Update: U.S. House to Vote Friday on Senate-Approved Aid Package
The U.S. House is scheduled to vote Friday on a $2.2 trillion coronavirus economic relief bill that the Senate approved unanimously Wednesday night.
House Speaker Nancy Pelosi predicted the bill will pass the House with “strong bipartisan support.”
The bill will bring aid to businesses, workers and health care systems struggling with the coronavirus pandemic, the unprecedented response to it, record new jobless claims and mounting evidence that the economy is in a recession.
The Senate vote came despite misgivings on both sides about whether it goes too far or not far enough and capped days of difficult negotiations as Washington confronted a national challenge unlike it has ever faced.
Today, the government reported 3.3 million new weekly unemployment claims, four times the previous record, fresh evidence that the U.S. is sinking into recession as coronavirus isolation steps have led to business closures.
The 880-page measure is the largest economic relief bill in U.S. history. Majority Leader Mitch McConnell appeared somber and exhausted as he announced the vote — and he released senators from Washington until April 20, though he promised to recall them if needed.
“Pray for one another, for all of our families and for our country,” said McConnell, R-Ky.
“The legislation now before us now is historic because it is meant to match a historic crisis,” said Minority Leader Chuck Schumer, D-N.Y. “Our health care system is not prepared to care for the sick. Our workers are without work. Our businesses cannot do business. Our factories lie idle. The gears of the American economy have ground to a halt.”
Underscoring the effort’s sheer magnitude, the bill finances a response with a price tag that equals half the size of the entire $4 trillion-plus annual federal budget. The $2.2 trillion estimate is the White House’s best guess..
The bill would provide one-time direct payments to Americans of $1,200 per adult making up to $75,000 a year and $2,400 to a married couple making up to $150,000, with $500 payments per child.
A huge cash infusion for hospitals expecting a flood of COVID-19 patients grew during the talks to an estimated $130 billion. Another $45 billion would fund additional relief through the Federal Emergency Management Agency for local response efforts and community services.
Democrats said the package would help replace the salaries of furloughed workers for four months, rather than the three months first proposed. Furloughed workers would get whatever amount a state usually provides for unemployment, plus a $600-per-week add-on, with gig workers like Uber drivers covered for the first time.
Businesses controlled by members of Congress and top administration officials, including Trump and his immediate family members, would be ineligible for the bill’s business assistance.
Schumer boasted of negotiating wins for transit systems, hospitals and cash-hungry state governments that were cemented after Democrats blocked the measure in votes held Sunday and Monday.
State and local authorities would receive up to $150 billion in grants to fight the virus, care for their residents and provide basic services.
Republicans won inclusion of an employee retention tax credit that’s estimated to provide $50 billion to companies that retain employees on payroll and cover 50% of workers’ paycheck up to $10,000. Companies would also be able to defer payment of the 6.2% Social Security payroll tax.
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