WASHINGTON (AP) – Top Capitol Hill negotiators reached a deal on Sunday on a $ 900 billion COVID-19 economic aid package, finally delivering long overdue aid to businesses and individuals and providing money to deliver vaccines to a country that longs for them.
The agreement, announced by congressional leaders, would secure a temporary supplemental unemployment benefit of $ 300 a week and an immediate stimulus payment of $ 600 to most Americans, along with another round of grants for hard-hit businesses and money for schools, health care providers and tenants. facing eviction.
It came after months of strife and attitude, but the negotiating dynamics shifted in favor of the Republicans after the election and as the congressional meeting drew to a close. President-elect Joe Biden was eager to strike a deal to bring long-awaited relief to those suffering and boost the economy, even if it was less than half the size of Democrats this fall.
House leaders informed lawmakers that they would vote on the legislation on Monday, and the senate would likely vote on Monday as well. Lawmakers were eager to leave Washington and close a tumultuous year.
“There is yet to be a major bailout for the American people,” said Senate Leader Mitch McConnell, R-Ky., Announcing the deal for an emergency bill totaling nearly $ 900 billion. “It’s full of targeted policies to help Americans who have waited too long.”
Democrats recognized that it was not as robust a aid package as they initially sought – or, they say, the country needs. House Speaker Nancy Pelosi promised more to come once President-elect Joe Biden takes office.
“It’s a first step,” she said. “We have to do more.”
A fight for the Federal Reserve’s emergency powers was resolved Saturday night by the Senate’s top Democrat, Chuck Schumer of New York, and conservative Republican Pat Toomey of Pennsylvania. That breakthrough led to a final round of negotiations on Sunday.
Still, the delays in finalizing the deal prompted the House to issue a one-day emergency stop to prevent the government from closing at midnight Sunday. The senate would also likely approve the measure on Sunday evening.
The final agreement would be the largest spending measure to date. It combined $ 900 billion for COVID-19 aid with a $ 1.4 trillion government funding plan and a host of other unrelated tax, health, infrastructure and education measures. The government-wide funding would keep the government open through September.
Passage approached as coronavirus cases and deaths increased and evidence was mounting that the economy was struggling. Months of dysfunction, attitude and bad faith held up the legislation. But talks got serious in recent days as lawmakers on both sides finally hit the gig deadline before leaving Washington for Christmas.
‘This bill is a good bill. Tonight is a good night. But it’s not the end of the story, it’s not the end of the job, ”Schumer told reporters. “Anyone who thinks this bill is enough doesn’t know what’s going on in America.”
The $ 300 per week unemployment benefit was half of the $ 1.8 billion supplemental federal unemployment benefit under the CARES Act in March and would be limited to 11 weeks instead of 16 weeks. The $ 600 direct incentive payment to most people would also be half the payment in March, subject to the same income limits in which a person’s payment began to phase out after $ 75,000.
The CARES law was credited with keeping the economy from falling off a cliff this spring amid widespread lockdowns this spring, but Senate-controlled Republicans cited debt problems in their fight against democratic demands. Republican politicians, starting with President Donald Trump, focused more on reopening the economy and less on taxpayer-funded steps like supplemental unemployment benefits.
Progress came after a bipartisan group of pragmatists and moderates devised a $ 908 billion plan that built a middle position that the four main leaders of Congress – the GOP and the Democratic leaders of both the House and Senate – used as the basis for their talks. Lawmakers urged leaders on both sides to pull out of the hardline.
“We put our heads down and worked around the clock for nearly a month to draft a bipartisan, bicameral law to meet the emergency needs of our country,” the bipartisan group of about a dozen lawmakers said in a statement. “Our consensus law was the basis of this latest package.”
Republicans most planned to revive the Paycheck Protection Program with $ 284 billion, which would cover a second round of PPP grants to particularly hard-hit companies. Democrats won stand by for low-income and minority communities.
Late decisions would limit unemployment benefits of $ 300 a week – half of the additional federal unemployment benefit under the CARES Act in March – to 11 weeks instead of 16 weeks as before. The $ 600 direct incentive payment to most people would be half of the March payment, subject to the same income limits in which a person’s payment begins to taper off after $ 75,000.
Following the announcement, Schumer and Pelosi, D-California, announced additional details, including $ 25 billion in rental aid, $ 15 billion for theaters and other live venues, $ 82 billion for local schools, colleges, and universities, and $ 10 billion for Day-care.
The government credit bill would fund the agencies until September next year. That move would likely provide a final $ 1.4 billion installment for the US-Mexico border wall as a condition of getting his signature.
The bill was a driving force to carry out much of Capitol Hill’s unfinished business, including a nearly 400-page water resources bill that aims at $ 10 billion for 46 Army Corps of Engineers flood control, environmental, and coastal defense projects. Another addition would extend a series of soon-expiring tax breaks, including one for craft brewers, wineries, and distillers.
It would also include plenty of clean energy facilities, $ 7 billion to increase broadband access, $ 4 billion to help other countries vaccinate their people, $ 14 billion to lack funding for transit systems, Amtrak, and airports.
Democrats failed to provide immediate tax relief to states and local governments in a month-long battle, but they have successfully pushed for $ 22 billion to help states and local governments with COVID-19-related health spending like testing and vaccines.
The rush at the end of the session also promised relief for victims of shockingly high medical surprise bills, a phenomenon common when providers drop out of insurance company networks.