United States stimulus plan - what's in the deal?

Darnell Taylor
March 26, 2020

Republicans and Democrats were arguing over unemployment insurance provisions, among other parts of the bill.

Pelosi said in a Tuesday interview that she hopes to pass the bill via unanimous consent, a procedure that does not require the lawmakers' physical presence.

Missing from Wednesday's votes was No. 2 Senate Republican John Thune, who said in a statement he did not feel well when he woke up on Wednesday and chose to take a charter flight home to South Dakota "out of an abundance of caution".

"I think the American people will assess the progress that's been made for workers as a result of taking a little bit of extra time for hospitals and for state and local governments who are going to benefit mightily because of the work that we've done", Bennet said Monday on the Senate floor.

"We'll have a debate, and then we'll have a voice vote to bring it up and move it to the president's desk", he told Fox News Channel.

The unanimous vote Wednesday came despite misgivings on both sides about whether it goes too far or not far enough and capped days of hard negotiations as Washington confronted a national challenge unlike it has ever faced.

The package is meant to flood the economy with cash in a bid to stem the impact of an intensifying epidemic that has killed more than 1,000 people in the United States and infected at least 60,000.

The stimulus package follows two others that became law earlier this month.

Pelosi Calls McConnell's Coronavirus Relief Proposal a 'Non-Starter'
Mnuchin tweeted Thursday morning that at President Donald Trump' direction, "we are moving Tax Day from April 15 to July 15". The person familiar with the talks said lawmakers were set to eliminate the reduction in payments to lower-income Americans.

One of sticking points that held Democrats back from supporting the initial bill was language that would allow the U.S. Treasury to issue loans to big businesses without publicly disclosing those loans for up to six months.

McConnell chafed at the tactics but supported the end result. It will pump trillions into an economy devastated by the coronavirus. But this latest deal eclipses the earlier packages in scope and spending.

- That fund will include a number of transparency and oversight measures, including public disclosure of where the loan money goes, an inspector general to oversee the program, and a provision that high-level government officials can not benefit.

The agreement on the joint deal comes five days after intense negotiations between Senate Democrats and Republicans, and the White House.

The plan also includes several Democratic oversight initiatives.

According to a summary circulated by the office of Democratic leader Chuck Schumer, businesses owned by the president, vice president, members of Congress or heads of executive departments would be excluded from receiving that aid. In addition, children, spouses and other relatives will also be banned, it said. In addition, it establishes worker protections attached to federal loans for businesses, and it prohibits airlines from using the funds for CEO bonuses.

Senate minority leader Chuck Schumer, D-N.Y., told the Senate that after almost a week of "arduous" negotiations that they now have a bipartisan agreement on the largest rescue package in American history but its passing is not a moment of celebration but of necessity to help Americans suffering medically and financially due to the coronavirus that is rapidly spreading throughout the country.

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