After months of negotiations, and on the verge of exhaustion of unemployment benefits, leaders of Congress and the White House are about to reach an agreement on the economic stimulus package for the COVID-19 pandemic, as confirmed by our sister network NBC News.
The deal, which is yet to be finalized, would include
an economic stimulus check of at least $ 600,
according to NBC, and would exclude the $ 160 billion proposal for state and local funding.
On Tuesday night, the four congressional leaders held a telephone meeting with Treasury Secretary Steven Mnuchin.
The stimulus checks provided for in the new $ 900 billion aid package
will be less than the $ 1,200 distributed eight months ago.
However, President Donald Trump has pushed for the approval of the new economic stimulus, a proposal that has received support from liberals like Senator Bernie Sanders, according to Politico.
"We are moving toward developing a pandemic relief package that could be approved by both houses with bipartisan majorities," said Senate Majority Leader Mitch McConnell.
The minority leader in the Senate added that they are close to reaching an agreement, but
"it is not yet a closed deal
.
"
A new bipartisan economic stimulus proposal is being discussed in Congress
Dec. 9, 202002: 30
Senator Steve Daines told CNBC that the deal would include
$ 300 billion for the
Paycheck Protection Program, which provides loans to small businesses.
On the other hand, the controversial short-term federal protection against lawsuits related to the coronavirus, one of the issues that blocked the negotiations, would be left out.
A large sum of resources would also go to finance the distribution of the vaccine, as well as education, transportation and health care.
For the legislation to pass no later than this Friday, the Senate would need unanimous support, according to CNBC.
However, it remains to be
seen whether the Congressional Progressive Caucus will accept
a check for less than the $ 1,200 they were demanding.
In early December, a bipartisan $ 908 billion proposal dropped the long-awaited $ 1,200 check, though it did contemplate $ 300 a week in federal unemployment benefits and small business financing.
With information from CNBC, Politico.