It would include federal control in the economic stimulus project

Washington dc – Congress leaders are hoping to seal an agreement today to approve an economic stimulus project this week that would be around $ 900 billion and include a new federal control for a large majority of citizens.

“I am cautiously optimistic that we will see this $ 900 billion legislative package today.” said Republican Sen. Steve Daines (Montana) – who is a member of the allocation and finance committees, in an interview with CNBC.

After pressure from Senators Bernie Sanders, independent for Vermont, and Josh Hawley, Republican for Missouri, and more liberal congressmen, including the Progressive Congress-Caucus, the idea of ​​including a federal check for the overwhelming majority is advanced. .

To bring the cost of the economic stimulus project to around $ 900 billion, the federal check could be $ 600 for most citizens and $ 1,200 for couples. Earlier this year, the federal check was $ 1,200 for most citizens and $ 2,400 for couples.

Discussions about the amount of the check are still ongoing.

The measure will also include new rounds of federal unemployment assistance – $ 300 a week for 12 weeks and the Small Business Protection Program (PPP), aimed at companies that have 300 or fewer employees. Through the new stage of the PPP it will be possible to forgive up to $ 150,000 of the loan, under certain conditions, according to the bipartisan plan that is the basis of the talks.

Bipartisan economic stimulus legislation that seeks to advance more than $ 300 million in food assistance funds for Puerto Rico, Samoa and the Northern Mariana Islands.

The legislation will also include housing assistance, for education systems, for the distribution of coronavirus vaccines and funding for diagnostic tests, and funds for auxiliaries to farmers.

Discussions are also aimed at extending to January 31 the federal government-funded housing ban.

To pass legislation this week, planes have been excluded from the bill the two most controversial issues for federal lawmakers: $ 160 billion for state and local governments defending Democrats; and a language that Republicans have promoted for months to grant immunity to companies that reopen during the COVID-19 pandemic.

The intent of Congress leadership is to add any agreement to a budget bus with allocations for the current federal fiscal year.

Since Oct. 1, Congress has funded the federal government through temporary resolutions that maintain basically the same level of spending as last federal fiscal year. The most recent resolution expires at midnight on Friday.

To avoid a partial closure of the federal government, Congress will have to approve the new budget or temporarily extend the 2020 costs again. If an agreement is reached on economic stimulus, Congress must close its work until the beginning. of the next session, No. 117, on the 3rd of January.