Lawmakers have finally come close to a stimulus deal worth $900 billion, which will accommodate a stimulus check and other unemployment benefits for the American public. With the legislation of this bill, Congress is going to end one of the longest standoffs in American history. And they will also be producing the largest rescue bill that will surely see the country come out of this pandemic.
It is interesting to note that it took them 7 months to come to terms with another stimulus deal, something that should have been dealt with earlier. With close to 12 million about to lose out on their unemployment benefits, it was important that Congress do something about it.
What Will the Stimulus Package Contain Along with the Stimulus Check?
The current stimulus package restarts a boost of $300 to the insurance benefit for federal unemployment, along with a payment of $600 as a stimulus check. Unfortunately, most American citizens might still see their unemployment benefits lapse- for it would take the IRS quite some time to implement the new stimulus package. According to sources, this measure will be bound together with a government spending bill of $1.4 trillion that will help fund programs and federal agencies till the 30th of September.
The lawmakers decided to uphold another extension for a day on the funding of the government. This would allow Congress to iron out all the details for the stimulus deal- and see to it that a stimulus check is added in an iron-bound clause. This would also avert a shutdown of the entire government.
It is necessary for both the Senate and the House to pass the legislation in order for this stimulus package deal to turn into law. And then, President Trump will have to put his signature on it. It is expected that both the houses would debate on this today. A stimulus check will be in the works- which means the economy is finally looking up.