Was An Agreement Reached On The Stimulus Package

In the meantime, if Democrats sweep Georgia`s second-round elections and take control of the Senate, they will be free to adopt a new stimulus that builds on what was voted on in the lame ducks session. And these stimulus will bring the nation closer to full employment if job losses are mitigated by a $908 billion aid package in December and January. On Monday, House Majority Leader Steny Hoyer said the House of Representatives would vote Wednesday on a week-long spending bill, known as a Continuous Resolution (CR) to avoid a government ceasefire, as lawmakers struggle to reach an agreement. State aid to federal authorities expires Friday. On Monday, White House economic adviser Larry Kudlow said the Trump administration and Congress were close to reaching an agreement on aid. “We hope they reach an agreement in the near future,” Maryland Majority Leader Steny Hoyer said after the vote, referring to the economic discussions. “They haven`t reached one yet. Important issues remain unresolved. The agreement would be the first major response to the pandemic since the pioneering law in March. On Wednesday, congressional leaders said they were nearing an agreement on a $900 billion stimulus package, which could include a second round of stimulus measures and be completed by the end of the week. While many are theoretically in favor of a direct payment of $1,200, a second, smaller stimulus check is seen as a way to keep the cost below the trillion-dollar cutoff that Republican lawmakers have argued in the past. Since the adoption of the CARES Act, a second cyclical review has received broad support between the parties. In recent months, everyone from President Donald Trump and President-elect Joe Biden to members of Congress, economists and everyday men have spoken out in favor of an additional direct payment. Some important parts of the bill have changed in recent days.

The initial $908 billion inter-party proposal, released earlier this week by the moderates group, would not have approved a new round of stimulus measures. Negotiators had tried to keep the law`s price tag below $1 trillion to maintain Republican support for efforts. However, the bill would have contained money for national and local governments. Hopes of some lawmakers for a second stimulus test for $US1,200 or a separate bill were dashed on Friday when two senators tried to get the stand-alone bill (PDF) passed and were rejected. A more comprehensive package, such as the $2.2 trillion CARES Act in March, is expected to return to the table in early 2021, U.S. officials have hinted.