Nancy Pelosi and Chuck Schumer have endorsed a $908 billion coronavirus relief deal, according to Fox Business.
“In the spirit of compromise, we believe the bipartisan framework introduced by Senators yesterday should be used as the basis for immediate bipartisan, bicameral negotiations. Of course, we and others will offer improvements, but the need to act is immediate and we believe that with good-faith negotiations we could come to an agreement.”
The bill includes $300 billion for small businesses through the Paycheck Protection Program, $240 billion in aid for state and local governments, $180 billion to extend boosted unemployment benefits at $300 per week through March and a temporary moratorium on COVID liability lawsuits to allow states enough time to design their own laws, according to Fox News.
This would also account for $16 billion into vaccine distribution, testing and contact tracing, put $82 billion into education, and give $45 billion for transportation.
This compromise does not include another stimulus check.
“We just don’t have time to waste time.”
“In light of the urgency of meeting the needs of the American people and the hope that the vaccine presents, it’s time for Leader McConnell to sit down with Democrats to finally begin a true, bipartisan effort to meet the needs of the country.”
“It would be very helpful and very important that there be additional fiscal support for the economy, really to get us through the winter. I think we made a lot of progress faster than we expected, and now we have a big spike in COVID cases, and it may weigh on economic activity. People may pull back from activities they were being involved in or not engage in new activities.”
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At the same time, safety nets set up in the early days of the pandemic with the passage of the March CARES Act have already lapsed or are set to do so at the end of December. About 12 million laid-off workers will be left with no income on Dec. 26 after two key federal jobless aid programs expire, according to one estimate from the Century Foundation, a nonprofit think tank.
Still, with just six legislative days left on their calendar, it’s unclear whether lawmakers will be able to overcome a monthslong deadlock and reach an agreement that will be able to pass both chambers of Congress and that President Trump is willing to sign.
During congressional testimony this week, Federal Reserve Chairman Jerome Powell reiterated his plea to lawmakers to pass another stimulus package to help the economy get through the winter.