Congress Passes Second Stimulus Package

Issue 50

12.21.20 - After days of tense negotiations and months of partisan stalemate, congressional leaders have recently announced that they have agreed on a deal that provides a $900 billion stimulus package to deliver relief for businesses and Americans throughout the country.

Senate Majority Leader Mitch McConnell said Sunday that congressional leadership from both chambers had "finalized an agreement," stating, "It is packed with targeted policies that help struggling Americans who have already waited entirely too long."

The announcement of a deal follows months of uncertainty over whether partisan divides could be closed to pass a deal before Congress is out of session for the holidays. In a joint statement on the deal, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said, "We are going to crush the virus and put money in the pockets of the American people."

The full details on what the stimulus package will look like have yet to be released. We do know, however, that the package is expected to include $600 direct stimulus payment for Americans under a certain income level, among many other programs aimed at helping the economic fallout of the pandemic – such as relief for small businesses, child care, education, the unemployed, and vaccine distribution.

Source: Financial Times