COVID Stimulus Plan Approved by House of Reps; $2.2 Trillion in The Works
Last Thursday night, a $2.2 trillion Democratic COVID-19 stimulus plan has been approved by the House of Representatives.
This bill that is being contradicted by Republicans aims to accomplish the following measures:
- Restore the $600 per week enhanced unemployment benefit through January;
- Send a second $1,200 direct payment to most Americans;
- Provide $436 billion in relief over one year to state and local governments;
- Approve more money for a second round of Paycheck Protection Program loans for the hardest-hit businesses and industries;
- Send $25 billion to airlines to cover payroll costs;
- Add $75 billion into COVID-19 testing and contact tracing efforts;
- Put $225 billion into education and $57 billion into child care; and
- Allot billions for rental and mortgage assistance.
The stimulus measure won by a vote of 214-207. All Republicans have opposed the plan. However, it has been noted that eighteen Democrats voted against the measure. As of this time, the conversation between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin hasn’t led to an official agreement.
Meanwhile, last Wednesday, Mnuchin provided a $1.6 trillion proposal. This proposal includes:
- $250 billion for state and local government relief
- $400 per week in extra unemployment benefits
- $150 billion for education
- $75 billion for COVID-19 testing and contact tracing
- and $60 billion for rental and mortgage assistance
“We have come to, kind of, in the ballpark of some things,” Pelosi revealed. “Still way off in terms of state and local government, state and local government, our heroes: health care workers, police and fire, teachers, teachers, sanitation, transportation, food workers – the people who make it possible for us to be here. They make government function, state, and local.”
Pelosi said that Democrats “have concerns about a sufficient amount of money to address the unemployment insurance needs of the American people.”
Editor’s note on the $2.2 Trillion COVID Stimulus Plan Approved The House:
This piece is to inform you about the $2.2 Trillion COVID-19 Stimulus Measure Approved by The House.
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