Compromise is a wonderful thing! Senior lawmakers on Capitol Hill finally appear ready to deliver a stimulus package to the American people. A compromise over the Federal Reserve’s emergency lending powers was reportedly the final hurdle on the way to the finish line, and the two sides apparently came to that compromise on Saturday night.
Lawmakers on both sides have signaled optimism that the $900 billion coronavirus stimulus package could be passed by Sunday afternoon. The timing is important, as a temporary government funding extension is set to expire at midnight. The full-year spending bill is expected to be attached to the coronavirus relief package, which has fueled the extended negotiations.
The aid package is expected to include new funding for unemployment, food and rental assistance, small-business relief and vaccine distribution. A second round of stimulus checks is also expected to be included, although the amount will reportedly be lower than the $1,200 checks sent out with the original CARES Act back in March.
On Saturday, Senate Majority Leader Mitch McConnell signaled his support for getting the negotiations wrapped up, tweeting, “I appreciate the good-faith spirit that has characterized the bipartisan negotiations this past week. But the American people cannot feed their families or pay their bills with Congress’s good-faith discussions. They need us to act. We need to conclude talks and land this plane.”
If reports out of Washington are accurate, that $900 billion plane full of stimulus relief could be touching down by this evening.