Washington – The $ 2 trillion stimulus bill is expected to vote Wednesday in response to the Senate’s economic consequences. The coronary virus epidemicLater on The breakthrough was the result of a dawn between congressional Democrats and Trump administration officials.
The law is the largest stimulus package in American history andA wide range of unemployment benefits, direct payments to taxpayers and hundreds of billions of dollars in assistance to agencies, hospitals and state and local governments. On Wednesday morning, congressional aides were finalizing the legal text of the bill.
“After two days of intense negotiations, sleepless nights and marathon discussion sessions, we have a bilateral agreement on the largest rescue package in American history,” Senate Minority Leader Chuck Schumer said in a speech on the Senate floor just before 2pm.
“This is not a moment of celebration, it is a necessity. Americans are sad, thinking about the future of their health, the health and economy of their loved ones, that they need to help us and do our best to help our country,” Schumacher continued.
Schumer and other congressional Democrats have argued that Senate Majority Leader Mitch McConnell lacks transparency in the original bill proposed last week and did more to help corporations than working Americans. Democrats withheld process-based votes in McConnell law Sunday and Monday, while Schumer discussed with Treasury Secretary Steve Mnuchin and other White House officials..
McConnell announced in a speech on the Senate floor Wednesday morning that there would be a vote to pass the legislation the next day. The Senate is back in session at noon.
If approved by the Senate, the move would go to a meeting for a vote. Speaker Nancy Pelosi, who introduced her own competitive bill earlier in the week, indicated in a statement that she was pleased with the final Senate package.
“The Republican bill proposed by Senator McConnell on Sunday was non-starter. This bipartisan legislation has taken the road too far to meet the needs of the American people,” Pelosi said. “House Democrats will now review the final provisions of the agreement and the curriculum of the law to determine what action to take.”
Pelosi told reporters on Wednesday that he was “optimistic” about the Senate bill. The House is not expected to vote on the bill today.
Manuchin told reporters Wednesday morning that President Trump would be “absolutely” pleased to sign the newly negotiated bill.
“This is a very important bipartisan law, which is going to be very important to help American workers, American businesses and people all over America. So, we couldn’t be more pleased with that,” Mnuchin told reporters. “I have spoken to the President many times today and he is very pleased with this law, and the impact it will have.”
The Senate is scheduled to vote. Summers told CBS News that assistants are still sending out legal legislation to reflect the final elements of the bill, which was agreed last night. This text needs to be reviewed by the leadership offices of both parties, as well as administration officials, and any necessary tweets need to be made before being billed.
He couldn’t say how long it would take, but he and McConnell still insisted that a vote be held by Wednesday.
According to Schumer’s office, the final plan includes expanding the unemployment insurance program, increasing the maximum unemployment insurance amount to $ 600 per week for four months. It provides $ 3 billion in investment in hospitals, and raises funds for state, local and tribal governments to respond to the crisis.
The newly discussed package also solves some criticism by Democrats about transparency. The bill would ban businesses regulated by the president, vice presidents, members of Congress and heads of executive branch agencies from receiving or investing in treasury programs. This will require the disclosure of any loans owed to the big traders, which is a key point of the previous discussion.
McConnell’s initial proposal also included direct cash payments to most Americans under $ 75,000 per year. The summary of Schumer’s contract does not imply that there has been any change in this provision.
The package is the third phase of congressional response to the coronavirus epidemic. The President has previously signed an $ 8.3 billion Emergency Relief Bill and another response bill written by the House Democrats that mandate free trials and provide medical and family leave for certain workers.
Nancy Cordes contributed to this report.