9, he encouraged negotiators to “go big” on a new stimulus bill.

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 legal candidate Amy Coney Barrett led 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

When could a new relief cost pass?

With just a few weeks to go 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 negotiations currently underway, we have proposed five possible dates, both before and after the November elections. 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

26 October

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 the House not pass a new stimulus bill? What’s the story?

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 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 Senate before it was 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 vote on Heroes 2.0 if the talks continue?

The vote is believed to provide coverage for the House Democrats when they run campaigns 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 bill, this new House 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 Democrats and Republicans 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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