House expected to vote Monday on $900 billion COVID-19 relief package with $600 stimulus checks

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WASHINGTON, DC – DECEMBER 16: House Majority Leader Steny Hoyer (D-MD) walks out of the House Chamber and talks to reporters at the U.S. Capitol on December 16, 2020 in Washington, DC.

  • House Majority Leader Steny Hoyer said Sunday that he expects the chamber to vote Monday on a $900 COVID-19 stimulus package.
  • Congressional leaders announced Sunday they had reached a deal on the stimulus package.
  • The legislation includes $600 stimulus checks, a $300-per-week increase in unemployment benefits, and $300 billion in aid for small businesses.
  • Visit Business Insider’s homepage for more stories.

Democratic leaders in the House expect to vote Monday on a $900 billion relief package, Majority Leader Steny Hoyer said Sunday.

“I’m pleased we have reached an agreement on COVID-19 relief and an omnibus, which I expect we’ll pass tomorrow and send to the Senate,” he tweeted. “In order to provide time to prepare the bill for consideration, the House will meet at 6:30 p.m. to consider a one-day continuing resolution.”

A continuing resolution is a stopgap funding bill which would keep the government funded for an extra day. Republicans in the Senate must also approve it, then the measure needs a signature from President Donald Trump to avoid a shutdown of the federal government after midnight.

Congress recently approved a two-day stopgap funding bill to buy more time for stimulus negotiations.

On Sunday afternoon, congressional leaders announced they had reached a long-awaited deal on a COVID-19 relief package after months of tumultuous talks.

“More help is on the way. Moments ago, in consultation with our committees, the four leaders of the Senate and House finalized an agreement,” Senate Majority Leader Mitch McConnell said in a floor speech. “It would be another major rescue package for the American people.”

Republicans and Democrats fought over many provisions, particularly a liability shield to guard firms from coronavirus-related lawsuits and assistance to states and municipalities. Both provisions were left out of the deal.

The compromise plan includes $600 stimulus checks for many Americans, a $300-a-week boost to unemployment benefits, and $300 billion in aid for small businesses via the Paycheck Protection Program.

Top Republicans and Democrats expect swift passage of the legislation on Monday, though no bill text has been released so far. 

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Congress will try to buy more time for stimulus negotiations by voting on a one-week extension of government funding until December 18

pelosi mcconnell stimulus checks
House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch McConnell (R-KY).

  • House Majority Leader Steny Hoyer announced the chamber would vote on a one-week extension of government funding to buy more time for relief negotiations.
  • “I am disappointed that we have not yet reached agreement on government funding,” Hoyer said on Monday.
  • Congress is aiming to attach a coronavirus relief bill to the must-pass spending package this month.
  • The bipartisan group of senators crafting the $908 billion relief package may release the legislation on Tuesday at the earliest.
  • Visit Business Insider’s homepage for more stories.

Congress will vote on Wednesday on a one-week extension of to buy more time for coronavirus relief negotiations, according to House Majority Leader Steny Hoyer.

“I am disappointed that we have not yet reached agreement on government funding,” Hoyer, the chamber’s number two Democrat, tweeted on Monday. “The House will vote on Wednesday on a one-week CR to keep government open while negotiations continue.”

The move would keep the federal government funded until December 18. Another short-term spending package or large-scale omnibus bill must be passed by then or result in a shutdown.

On Capitol Hill, the chamber’s number two Democrat said both parties must engage in some trade-offs as negotiators continue work on an emergency federal rescue package.

“We have to come together and have some give and take,” Hoyer told reporters on Capitol Hill on Monday, per pool reports. “But not getting a deal done – it’s not an option from my perspective.”

The Washington Post reported that negotiations on a government funding bill are being held up by strong disagreements on numerous policy issues, notably immigration. Lawmakers are aiming to attach a coronavirus relief package to the critical spending bill this month.

But the newspaper reported that legislative text for the $908 billion bipartisan framework may come Tuesday at the earliest. It’s expected to include $300 federal weekly unemployment benefits, a fresh round of small business aid, as well as assistance for state and local governments. But it will likely exclude a second wave of $1,200 stimulus checks

President Donald Trump may support the final rescue package depending on its design, his top economic advisor said on Monday.

“I believe that it is likely he will, but it depends on some of the policy details inside,” Kudlow said Monday at a Washington Post Live event. “I stress it’s not the aggregate number so much as it is the specific policies that would be discussed and proposed.”

He struck an optimistic tone about the trajectory of relief talks so far: “We are moving in the right direction I think, we’re getting closer.”

Read more: Market wizard Chris Camillo grew his trading account by $9.7 million in 2020. Here’s the simple strategy he’s using to mint millions.

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