A long-delayed COVID-19 economic relief package has worked through a handful of remaining holdups as congressional representatives continue to negotiate, according to a story from the Associated Press. The final agreement for more help to businesses and the unemployed and new stimulus payments to most Americans has yet to be finalized.
Central to the package is more than $300 billion in aid to businesses; a $300-per-week bonus federal jobless benefit and renewal of soon-to-expire state benefits; $600 direct payments to individuals; vaccine distribution funds and money for renters, schools, the Postal Service, and people needing food aid. However, debates over Federal Reserve powers, state and local government matching requirements for disaster grants, and smaller disagreements over nonpandemic add-ons have slowed progress.
President-elect Joe Biden is eager for an aid package to prop up the economy and deliver direct aid to the jobless and hungry, even though the package may fall short of what Democrats want. At the moment, the value of the package under consideration is $900 billion.
