Congress is nearing a deal on the long-delayed COVID-19 stimulus package that many called for throughout the summer and fall.
However, it will be lacking – if passed as expected – in some significant ways.
The relief bill would deliver additional “paycheck protection” subsidies to businesses, $300 per week jobless checks, and $600 or so stimulus payments to most Americans.
After months of stalemate, Congress appears closer to a new economic relief bill that could put more money in Americans’ pockets in the form of a new round of stimulus checks. @kasie has the details. pic.twitter.com/Gk7IknIC2e
— TODAY (@TODAYshow) December 17, 2020
This would be the first significant package moved since the CARES Act in March, which was viewed as a landmark effort. Since, Democrats have called for additional federal steps, but Republicans have largely blocked those efforts citing the government’s $27 trillion debt.
“We made major headway toward hammering out a bipartisan relief package,” Senate Majority Leader Mitch McConnell of Kentucky told reporters Wednesday morning.
AP: Negotiators near agreement on long-delayed COVID-19 aid bill
While the new bill will likely include payments to most Americans – aid to states and cities is being scrapped, as well as liability protections for companies over COVID-19 litigation concerns.
Lawmakers raced to pass a deal in an effort to curb the economic deterioration that has come in light of a resurgent COVID-19.
Nearly eight million Americans have fallen into poverty since this summer, according to a new report, since CARES Act funding expired.
This story will be updated as more information becomes available.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]