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    New York : In Congress they seek to sign the new stimulus bill into law before March 14. Photo: Samuel Corum / . The first major vote in Congress on the $ 1.9 trillion COVID-19 stimulus package will take place this Friday. If the bill passes, the due date of the new $ 1,400 stimulus check would seem closer. Democrats are aiming to sign the bill by March 14, which will kickstart the schedule for the third stimulus check. But the 2020 tax season could complicate things for the Internal Revenue Service (IRS), as well as the pay group you find yourself in. Also, some people, such as SSDI and SSI recipients, may receive their funds in a different way. As if this were not enough, in case you have an additional problem with your stimulus check, you could wait a few more months. The...
    WASHINGTON (AP) — The Treasury Department said Monday that it plans to borrow $274 billion in the current January-March quarter, down 54.1% from the prior three-month period. But officials concede that figure could rise significantly depending on what type of new coronavirus relief package is approved by Congress Treasury’s projected borrowing figure for this quarter is down from the $597 billion in actual borrowing it did during the October-December quarter. The government ran up a record $3.1 trillion deficit for the 2020 budget year that ended Sept. 30. The government’s finances were strained by trillions of dollars spent to support an economy that went into a freefall in the spring when a global pandemic hit, pushing millions of people out of work. After months of debate, Congress finally passed a $900 billion support package in late December. President Joe Biden is now pushing Congress to approve a new $1.9 trillion...
    President Biden's $1.9 trillion coronavirus aid proposal may end up less costly and more narrow after a bipartisan makeover some House and Senate lawmakers hope to achieve. A bipartisan group of senators has planned to meet with officials from the Biden administration in the coming days to discuss the president's proposal, which includes a provision to lift the minimum wage to $15. The Biden plan would also provide $1,400 stimulus checks (bringing the total aid for individuals to $2,000) at the cost of $1 trillion, in addition to $440 billion for state and local aid and $400 billion to fight the virus. Congress has already passed nearly $4 trillion in coronavirus relief since the pandemic started last year, including $900 billion last month. "Just show me why the $1.9 [trillion] is needed right now when it's going to be needed and what we didn't get out the door before...
    A bipartisan group of lawmakers wants to craft a narrow coronavirus aid package that can pass quickly, and some will meet as soon as this weekend with officials from the Biden administration. Sen. Joe Manchin, a West Virginia Democrat, told reporters Wednesday a bipartisan group of lawmakers will meet with Biden administration officials “probably” this weekend to discuss a new aid package. Manchin did not say whether he or other Democratic lawmakers would push for a more targeted measure, but there is a bipartisan push for something that stands an easier chance of clearing Congress quickly. A Manchin spokesman said the bipartisan caucus "hasn’t issued anything about the Biden plan." President Biden plans to send Congress a $1.9 trillion coronavirus aid spending request that includes an additional round of stimulus checks worth $1,400. Biden’s bill would also lift the minimum wage to $15 per hour. The steep...
    US President Donald Trump speaks on lowering prescription drug prices on November 20, 2020, in the Brady Briefing Room of the White House in Washington, DC.Mandel Ngan | AFP | Getty Images President Donald Trump's last-second opposition to a coronavirus relief and federal funding bill already passed by Congress threatens to torch jobless benefits for millions of Americans and shut down the government during a deadly public health crisis. After weeks of no involvement in congressional efforts to pass another aid package, the outgoing president shocked Washington on Tuesday night by calling the bill a "disgrace" and pushing lawmakers to increase $600 direct payments to $2,000. While he did not explicitly say whether he would veto the bill or simply refuse to sign it, Trump said the "next administration will have to deliver a Covid relief package" if Congress does not send him revised legislation. Any delay in the...
    Senate Majority Leader Mitch McConnell, R-Ky., praised the coronavirus stimulus bill that's poised to pass Congress Monday after months of stalled negotiations, but added that Democrats could have had the same deal months ago had they not prioritized damaging President Trump's reelection hopes. "It's not too little, too late," McConnell told "The Daily Briefing." "It's directly targeted at exactly what the country needs right now. If, after the new [Biden] administration comes in, they want to advocate more, we'll take a look at it, based on conditions in the country at that time." Congressional leaders agreed Sunday on a $900 billion coronavirus package that provides direct payments to most Americans, targeted relief for small businesses, funding for vaccinations, and expanded unemployment benefits. Combined with a $1.4 trillion ominbus bill to fund the government through September, lawmakers will vote on roughly $2.3 trillion in new spending. It is expected to pass, and Trump has signaled he will immediately...
    Lawmakers in Washington, D.C., are inching toward a deal over additional coronavirus relief, including direct cash payments to millions of Americans. They will continue to negotiate this weekend.  A $908 billion bipartisan proposal initially left out so-called stimulus checks, focusing instead on providing jobless workers with an additional $300 in weekly unemployment aid. But a last-minute addition to the package could include another round of payments of $600 for individuals, according to analysts with investment bank Raymond James. That's half of the $1,200 payments distributed to about 160 million Americans under the $2 trillion Coronavirus Aid, Relief and Economic Security, or CARES, Act this spring. Some senators, including Bernie Sanders of Vermont, have insisted that any new relief bill include another round of checks worth $1,200 for low- and middle-income Americans. Sanders, who is joined by Josh Hawley, a Republican senator from Missouri, pledged to force a vote on the...
