6/10/2023 0 Comments New stimulus billThe Senate vote on Saturday cleared a serious hurdle for the legislation and means that the long-awaited stimulus could soon be approved. The House is slated to take up the Senate version of the bill shortly and send it to President Joe Biden for his signature. On unemployment insurance, too, lawmakers have reduced the enhanced weekly payment from $400 to $300, and made up to $10,200 of the aid people receive non-taxable for those with household incomes of $150,000 or less. Joe Manchin (D-WV) had pushed for a more targeted bill. Those checks were previously phased out at the $100,000 threshold for single individuals and $200,000 for couples, and the cutoffs are now $80,000 and $160,000, because Sen. In the Senate’s final version of the bill, many provisions are consistent with what the House proposed, while other measures have been changed: The overwhelming majority of Americans will still receive the $1,400 stimulus checks, for example, but a slightly smaller number now. This legislation includes funds aimed at addressing these needs, as well as tens of billions to help with vaccine distribution, more than $170 billion to boost schools, and $350 billion in direct state and local aid. The relief bill, once it comes to fruition, will include a massive boost for businesses and workers still reeling from the ongoing fallout of the pandemic: As of February, 18 million people were still receiving unemployment insurance and nearly 100,000 businesses had permanently shut down. This step is significant and follows intense back-and-forth in the upper chamber over multiple provisions, including some - like the $15 minimum wage - that were stripped out for procedural reasons, and others, like unemployment insurance, that have been changed in response to pressure from moderate Democrats. Dan Sullivan (R-AK) not voting due to a family funeral, now heads back to the House, where a vote is expected as early as Tuesday. The legislation, which passed 50-49 on a purely party-line vote, with Sen. The Senate - following a grueling vote-a-rama on Friday and Saturday - has finally approved a $1.9 trillion Covid-19 relief bill, bringing it one step closer to becoming law.
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