Senate to Vote on Another Stimulus Bill Next Week
Senate Majority Leader Mitch McConnell announced Tuesday that the Senate is set to vote on another stimulus bill next week.
Senate Majority Leader Mitch McConnell (R-KY) speaks to the media after a lunch with Republican Senators, on Capitol Hill in Washington, U.S.
Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi are still negotiating to seal a stimulus package before the election. The possibility of having an agreement on both chambers is still far because they disagreed on some issues.
According to a published article in the Intelligencer, the Republican Senate Majority Leader said Tuesday that his chamber is set to vote on another skinny bill that includes direct stimulus checks. It will be intended for those who are hit the hardest by the global pandemic.
The skinny bill's total amount is worth $500 billion, and McConnell clarified that it is different from the previous skinny bill he proposed. McConnell has yet to specify who qualifies for the stimulus checks or details on the income threshold.
The $500 billion skinny bill also includes unemployment benefits, funding for schools, aid for heath-care facilities, assistance for small businesses, and a course of liability shield. McConnell further noted that he is confident that President Donald Trump will be pleased with his move.
It can be recalled that Trump has always been pushing for another stimulus package. He is interested in having another round of $1,200 direct stimulus checks and wants to send it in one week's time.
The IRS also said that they are ready to release the money as soon as the bill becomes a law. It is expected that Republican Senators will likely vote for the skinny bill, and things could change by next week as the election nears.
If the Mnuchin-Pelosi negotiation does not reach a deal this week, the Democratic lawmakers who have been asking Pelosi to act on another stimulus might support McConnell's skinny bill.
McConnell decided to pass a new skinny bill after Pelosi and Mnuchin did not reach a stimulus deal. Republicans are pushing for a COVID-19 liability shield, while the Democrats want to have a robust state-and-local assistance fund.
Meanwhile, there is still a problem even if Mnuchin and Pelosi reach a deal. Republican Senators might not vote for it because the $1.8 trillion coronavirus relief aid will just add up to the country's swelling deficit.
It could have the support in Congress but not in the Senate. Congress will have another option if this happens. They could release the $130 billion unspent budget under the CARES Act and use it to send another round of stimulus checks.
The remaining money is more than enough for millions of Americans and qualified individuals who received the first round of stimulus checks.
In a recently published report in Latin Post, the Trump administration urged Congress to release the unspent budget. It was the second request of the administration since the stimulus package expired.
Trump and his administration have always been looking for ways to help millions of Americans through another stimulus package, but their offers were rejected multiple times.