Politics A bipartisan group of senators unveil a compromise $908 billion stimulus plan that includes $300 federal unemployment benefits, but omits a 2nd round of stimulus checks

18:50  01 december  2020
18:50  01 december  2020 Source:   businessinsider.com

Economists are calling for more stimulus checks. Here's where assistance plans stand

  Economists are calling for more stimulus checks. Here's where assistance plans stand As coronavirus stimulus aid has stalled, one group of prominent economists is calling for a second set of stimulus checks to help ease Americans' burden.But lawmakers on Capitol Hill still need to work out their differences before they can approve another coronavirus stimulus package that will trigger those payments.

Transportation including airlines, airports, transit and Amtrak would get billion in funding, a person familiar with the plan said. Bear in mind that members of the bipartisan House Problem Solvers Caucus, which put forward a compromise during the fall that was rejected by Pelosi, also plan to

A $ 300 federal enhanced unemployment benefit will start going out this week for some. The benefits stem from an Executive Memorandum President In a statement, FEMA noted that the approval authorizes these states to begin paying $ 300 a week in addition to state unemployment benefits

a group of people standing in front of a building: AP Photo/J. Scott Applewhite © AP Photo/J. Scott Applewhite AP Photo/J. Scott Applewhite
  • A bipartisan group of senators unveiled a $908 billion stimulus plan that contains federal unemployment benefits but omits another round of $1,200 direct payments for taxpayers.
  • The plan also includes aid for strapped state and local governments.
  • The compromise package represents a concerted effort to break the deadlock on Capitol Hill on another coronavirus relief plan, but its unclear whether it will gain traction.
  • Visit Business Insider's homepage for more stories.

A bipartisan group of senators unveiled $908 billion stimulus plan on Tuesday aimed at breaking the monthslong deadlock on Capitol Hill.

Will There Be Another Stimulus Check? Bipartisan Legislators Introduce COVID Relief Plan

  Will There Be Another Stimulus Check? Bipartisan Legislators Introduce COVID Relief Plan At $908 billion, the package is less than what Democrats want and more than what Republicans proposed but legislators said it was time to compromise to get necessary help to the American people.On Tuesday, Democratic and Republican senators and representatives, as well as independent Senator Angus King, announced a plan for another round of relief. Their $908 billion package includes state and local aid, expanded unemployment insurance, support for small businesses and help for those with student loans.

Both parties support restarting enhanced unemployment benefits . But to do so, it will almost certainly require a broad stimulus deal. Trump might try to bypass Congress and issue a memorandum to repurpose that money for enhanced unemployment benefits . He's hinted at that before.

More than 30 Democratic senators are urging Senate leaders to extend two unemployment insurance programs set to expire at the end of the year. After finding support as it bases, Apple (AAPL) is looking to officially join the group . In addition to Apple stock making the Leaderboard Watchlist and

The plan was introduced by a group of lawmakers that include Democratic Sen. Joe Manchin of West Virginia; Republican Sen. Susan Collins of Maine; and Democratic Sen. Mark Warner of Virginia.

"Our action to provide emergency relief is needed now more than ever before," Manchin said at a press conference.

The Washington Post reported on Tuesday that the plan includes:

  • $300 federal weekly unemployment benefits for four months.
  • $240 billion in state and local government funding.
  • Six-month liability shield for businesses from coronavirus-related lawsuits.

But the compromise plan omitted another round of $1,200 stimulus checks, likely inan attempt to keep the plan's price tag under $1 trillion. A previous effort from Republicans to unveil a stimulus package of that size failed in July because many GOP senators were reluctant to support a costly plan, pointing to the rising national debt.

A bipartisan group of senators wants to pass emergency Covid-19 relief

  A bipartisan group of senators wants to pass emergency Covid-19 relief The latest competing Covid-19 relief proposals in Congress, explained.The proposal comes after months of stalemate on stimulus talks, and during a critical time in the Covid-19 crisis. About 14 million Americans receiving unemployment benefits will see those programs expire at the end of the month unless Congress takes action, and cities and states around the country are also facing massive budget shortfalls.

Some jobless Americans will start seeing heftier unemployment checks as soon as this week, depending on where they live.

If the second stimulus check is the same as the first stimulus check under the Cares Act, then the Senate Republicans proposed to extend enhanced weekly unemployment benefits , but they would This could equate to about 0 or $ 300 per week for supplemental unemployment benefits , rather

Lawmakers have not passed another coronavirus relief bill since the spring when Congress pumped over $3 trillion to support individuals and businesses as the economy collapsed under the weight of the coronavirus pandemic. Negotiations between the White House and congressional Democrats ultimately went nowhere over the summer and in the runup to the election.

Instead, McConnell has touted a $500 billion relief plan that emphasizes funding for schools, public health systems and small businesses. But Democrats blocked it twice and argue it's not enough to address the dual economic and health crises.

Senate minority leader Chuck Schumer on Monday urged a compromise as congressional leaders face increasing pressure to pass another relief package as coronavirus cases surge nationwide.

"Both sides must give. We have a Democratic House, and in the Senate there is a need for Democratic votes to pass any bill," Schumer said on Tuesday from the Senate floor. "So we need a true bipartisan bill— not this is our bill, take it or leave it — that can bring us together and solve the desperate needs of the American people, which we all very much want to solve."

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Stimulus Check Possible, but Would Be Part of 'Different Legislation' Than Current Relief Bill: GOP Senator .
Republican Senator Bill Cassidy said the stimulus relief plan will not have any direct payments to Americans—a concession necessary to appease cost-cutting conservative in the House and Senate. The GOP lawmaker is one of 10 senators crafting the package which he said is the "only" relief bill that can even make it to President Donald Trump's desk. Your browser does not support this video Cassidy pushed back on calling it a "stimulus bill," instead labeling it a "relief bill" in which there will be no direct account deposits similar to the $1,200 feature of March's CARES Act.

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