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    By Tami Luhby and Katie Lobosco | CNN The $1.9 trillion coronavirus package being considered by the Senate contains a wide range of proposals to help Americans still struggling with the economic fallout of the pandemic. The legislation differs in at least three major ways from the bill that passed the House of Representatives last week. The final Senate package will have to be approved again by the House before it can be sent to President Joe Biden for his signature. Senators narrowed the eligibility for stimulus checks, trimmed the federal boost to unemployment benefits and removed a provision to increase the federal minimum wage to $15 an hour. The Senate parliamentarian ruled that the wage hike violated the strict rules of reconciliation, which is the procedure Democratic leaders are using to approve the bill in the chamber without any Republican support. The Senate bill contains many of the same...
    Reuters February 12, 2021 0 Comments U.S. President Joe Biden will meet with a bipartisan group of mayors and governors on Friday as he continues to push for approval of a $1.9 trillion coronavirus relief plan to bolster economic growth and help millions of unemployed workers. Biden and Vice President Kamala Harris will also receive an economic briefing from Treasury Secretary Janet Yellen, shortly after she takes part in the first meeting of the Group of Seven rich economies since the new U.S. administration took office. Biden’s proposed spending package, coming on top of $4 trillion enacted by his predecessor Donald Trump, will have important consequences for the global economy which is slowly recovering – but very unevenly – after last year suffering its worst downturn since the Great Depression in the 1930s. Taking part in the Oval Office meeting will be Republican and Democratic elected officials whose states...
    BALTIMORE -- The Congressional Budget Office says the federal government is on track for a $2.3 trillion deficit this year, down roughly $900 billion from last year when the coronavirus pandemic led Congress to provide historic amounts of financial aid.Stronger economic growth has helped to reduce the anticipated shortfall for this year. Still, the deficit could soon be revised upward if President Joe Biden's $1.9 trillion coronavirus relief package becomes law. The additional aid - coming after roughly $4 trillion was approved last year - would add more red ink once enacted, but isn't included in Thursday's CBO projections.Excluding the Biden plan, this year's deficit will equal 10.3% of gross domestic product, which is a measure of the total value of the economy's goods and services. The past two years have the highest deficits relative to GDP since 1945.The CBO expects the budget deficit to fall to about $1 trillion...
    WASHINGTON (Reuters) - The U.S. Senate early on Friday passed a budget plan that would allow for passage of President Joe Biden's $1.9 trillion COVID-19 relief package in coming weeks without Republican support. Vice President Kamala Harris broke a 50-50 tie by casting a vote in favor of the Democratic measure, sending it to the House of Representatives for final approval. Separate, more detailed legislation still would have to be crafted and passed to carry out Biden's coronavirus-relief bill, which also could provide more time for negotiations with Republicans. (Reporting by Richard Cowan; Editing by Toby Chopra) Copyright 2021 Thomson Reuters. Tags: diseases, infectious diseases, vaccines, public health, United States, coronavirus, education
    On Tuesday, President Joe Biden and Treasury Secretary Janet Yellen joined Democratic senators for a private virtual meeting, following their meeting on Monday with Republican lawmakers to discuss the GOP alternative to his $1.9 trillion coronavirus relief bill, as reported by the Associated Press. Biden and Yellen determined that the Republican bill and its price tag of $618 billion was too small to address the health and economic crises and called on the senators to continue their efforts to pass his legislation. With extra unemployment assistance and other pandemic aid expiring in March, the Biden administration is under pressure to secure relief as soon as possible. Democrats took advantage of their Senate majority, voting 50-49 to begin the process of approving the $1.9 trillion bill without support from Republicans. Following the meeting, Senate Majority Leader Chuck Schumer revealed that the president called on him and his Senate colleagues to act...
    President Biden and Vice President Kamala Harris are directly involved in building support for a $1.9 trillion COVID-19 recovery bill, according to White House press secretary Jen Psaki. They face a race against time to steer the ambitious funding plan through Congress before a mid-March cutoff for another round of financial assistance amid opposition from Republicans, who have balked at the high cost, and some Democrats, who believe benefits should be better targeted. In her daily briefing, Psaki said Biden and Harris had begun talking to members of Congress. “The president and vice president are engaged directly with members and have had a number of productive conversations that will continue through the course of the week and will only pick up in the days ahead,” she said. Their intervention underscores the rescue plan’s high priority for the new administration — and a realization that it already faces a tough fight...
