House Speaker Nancy Pelosi said the massive $2.2 trillion coronavirus economic relief bill approved by the Senate will pass the House on Friday with “strong bipartisan support.”
House Speaker Nancy Pelosi says the massive $2.2-trillion coronavirus economic relief bill approved by the Senate will pass the House on Friday with “strong bipartisan support.”
Federal Reserve Chairman Jerome Powell said in a TV interview the economy “may well be in a recession.” A vote was initially delayed in part by concerns from Sen. Lindsey Graham and a handful of Republican senators that laid-off low-wage earners in some states might be able to temporarily collect more from the expanded unemployment insurance in the bill than from their original salaries, creating a disincentive to work.
The package also blocks foreclosures and evictions during the crisis on properties where the federal government backs the mortgage; pauses federal student loan payments for six months and waives the interest; gives states millions of dollars to begin offering voting by mail or early voting; and provides more than $25 billion in new money for food assistance programs like SNAP.The real test will be whether the House accepts the bill as is.
The onetime payments to Americans will be based on adjusted gross income reported in 2019 taxes — if they have been filed — or 2018 taxes, if they have not. The amount will decline gradually beginning with individuals who made $75,000 or married couples filing jointly who made $150,000. Individuals making $99,000 or above or married couples making $198,000 or more would receive no check. People would receive an additional $500 per child.
“The Senate is going to stand together, act together, and pass this historic relief package today,” McConnell said. “The Senate will act to help the people of this country weather this storm. This is not even a stimulus package. It is emergency relief.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White House spokeswoman Stephanie Grisham tests negative for coronavirus: White HouseWhite House Press Secretary Stephanie Grisham, under quarantine after coming in contact with a Brazilian official who tested positive for coronavirus, has tested negative, White House says More coronavirus updates:
Read more »
White House, Senate reach late-night deal on massive $2T coronavirus stimulus packageTensions have ratcheted up again on Capitol Hill -- with Sen. Lindsey Graham taking to the Senate floor and calling for an immediate end to negotiations because he said Democrats were 'nickel-and-diming at a time when people are dying -- literally dying.'
Read more »
Coronavirus live updates: White House, Senate leaders agree on $2 trillion stimulus; US deaths top 800Amid another swell in U.S. deaths, White House and Senate leaders reached a $2 trillion stimulus deal to ease financial pain across the country.
Read more »
White House, Senate reach historic $2-trillion stimulus deal amid growing coronavirus fearsWhite House and Senate leaders struck a major deal early Wednesday morning over a $2-trillion package to provide a jolt to an economy struggling amid the coronavirus pandemic, capping days of marathon negotiations that produced one of the most expensive and far-reaching measures in the history of Congress.
Read more »
White House, Senate Agree To $2 Trillion Coronavirus Rescue PackageThe Trump administration and Senate Majority Leader McConnell confirmed that the White House and Senate reached a deal for an unprecedented $2 trillion aid package aimed at propping up individuals, businesses and health care amid the coronavirus pandemic.
Read more »
White House, Senate reach deal on massive $2 trillion coronavirus spending bill“At last we have a deal,' Senate Majority Leader Mitch McConnell announced shortly before 2 a.m. Wednesday morning.
Read more »