The proposed $ 2.4 trillion stimulus package with second direct payments to Americans.

2 months ago

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In the United States, a new stimulus package is being prepared, costing around $ 2.4 trillion and including a second round of stimulus controls for Americans. Since the first stimulus package for the coronavirus was enacted, talks about more emergency aid have stalled. This new proposal aims to restart the debate on the stimulus package.

Nancy Pelosi plans to introduce a $ 2.4 billion stimulus package.

It appears that House Democrats are preparing a new coronavirus stimulus plan that would cost about $ 2.4 trillion, which is about $ 1 trillion less than their previous proposal. CNBC described Saturday:

"The bill will include increased unemployment insurance, direct payments to Americans, loan financing for small businesses in the Wage Protection Program, and aid to airlines, among other provisions."

Since the $ 2.2 trillion stimulus package was signed into law, U.S. lawmakers have discussed another stimulus aid package, but Democrats and Republicans have failed to reach an agreement on what is needed. . to combat the economic crisis caused by the coronavirus.

In May, the House passed the $ 3.4 trillion HEROES Act, but negotiations on the bill ended in the Senate, with both sides blaming each other. Senate Majority Leader Mitch McConnell (R-Ky.) Has accused House Speaker Nancy Pelosi of using the current economic difficulties to put pressure on Trump and Senate Republicans in a deal, Politico reported. However, Senate Minority Leader Chuck Schumer (D-N.Y.) Has argued that the White House and top Senate Republicans are the ones who refuse to negotiate because the package costs more than the Trump administration was willing to accept.

Pelosi is expected to introduce the $ 2.4 trillion package to resume negotiations with the White House. The bill could be voted on immediately after next week, but lawmakers are also considering the upcoming US presidential election in November if they want more help now and how to structure it.

Domestic minority leader Kevin McCarthy (R-CA) criticized Pelosi's $ 2.4 trillion bills, saying it "shows again that it is not seriously linked to an aid bill." ". from COVID, that he only plays politics."

Treasury Secretary Steven Mnuchin said he and Pelosi had agreed to resume stimulus talks. "I have probably talked to Pelosi 15 or 20 times in the last few days about coronavirus amelioration and we have agreed to continue discussions on the CARES law," Mnuchin said at a Senate banking committee meeting. , Thursday. Moreover, a bipartisan group of 50 lawmakers last week launched a framework of stimulus packages calling for a $ 1.5 trillion exemption.

Federal Reserve Chairman Jerome Powell and a number of economists have warned that the US economy could be affected without further fiscal incentives. Last month, the Federal Reserve announced a change in its inflation policy and has since pledged to keep interest rates close to zero for several years.

Editor's note (September 27, 2020, 18:34 EDT): This article has been updated with more details about the Law of HEROES.

Editor's note (September 28, 2020, 8:52 PM EDT): House Democrats on Monday introduced a $ 2.2 trillion aid bill for Covid-19, lower than the previous estimate of $ 2.4 trillion.

@saleh9 & @shajj

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