    A group of over a dozen senators, Democrat and Republican, has expressed unease with facets of President Biden’s $1.9 trillion coronavirus relief proposal, highlighting concerns with the individual stimulus payments and reportedly telling the Biden White House the measure offers too much to higher-income earners. Sen. Joe Manchin (D-WV) reportedly set up the Sunday call between sixteen senators and Biden administration officials, which included Biden’s coronavirus coordinator, Jeff Zients, and director of the White House National Economic Council, Brian Deese. The conversation, which centered around the president’s coronavirus relief proposal, which he outlined this month, spanned over an hour as lawmakers reached a “consensus” that vaccine distribution should remain a priority. However, lawmakers also expressed concern that the proposal offers too much aid to higher-income earners. According to Politico, some of the lawmakers “balked at the stimulus payments, urging the White House to make them targeted toward those in greater need, according to...
    U.S. President-elect Joe Biden’s administration will seek quick passage of its $1.9 trillion coronavirus relief plan, Biden’s nominee for Treasury secretary said Tuesday.  Janet Yellen said at her confirmation hearing before the Senate Finance Committee that “more must be done” to provide help to struggling Americans affected by the pandemic, despite arguments from Republicans that the relief package is too large.  The U.S. budget deficit ballooned to a record $3.1 trillion last year after Congress passed various relief packages valued at $3 trillion.  “Without further action, we risk a longer, more painful recession now and long-term scarring of the economy later,” Yellen said.  Biden’s proposed relief plan would provide more aid to families and businesses, more support for coronavirus vaccine production and distribution and support for state and local governments to avoid layoffs of essential workers.  Yellen said she and the incoming president are aware of the debt problem but...
    U.S. President-elect Joe Biden unveiled a coronavirus response plan Thursday evening, emphasizing the urgency of passing legislation to help Americans through the pandemic and the economic crisis it has wrought. "During this pandemic, millions of Americans, through no fault of their own, have lost the dignity and respect that comes with a paycheck,” Biden said in an address introducing the American Rescue Plan. Biden’s plan includes a new round of direct payments of $1,400 for most Americans, funding to promote the safe opening of schools and mounting a national vaccine program. Also included is $400 a week in additional unemployment insurance, through September. Providing relief to small businesses, notably those owned by entrepreneurs of color, was also detailed in the plan. The plan, which the transition team described as “ambitious, but achievable,” is estimated to total $1.9 trillion, according to a statement released ahead of Biden’s speech. FILE -...
    President-Elect Joe Biden on Thursday introduced a $1.9 trillion coronavirus relief plan that includes $2,000 direct payments to Americans and mandates a $15 minimum wage. The plan is Biden’s first official pass at a coronavirus relief plan, adding an additional $1,400 to the existing $600 direct payments President Donald Trump signed in December. Biden introduced the plan amid upheaval in Congress over Trump’s second impeachment in the House of Representatives. Senate Majority Leader Mitch McConnell has shot down calls for a special Senate session to convict Trump prior to Biden’s inauguration. Biden himself has also said he expects Congress to be ready to deliberate on his legislation when he takes office. (RELATED: ‘An Abdication Of Responsibility’: Biden Says Trump Should Approve Coronavirus Bill ‘Now’) NEW on Biden $1.9T plan: — $2K checks (adds $1,400 to $600). Adult dependents IN — $400/week UI thru Sept, will push 4 “triggers.” Not retroactive...
    Senate Majority Leader Mitch McConnell on Sunday evening said lawmakers have reached a long-awaited coronavirus relief bill, though it will be hours before the full details are made public, Fox News has learned.  Lawmakers, meanwhile, passed a one-day stopgap spending bill to prevent a government shutdown at midnight Sunday.  After days of negotiations, McConnell said he was "relieved" that a deal was in the offing. The House and Senate were expected to vote on the legislation on Monday. Before hitting the full House for a vote, the relief bill first must go through the House Rules Committee, though it remains unclear when that will be. FAST FACTS House Democrats had passed a massive $3 trillion HEROES Act that Senate Republicans rejected in favor of a more targeted approach The plan was to load the $900 billion coronavirus bill onto a $1.4 trillion omnibus spending plan to fund the government through the end of next September According to congressional...
    Senate Majority Leader Mitch McConnell on Sunday evening said lawmakers have reached a long-awaited coronavirus relief bill, though it will be hours before the full details are made public, Fox News has learned.  Lawmakers, meanwhile, passed a one-day stopgap spending bill to prevent a government shutdown at midnight Sunday.  After days of negotiations, McConnell said he was "relieved" that a deal was in the offing. The House and Senate were expected to vote on the legislation on Monday. Before hitting the full House for a vote, the relief bill first must go through the House Rules Committee, though it remains unclear when that will be. FAST FACTS House Democrats had passed a massive $3 trillion HEROES Act that Senate Republicans rejected in favor of a more targeted approach The plan was to load the $900 billion coronavirus bill onto a $1.4 trillion omnibus spending plan to fund the government through the end of next September According to congressional...
