We Have a Stimulus Deal — Government Shutdown Averted
On December 14, members of the U.S. Senate held a press conference and noted with pride that a bi-partisan deal had been reached, and a new stimulus package would be passed any day. On Thursday, it was clear that the deal was in trouble and a government shutdown could have occurred, negatively impacting government employees as soon as Monday. On Friday, it fell apart, and a stop-gap funding order was passed to ensure that the government could stay open for the weekend.
But the government pulled through late Sunday night – though to some on social media, it was too little, too late.
$600 dollars isn’t even enough for most Americans to pay half their mortgage, as the average is roughly $1300. Let’s not even get started on the cost of housing in most cities.
The Washington Post reports that the current plan calls for stimulus checks of $600 per person, adults and children in a household alike, to begin phasing out at $75,000 in 2019 income. It also calls for an additional $300 per week in unemployment benefits. There is also an extension on the eviction moratorium. The total value of the package is estimated at $900 billion, and it does not include funding for state, local or tribal governments.
Mid-week, the debate was over whether to add stimulus checks, and if so, how much should they be. By Friday, the wrench dropped into the works was a proposal by Sen. Pat Toomey (R-Pa.) to limit the Federal Reserve System’s emergency lending powers.
Early Sunday evening, Senate Majority Leader Mitch McConnell (R-Ky.) announced that lawmakers had finalized their negotiation and that the bill would pass later in the night, avoiding a government shutdown on Monday morning.
Congress has been working on a second stimulus for eight months, after it became apparent that the COVID-19 pandemic would last longer than the first stimulus. Nevertheless, the terms were contentious and led to two stop-gap funding bills – which sparked action by several cities and states to fund their own relief programs.
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