    This article was originally published on Dec 17 at 9:34pm EST by THE CITY The city’s economic rebound has stalled with looming new pandemic-spurred restrictions threatening to cost tens of thousands of jobs and the need for help — especially emergency food aid — growing. The federal aid package being negotiated in Washington will offer a modest boost, say economists and those on the front lines of pandemic relief — but will likely less be than half of the $2.2 trillion CARES package passed in the spring.
    s Washington lawmakers have worked to come to an agreement on the next coronavirus relief package for months. Post-election, those talks could get shaken up by new developments on Capitol Hill. That includes the election of Democratic candidate Joe Biden to the Oval Office. But it will likely also be shaped by shifting power in the Senate and the near-term prospects for a Covid-19 vaccine. Those factors could influence how much aid is sent out and when. More from Personal Finance:What Biden's student loan forgiveness plan would mean for borrowers Why wealthy families hoping to save on taxes are in a holding patternHow Biden's platform calls for big changes to Social Security The federal government has not authorized a large stimulus package since the $2.2 trillion CARES Act was passed in March. Without an update, certain types of aid related to unemployment benefits and renters' protections will expire at the...
    Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York City BY HOWARD SCHNEIDER AND MEGAN DAVIES The White House’s sudden exit from fiscal stimulus talks with Democrats in Congress has added another level of doubt to a U.S. economic recovery that already seemed to be weakening, choking off perhaps $1.5 trillion or more in future income and spending. Even the most bullish policymakers and forecasters had penciled in more government aid to keep households and businesses hit by the coronavirus pandemic afloat through the end of the year. That money would bolster retail spending, rent payments and mortgages and whittle away at the 11 million lost jobs that have not yet been recouped. Without it, the United States faces another roughly 5% hole in annual economic output. Still, those assumptions evaporated on Tuesday after President Donald Trump announced his administration was...
    NANCY Pelosi signaled on Sunday that stimulus checks are still possible this year as House Democrats work to push a new, smaller aid package. Pelosi, facing pressure from moderate Democrats, said another aid package with stimulus checks is still possible as the House Speaker works to push forward a $2.4 trillion package -- $1 trillion less than their original proposal. 1You could still get your stimulus checks this yearCredit: Getty Images - Getty Speaking with CNN’s Jake Tapper, Pelosi said that she believes a solution for the aid package can be reached amid her “good faith” conversations with Treasury Secretary Steve Mnuchin. “When I have a conversation with the Administration, it is in good faith.  I trust Secretary Mnuchin to represent something that can reach a solution and I believe we can come to an agreement,” Pelosi said. Earlier this month, Mnuchin indicated that the administration would not approve...
    Tom Brenner | Reuters A legislative stalemate in Washington is preventing Congress from getting more financial relief to millions of Americans who are facing financial hardship. Despite that impasse, there are actually a handful of stimulus initiatives that leaders on both sides of the aisle agree on. They just have not been combined into one package or put forward as individual proposals, according to Ed Mills, Washington policy analyst at Raymond James. The reason can be summed up with one word: politics, Mills said. However, those hoping for another aid package should not necessarily give up all hope. "The most optimistic thing I can say is that, in D.C., things are impossible right up until the moment it's inevitable," Mills said. More from Your Money Mindset:What to know about buying life insurance amid pandemicCollege kids worry about finances amid ongoing pandemicExperts warn against using stimulus money for vacations "We have...
    Reuters August 26, 2020 0 Comments  President Donald Trump is weighing executive action to avoid massive layoffs at U.S. airlines if Congress fails to agree a fresh coronavirus stimulus package, White House Chief of Staff Mark Meadows said on Wednesday. His remarks came a day after American Airlines said its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October without an extension of government aid. “If Congress is not going to work, this president is going to get to work and solve some problems. So hopefully, we can help out the airlines and keep some of those employees from being furloughed,” Meadows said in an interview with Politico. He seemed to suggest, however, that legislative action would be needed, telling Politico: “It would take a CARES package, I believe, to do it,” referring to the $3 trillion coronavirus relief package that Congress passed earlier this year. Airline...
    WASHINGTON – The price tag for the next COVID-19 aid package could quickly swell above $1 trillion as White House officials negotiate with Congress over money to reopen schools, prop up small businesses, boost virus testing and keep cash flowing to Americans while the virus crisis deepens. Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200 checks sent in the spring. President Donald Trump insists on a payroll tax holiday for workers. And Democrats want billions to outfit schools and shore up local governments. “Regretfully, this is not over,” McConnell said after a raucous private GOP lunch, urging Americans to learn to live with the virus by wearing masks and practicing social distancing until a vaccine is found. Treasury Secretary Steven Mnuchin and acting chief of staff Mark Meadows spent the day on Capitol...
    By LISA MASCARO, AP Congressional Correspondent WASHINGTON (AP) — The price tag for the next COVID-19 aid package could quickly swell above $1 trillion as White House officials negotiate with Congress over money to reopen schools, prop up small businesses, boost virus testing and keep cash flowing to Americans while the virus crisis deepens in the U.S. Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200 checks sent in the spring. President Donald Trump insists on a payroll tax holiday for workers. And Democrats want billions to outfit schools and shore up local governments. “Regretfully, this is not over,” McConnell said after a raucous private GOP lunch, urging Americans to learn to live with the new virus by wearing masks and practicing social distancing until a vaccine can be found. Treasury Secretary Steven Mnuchin...
    The price tag for the next COVID-19 aid package could quickly swell above $1 trillion as White House officials negotiate with Congress over money to reopen schools, prop up small businesses, boost virus testing and keep cash flowing to Americans while the virus crisis deepens in the U.S. Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200 checks sent in the spring. President Donald Trump insists on a payroll tax holiday for workers. And Democrats want billions to outfit schools and shore up local governments. “Regretfully, this is not over,” McConnell said, urging Americans to learn to live with the new virus by wearing masks and practicing social distancing until a vaccine can be found. Treasury Secretary Mnuchin and acting chief of staff Mark Meadows spent the day on Capitol Hill, meeting separately with...
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