    WASHINGTON - U.S. House Speaker Nancy Pelosi on Sunday said that an agreement with the Trump administration on a new coronavirus relief package would have to be reached within the next 48 hours or it won’t get done before the national presidential election on Nov. 3. Pelosi has engaged in weeks of talks with Treasury Secretary Steven Mnuchin, representing President Donald Trump, but the two officials have been unable to reach a deal even as the number of coronavirus cases is surging again in the U.S. and the economic recovery has slowed. Pelosi and Mnuchin are negotiating on a package that could cost between $1.8 trillion and $2.2 trillion but have not agreed on specific terms of a national strategic testing plan, among other issues. Even if they do reach an accord, some Republican senators say they are opposed to spending such a sum in addition to the $3...
    Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York City BY TIM AHMANN U.S. House Speaker Nancy Pelosi said on Tuesday she hoped to have a coronavirus aid deal with the White House this week, after speaking with Treasury Secretary Steve Mnuchin for about 50 minutes and making plans for further talks on Wednesday. “I’m hopeful,” Pelosi told reporters who asked whether agreement on additional coronavirus relief could be reached this week. Her discussion with Mnuchin on Tuesday was their third conversation in as many days. “The two went over the provisions of the updated Heroes Act and agreed to speak again tomorrow,” Pelosi spokesman Drew Hammill said on Twitter, referring to a $2.2 trillion measure unveiled on Monday by House Democrats. Pelosi has taken the lead for Democrats in trying to reach a compromise with the Trump administration on a...
    White House trade adviser Peter Navarro blamed House Speaker Nancy Pelosi, D-Calif., for the stalled negotiations on the next round of coronavirus relief, calling her “the obstacle.” “I think she is gambling that if the economy is bad, President Trump loses and she gains power,” Navarro told “America’s Newsroom” on Thursday. “And that kind of calculus, if there is any truth to that at all, that has no place in this great country.” Pelosi and Senate Minority Leader Chuck Schumer, D-N.Y., have attempted to convince Republicans to meet them in the middle of the Democrats' more than $3 trillion proposal and the Republicans' opening $1 trillion offer – at just over $2 trillion – but the idea has been a nonstarter with Republicans, who have indicated they have little interest in passing another multitrillion-dollar spending bill after passing the $2.2 trillion CARES Act earlier this year. “Nancy Pelosi is the problem here,” Navarro said, adding that there are “a lot of people...
    President Donald Trump urged his fellow Republicans Wednesday to go for "much higher numbers" in a coronavirus aid bill, as Washington remained deadlocked over economic relief from the crisis ahead of the Nov. 3 elections. Senate Republican reaction to Trumps appeal was mixed, but generally cautious. But House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer said in a joint statement they were encouraged and hoped White House negotiators would now "meet us halfway." The standoff dates to mid-May, when the Democratic-majority House approved $3.4 trillion in new coronavirus aid, including unemployment benefits, money for schools, the U.S. Postal Service, and testing. Pelosi meanwhile offered to drop the demand to about $2.2 trillion. The Senates Republican leaders countered with a $1 trillion plan, but some of their own members balked at that. Last week they put a $300 billion bill up for a vote that Democrats blocked as insufficient....
    The House Problem Solvers Caucus will present a $1.5 trillion coronavirus relief plan Tuesday in an effort to break the months-long congressional stalemate before the November election. The proposal, crafted by the group of approximately 50 centrist lawmakers, faces unfavorable odds in a fight that has been dominated by partisan divisions over what a relief package should include, The New York Times reported. However despite the plan’s slim chance at being signed into law, its public presentation reflects growing frustration from moderate members of both parties over Congress’s failure to pass any supplemental relief, according to the Times. The proposed bill would revive the Paycheck Protection Program and reissue $1200 checks to qualifying American taxpayers, measures that have bipartisan support, and also offers legal protections for workers and their employers. After talks stalled, a bipartisan House group (Problem Solvers Caucus) now has its own stimulus plan to spend between $1.3T-$2T....
