New Coronavirus Relief Bill Unlikely to Pass through Senate
Written by LILAC member Sarah Ninan
A new COVID-19 relief bill is in the process of being passed through Congress, in light of the 12 million unemployed Americans who are struggling through the pandemic without a steady paycheck.
This bill is a revised version of the Hero's Act, which passed back in May. Compared to the previous bill, the current one is 1.2 trillion dollars cheaper, and would provide an additional $600 per week on top of unemployment benefits, deliver another round of direct payments and provide funding for schools and state and local jurisdiction, according to Houseparty Speaker Nancy Pelosi.
Although the House has already approved this bill, the Senate is having trouble reaching a bipartisan agreement in order to get it passed. Republican senators, including Senate Majority Leader Mitch McConnell, refuse to go over a 2 trillion dollar budget. The House Problem Solvers Caucus introduced a bill that would cost around $2 trillion, and Treasury Secretary Steven Mnuchin said that his $1.6 trillion counteroffer to Pelosi would be similar to that framework.
Yet, President Trump shocked both parties, and his own administration, when he recently demanded a new bill that would cost more than the all the previously proposed bills. This Friday he claimed to approve a “revised” stimulus package, though he declined to provide details.
Considering the previous bills were much more cost efficient, many are wondering how the US would be able to afford this new one with the hit that our economy took in the pandemic. But, as more details come in, if this bill is worth the cost, hundreds of struggling Americans might be able to once again afford their basic necessities.