Lawmakers in Washington have been working all week putting the 'finishing touches' on a second stimulus package as the COVID-19 pandemic continues to rage across America. According to Senate Majority Leader Mitch McConnell (R-KY), a deal between Republicans and Democrats are in the final stages and negotiators are "on the 1-yard- line."
The nearly 1-trillion dollar package reportedly includes some badly needed funds for state and local governments, as well as money for workers, families and businesses who have struggled amid the pandemic. The package would also a second round of direct payments to eligible adults - but only half of what was sent out earlier this year in May. The bill is also said to include a federal unemployment insurance bonus of about $300 per week as well as money for vaccine distribution and assistance for rent and food. Money has also been earmarked for the Postal Service and more than $300 billion in aid to businesses.
The bill is not expected to include a liability shield for employers - which had been a top priority for Republicans.
Lawmakers are working on the bill ahead of a funding deadline to avoid a shutdown as funding for the government ends midnight Friday. McConnell says lawmakers will likely approve a short stopgap spending measure to avoid the shutdown while they continue to work through the weekend to finish the stimulus bill.
Senate Minority Leader Chuck Schumer (D-NY) said the bill would be the "largest stimulus bill in the history of our country, with the exception of the CARES Act."
If approved and signed by President Donald Trump by next week, the second round of checks would likely come about one to two weeks later. If you have signed up for direct deposit with the IRS, the checks could hit your bank account before the end of the year.
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