President Joe Biden's $1.9 trillion COVID-19 relief package should receive a vote in the House by Friday. Following that, it will head to the Senate. Through the budget reconciliation process, Democrats could send the bill to the president's desk with 50 votes and Vice President Kamala Harris serving as the tiebreaker.
COVID-19 Relief Bill Set to Be Voted on Friday
A test of universal basic income (UBI) has come in the US. This is a direct aftermath of the pandemic-related executive actions and relief bills of Washington, DC.
According to new polling data, President Joe Biden's proposed stimulus check of $1,400 is bolstering Republican support for his economic relief package. A Wednesday Yahoo survey sampled 1,556 US adults between February 20-22. It displayed 77 percent of respondents were in favor of transferring $1,400 COVID-19 relief checks, including 89 percent of people who identified as Democrat and 61 percent of people who identified as Republican, reported Newsweek.
The House of Representatives is slated to vote on Friday on Biden's $1.9 trillion coronavirus relief plan that includes a third series of stimulus checks. Most probable to pass the Democrat-controlled House, the measure will then head to the Senate. The parties will be split 50-50 with Vice President Kamala Harris responsible for the tie-breaking vote, reported AL.
This will possibly pave the way for a third stimulus check in mid-March. The package, named the American Rescue Plan, involves a major extension to the additional unemployment benefits provision and greater financial support for small businesses. However, for many, it is the $1,400 stimulus checks that will be of the most value for the short-term.
On Monday, the budget committee held the first major vote for the 591-page package. This is simultaneous with Democrats continuing to argue on issues including raising the minimum wage and how much aid to funnel to grappling state and local governments. The measure passed the panel on a largely party-line vote of 19-16, reported Fox 8.
The receiving of the stimulus checks as a measure will make its way to the full House and then over to the Senate. The current plan maintains income thresholds at the identical mark for the $600 payments.
The voting on Friday is just one step in a lengthy process. The bill would then be required to go to the Senate for amendments. The possible result of the third stimulus check looks much different than the first two stimulus checks. The Internal Revenue Service (IRS) will use a formula that determines the amount your household will receive -- with the payment amounting to $1,400 per eligible adult and dependent.
Tens of millions of Americans could expect a third stimulus check prior to the conclusion of March. The details are still being ironed out, with eligibility requirements being different than those of last year's initial two payments.
The "American Rescue Plan" would send financial assistance to stabilize the economy as the public health effort seeks the upper hand on the pandemic. The bill would also include producing billions of dollars for financial assistance to state and local governments. This also includes additional aid to businesses impacted by the pandemic.