Top Washington negotiators, propelled by a late-night agreement on the last major obstacle to a COVID-19 economic relief package, said a Sunday agreement is all but inevitable to deliver long-overdue pandemic aid of almost $1 trillion.
Only a handful of issues remained, said the Senate’s top Democrat. “Barring a major mishap, the Senate and House will be able to vote on final legislation as early as tonight,” said Sen. Chuck Schumer of New York.
The breakthrough involved a fight over Federal Reserve emergency powers that was resolved by Schumer and conservative Republican Pat Toomey of Pennsylvania. Aides to lawmakers in both parties said the compromise sparked a final round of negotiations.
Lawmakers and aides said it would likely require all of Sunday to finalize and draft the final agreement, which is already guaranteed to be the largest spending measure yet, combining COVID-19 relief with a $1.4 trillion omnibus spending bill and reams of other unrelated legislation on taxes, health, infrastructure and education.
The measure is finally nearing passage amid a frightening spike in coronavirus cases and deaths and accumulating evidence that the economy is struggling. Lawmakers and aides say it would establish a temporary $300 per week supplemental jobless benefits and $600 direct stimulus payments to most Americans. It would provide a fresh round of subsidies for hard-hit businesses and money for schools, health care providers and renters facing eviction.
Late-breaking decisions would limit $300 per week bonus jobless benefits — one half the supplemental federal unemployment benefit provided under the CARES Act in March — to 10 weeks instead of 16 weeks as before. The direct $600 stimulus payment to most people is also half the March payment, subject to the same income limits in which an individual’s payment begins to phase out after $75,000.
President Donald Trump is supportive, particularly of the push for providing more direct payments. “GET IT DONE,” he said in a late-night tweet.
It would be the first significant legislative response to the pandemic since the $1.8 trillion CARES Act passed virtually unanimously in March.
The COVID-19 legislation was held up by months of dysfunction, posturing and bad faith. But talks turned serious last week as lawmakers on both sides finally faced the deadline of acting before leaving Washington for Christmas.
The measure is being added to a $1.4 trillion spending bill and combined with lots of other unfinished work, including previously stalled legislation to extend tax breaks, authorize water projects, and address the problem of surprise sky-high medical bills for out-of-network procedures.
It would be virtually impossible for lawmakers to read and fully understand the sprawling legislation before a House vote expected on Monday. Senate action would follow.
In the meantime, with a government shutdown deadline looming at midnight Sunday, lawmakers faced the reality of needing to enact another temporary spending bill — the second in as many days — to avert a shutdown of non-essential activities by federal agencies on Monday.
Lawmakers had hoped to avoid that step, but progress slowed Saturday as Toomey pressed for the inclusion of a provision to close down Fed lending facilities. Democrats and the White House said it was too broadly worded and would have tied the hands of the incoming Biden administration, but Republicans rallied to Toomey’s position.
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