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Home / Tips and Tricks / Stimulus package update: Senate prepares new bill, White House knocks out $ 1.8 trillion offer

Stimulus package update: Senate prepares new bill, White House knocks out $ 1.8 trillion offer



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Talks about a second stimulus control are progressing in trouble. Here is the latest status update.

Angela Lang / CNET

Whether Congress adopts another stimulus this year through a series of stand-alone bills or a large package, coronavirus pandemic on the economy and public health continue to assemble. According to Johns Hopkins University, over 218,000 people in the United States have died from COVID-19, and the known fall rate has now reached over 8 million people.

President Donald Trump continues to encourage negotiators to work together for a new stimulus bill, despite flip-flopping to stop negotiations and go “big” on a $ 1.8 trillion package unveiled on October 9. The bill supports $ 1,200 stimulus checks and a renewal of payroll assistance for airlines and other industries.

Following backlash from both Republicans and Democrats, Trump’s camp is now urging Congress to divert funds from disaster relief to an independent bailout proposal – possibly for small businesses or the aviation industry – while continuing to move forward on the overall package.

The current White House proposal is a $ 1.8 trillion package, less than $ 2.2 trillion, presented by the Democrats. On Monday, Senate Majority Leader Mitch McConnell is preparing to put a $ 500 billion stand-alone bill in support of the Paycheck Protection Program to the vote. It will not include stimulus controls.

Foolish yet? Confused? You’re not alone. We help you take care of the top questions that may be in a stand-alone bill or an overall stimulus package – one that would either squeak before November 3 election or perhaps return to the drawing board after the election. This story is updated frequently.

What’s in the White House’s $ 1.8 trillion offer?

House Speaker Nancy Pelosi has met for several months with the Treasury Department and White House chief negotiator Steven Mnuchin on the size and strategy of the next bill on economic relief. The two negotiate every day this week and get closer to each other.

According to The Washington Post, Mnuchin’s current bid is $ 1.8 trillion and includes:

Another incentive payment: Stimulus controls up to $ 1200 for eligible adults and $ 1,000 for qualified child dependents (CARES law set up dependent payments of $ 500).






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Unemployment benefit: The proposal puts improved unemployment benefits at $ 400 a week (down from $ 600 included in the CARES Act but up from $ 300 that Trump approved this summer through executive action).

Funding for coronavirus testing and tracking: Earlier this week, Mnuchin waived the ground on this former blocker and said the White House would include money for coronavirus testing and tracking for its stimulus offering.

State and local funding: A major fixed point, the proposal contains $ 300 billion for cities and states, up from $ 250 billion in an earlier proposal.

What can a stand-alone bill contain?

As a way to achieve some of the goals that a comprehensive bill can achieve, White House leaders have sometimes pushed for smaller, targeted bills that they say everyone can agree on.

Salary check protection program: The Senate bill on October 19 will focus on the wage protection plan that was part of the spring CARES Act and provided forgivable loans to small businesses as an incentive to keep employees on wages. The Senate is not interested in presenting a larger bill before the election, McConnell has said, although the White House administration insists it could cause Senate Republicans to fall in line.

$ 1,200 stimulus checks: October 6 after being hospitalized for COVID-19, Trump said he would sign a bill that approved additional $ 1,200 check immediately. Other direct payment to qualified persons is one of the areas that everyone – both Republicans and Democrats – seems to agree on.

Airline assistance: With the aviation industry hit hard by coronavirus-induced economic slump and started tough workers, negotiators have tagged airline support for independent legislation. “Let me just be really clear,” Pelosi said on October 8. “I have been very open to having an independent bill for the airlines.” The House previously approved a $ 28.8 billion bill for airlines that Pelosi suggested could be the starting point for legislation.

Support for the US Postal Service: This summer, the House passed a bill that would address concerns about the service and the upcoming election and provide an additional $ 25 billion in additional funding. The Senate did not raise the bill.

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Enhanced unemployment benefits are already coming to an end in many states, leaving people anxiously awaiting a new aid package that includes more funding for the program.

James Martin / CNET

What’s in the Democrats’ $ 2.2 trillion offer?

Pelosi continues to point to the updated version of The Heroes Act (PDF) as the basis for a new bill. The house approved the bill on 1 October largely along party lines. The new hero law contains:

Direct payments: The current Democratic proposal includes payments of up to $ 1,200 per person and $ 500 for each addict.

Salary support for small businesses and aviation workers: The democratic plan would repay wage protection and extend the program to aviation workers.

Unemployment benefit: The plan would authorize $ 600 federal unemployment benefits by January 2021.

State and local funding: The bill would provide state and local government support to pay key workers, including first-time workers and health workers.

Housing support: The proposal would renew financial support for tenants and homeowners to meet rent payments and mortgages.

For more information, here is what you need to know about coronavirus difficulties loans and unemployment insuranceand what you can do if you have lost your job.




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