[ad_1]
- Monday is the start of a new and brief session of Congress in which they could pass a new coronavirus stimulus bill.
- President Trump and President-elect Biden have said they want Congress to strike a deal.
- But for months Democrats and Republicans argued over the details of the funding programs – ranging from $ 500 billion to over $ 2 trillion.
- Democrats are championing a comprehensive package of unemployment relief, while the GOP supports a smaller bill, narrowly focused on helping businesses.
- Another open question is whether to issue a new set of checks for $ 1,200 directly to Americans.
- Congress has little time to settle its differences, as well as an impending government shutdown to avoid.
- Visit the Business Insider homepage for more stories.
Congress meets again Monday, presenting another chance to pass a stimulus bill to inject more liquidity into the US economy. But time is running out.
Lawmakers are returning to Washington, DC, for a short session due to end before Christmas. They must also take advantage of this time to avoid the impending shutdown of the government, which would come into effect on December 11 without new legislation.
Republicans and Democrats have been deadlocked for months on a new coronavirus relief bill, despite pressure from President Donald Trump and President-elect Joe Biden to strike a deal.
The CARES law in March authorized spending of $ 2 trillion, but expired in July.
The parties have since disagreed, unable to bridge the deep divides over how much stimulus money to allow and where to send it.
Democrats want a sweeping $ 2.2 trillion relief plan that contains a resumption of the $ 600 a week unemployment benefits agreed to in the first relief bill, as well as a second round of $ 1,200 payments for ordinary Americans.
It also covers help for small businesses and state and local government agencies struggling with the rising cost of the coronavirus.
Republicans argued for a smaller relief package, arguing the economy is better than expected. They want a number roughly the same size as the $ 500 billion package proposed in September, with relief for small businesses and increased public health funding.
Senate Republicans did not include checks for $ 1,200 in their last proposed relief bill in October, according to CNBC. In previous rounds of negotiations, the parties had agreed to additional checks, but that consensus may no longer exist.
President Donald Trump has repeatedly expressed his support for a relief bill ahead of the Nov. 3 election, although he has mentioned the problem less often since he focused on baselessly challenging its loss to Joe Biden.
However, he renewed calls for a bill to be passed in a November 14 tweet.
“Congress must now draft a Covid relief bill. It needs Democrats’ support,” Trump wrote on Twitter. “Make it big and focused. Make it do it!”
Biden called on Congress to act urgently and pass the Democratic version of the relief bill.
“For now, Congress is expected to come together and pass a COVID relief package like the Heroes Act that the House passed six months ago,” he tweeted on November 16.
Read more: Joe Biden hires around 4,000 political staff to work in the White House and federal agencies. Here’s how to increase your chances of getting a job in the new administration, according to 3 experts.
According to the Associated Press, the main sticking points “appear to be Pelosi’s demand for help from local and state governments and McConnell’s demand for a corporate liability shield reopening during the pandemic.”
But it’s not just COVID-19 relief disputes at stake in the lame session. If the two sides fail to strike a government funding deal, an emergency funding bill will expire on December 11, causing the government to shut down.
The pressure on lawmakers to find a way out of the deadlock is strong, with companies asking for help to help them through the winter, and coronavirus cases on the rise.
[ad_2]
Source link