$900 Billion Pandemic Stimulus Deal Finalized in Senate

Congress has finalized a $900 billion stimulus and spending bill to assist in coronavirus pandemic relief.

$900 Billion Pandemic Stimulus Deal Finalized in Senate

Congress has finalized a $900 billion stimulus and spending bill to assist in coronavirus pandemic relief.

Senate Majority Leader Mitch McConnell along with House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer announced the deal on Sunday.

Although the bill has not been formally written, the House is expected to approve it on Monday followed by the Senate.

The plan is slated to provide payments of $600 to taxpayers and also includes unemployment benefits through March of $300-per-week, according to a report by Bloomberg.

The Paycheck Protection Program which assists small businesses will receive $284 billion to be used for funding small-business forgivable loans.

The package also includes funding for transportation, vaccine distribution, and education among other things.

Extended negotiations have led to Congress twice passing temporary stop-gap funding to continue government operations as agreement between the Republicans and Democrats took longer than expected. The relief package is to be integrated into the $1.4 trillion spending bill which will the fund the federal government over the next year. Congress plans to pass another one-day extension to permit the votes required to pass the bills on Monday.

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