US Congress Seals the Covid Relief Agreement, Government Funding
US Congress Seals the Covid Relief Agreement, Government Funding
Translate This News In

Top Capitol Hill negotiators sealed a nearly $1-trillion economic relief package on Sunday, finally providing long-standing support to businesses and individuals and providing money to deliver vaccines to a nation eager for them.

The agreement, announced by Congressional leaders, would provide a temporary $300 per week of additional jobless benefits and a $600 direct stimulus to most Americans, along with a new round of subsidies for hard-hit businesses and money for schools, health care providers, and renters facing eviction.

After months of fighting and posturing, the negotiating dynamic changed in favour of the Republicans after the election and as the end of the congressional session approached.

READ:   The Debate Over Former Japanese Prime Minister Shinzo Abe's State Funeral

President-elect Joe Biden was eager to make a deal that would deliver long-awaited help to suffering people and boost the economy, even though it was less than half the size that Democrats wanted this fall.

House leaders informed the legislature that they would vote on the legislation on Monday, and the Senate was likely to vote on Monday, too. Lawmakers were eager to leave Washington and close the tumultuous year.

“There will be another major rescue package for the American people,” Senate Majority Leader Mitch McConnell, R-Ky, said in announcing the relief bill agreement that would total nearly USD 900 billion.

READ:   Russia claims that nearly 700 Ukrainian fighters have surrendered in Mariupol

“It is packed with targeted policies to help struggling Americans who have already waited too long.” Saturday night, the Senate’s top Democrat, Chuck Schumer of New York, and conservative Republican Pat Toomey of Pennsylvania resolved a fight over Federal Reserve emergency powers. That breakthrough resulted in Sunday’s final round of negotiations.

Nevertheless, delays in finalising the agreement prompted the House to pass a one-day stopgap spending bill to avoid a midnight Sunday government shutdown. It was likely that the Senate would pass the measure Sunday night as well.

Financing plan for the government

The final agreement would be the biggest measure of spending yet. It combined relief from Covid-19 with a government-wide $1.4 trillion funding plan and lots of other unrelated tax, health, infrastructure, and education measures. Through September, government-wide funding would keep the government open.

READ:   Searching For Covid-Positive Chinese Flyer Missing From Quarantine in South Korea

Passage approached as cases of coronavirus and fatalities spiked and evidence accumulated that the economy was struggling. Months of dysfunction, posturing, and bad faith have held up the legislation. But in recent days, talks have become serious as legislators on both sides finally faced the deadline to act before leaving Washington for Christmas.