    A bipartisan group of House lawmakers Tuesday unveiled a compromise coronavirus package that worked out some of the thorniest divisions between Democrats and Republicans in an effort to jumpstart relief to Americans still reeling from the health and economic crisis. The Problem Solvers Caucus released its $1.5 trillion coronavirus plan as proof bipartisanship is still afoot and to deliver a pre-packaged solution to Republican and Democratic leadership that would meet the nation's most pressing needs for the next 6 to 12 months. There's been no progress on a new coronavirus package in the last four months although schools, families, and businesses continue to suffer and the coronavirus continues its deadly spread, now killing more than 193,000 Americans. SENATE FAILS TO ADVANCE 'TARGETED' $300B CORONAVIRUS BILL; RELIEF IN LIMBO So the 50-member caucus -- equally divided between Democrats and Republicans -- spent six weeks trying to find a solution they believe can pass the House, Senate and...
    Senate Minority Leader Chuck Schumer sent a letter to his caucus Thursday morning warning that Republicans' coronavirus plan is "emaciated" and accused the GOP of trying to "check the box" on another stimulus bill, statements that appear to throw water on attempts to revive negotiations that fell apart last month. After lawmakers failed to pass legislation ahead of the August recess, there was hope that there could be some sort of breakthrough in negotiations once they returned to Washington, D.C. But Schumer, D-N.Y., in the letter to his Democratic colleagues slammed comments by Senate Majority Leader Mitch McConnell, R-Ky., about a potential "skinny" coronavirus proposal which would cost about $1 trillion. Schumer and Democrats started their negotiations at the $3 trillion price tag of the bill House Democrats passed earlier this year, but later said they would be willing to come down to $2 trillion, something Republicans including McConnell and White House...
    Reuters July 28, 2020 0 Comments Republicans in the U.S. Senate pushed back on Tuesday against their own party’s $1 trillion coronavirus relief proposal the day after it was unveiled by Majority Leader Mitch McConnell, sending some U.S. stocks downward. McConnell and the chamber’s top Republicans unveiled the coronavirus aid package hammered out with the White House just four days before the expiration of expanded unemployment benefits keeping millions of Americans afloat during the crisis. The proposal would slash the federal benefit from $600 per week in addition to state unemployment, to $200. Democrats have also rejected the package, calling it too small compared with their $3 trillion plan that passed the House of Representatives in May. Dissident Republicans criticized its expense. McConnell touted the proposal as a “tailored and targeted” plan to reopen schools and businesses, while protecting companies from lawsuits. Some U.S. stocks dropped as investors worried...
    Republicans' $1 trillion coronavirus relief package was in trouble Tuesday as the party began to lose support for the measure from its own members while Democrats decried a billion dollar provision to build a new FBI building near President Donald Trump's Washington D.C. hotel. Republican Senator Ted Cruz of Texas said he expects 'significant resistance' from Republicans to the legislation, citing its hefty price tag. 'There is significant resistance to yet another trillion dollars. The answer to these challenges will not simply be shoveling cash out of Washington, the answer to these challenges will be getting people back to work. And as it stands now, I think it's likely that you'll see a number of Republicans in opposition to this bill and expressing serious concerns,' he told reporters on Capitol Hill. Republican Senator Ted Cruz of Texas said he expects 'significant resistance' from Republicans to the coronavirus relief legislation, citing its...
    Treasury Secretary Steven Mnuchin, delivers remarks on the coronavirus relief package after the Senate Republican Policy luncheon in Russell Building on Tuesday, March 17, 2020.Tom Williams | CQ Roll Call | Getty Images Treasury Secretary Steven Mnuchin on Sunday said Republicans have finalized their latest piece of coronavirus relief legislation, worth about $1 trillion, and intend to introduce it Monday.  "We do have an entire plan," Mnuchin said on "Fox News Sunday."  "The [Trump] administration and the Senate republicans are completely on the same page," he added.  Mnuchin said he hopes Congress can work in a bipartisan manner to approve the Republican proposal, which is expected to have another round of $1,200 stimulus checks for Americans and liability protections for businesses and schools. It also will modify the federal unemployment insurance supplement to include about 70% wage replacement for individuals, he said, instead of the $600 weekly payment for all recipients. That benefit, which...
    Republicans are at odds with each other over the ever-increasing cost of battling the coronavirus. Senate Republican leaders were forced to slow down a coronavirus aid package thanks to an internal dispute over how much more the federal government should spend. The latest package assists individuals, families, businesses, governments, and healthcare facilities in battling the virus, which has surged in at least a dozen hot spots across the country. While some Republicans agree with Democrats that Congress should pass another round of aid, other GOP lawmakers want to wait to see the full impact of the nearly $3 trillion already passed into law. Others are balking at provisions to spend hundreds of billions of dollars to bail out states and bolster unemployment insurance payments. "I don't think we should be authorizing a dime more until we know exactly where the $2.9 trillion went and how we are...
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