Republicans and Democrats reach an agreement in principle to approve a stimulus package for the economy

Republicans and Democrats have reached an agreement in principle overnight for the approval of a stimulus package for the economy that alleviates the effects of the pandemic and prevents the closure of the Government.

Finally, the stimulus package will have a total value of 900,000 million dollars (734,260 million euros).

The Republican senator from Pennsylvania, Patrick Toomey, has finally been the one who has agreed to support the project, but the legal text has yet to be fully agreed, according to ‘The New York Times’.

The main stumbling block this time around was whether the Federal Reserve and the Treasury Department could establish emergency loan programs to allow credit to continue to flow to businesses and municipal governments, as they could in the early stages of the pandemic.

While the Republicans considered that maintaining it meant giving too much power to the future Biden administration, the Democrats accused the Republicans of wanting to leave the new government without a response to an emergency.

After modifying some aspects of the Toomey amendment, the leader of the Democrats in the Senate, Chuck Schumar has said that the total agreement is “very close” and is expected to be voted in the House of Representatives and the Senate this Sunday.

Previously, the negotiation had stalled on multiple aspects from the total size of the stimulus package to the amount of individual checks for the most vulnerable, unleashing a scene as unusual as seeing progressive Senator Bernie Sanders and Senator defend an amendment together. Republican Josh Hawley, one of the party’s potential candidates for the 2024 presidential election.

The agreed text will finally grant benefits for the unemployed of 300 dollars per week (about 244 euros), direct payments of 600 dollars (489 euros), 330,000 million (269,229 million euros) in loans to small companies, 80,000 million (65,267 million of euros) to schools and an unspecified amount for the distribution of vaccines.

Apart from this plan, the Government’s fiscal spending project for 2021 must also be approved.

Leave a Reply





Honorable Miguel Ángel Cotto is honored in the south of Puerto Rico

Managers of the World Boxing Organization (WBO) and a large group of Puerto Rican boxers, as well as the mayor of the autonomous municipality...

Rainy winters do not arrive to reduce fire risk in California

 Los Angeles, .- The rainy winters no longer mean a decrease in the risk of the dangerous forest fires that in the last years...

Biden to deliver his first speech as US president to the UN General Assembly next week

The president of the United States, Joe Biden, will deliver his first speech before the United Nations General Assembly on September 21 in New...

Volunteer Mission of Florida travels to Guatemala with 1,500 gas masks

The Global Empowerment Mission (GEM) organization, formed by volunteers and dedicated to help in case of natural disasters, today sent to Guatemala a first...

A thousand migrants receive false notices to go to immigration court

 Los Angeles At least a thousand migrants received notice of appearance (NTA, for its acronym in English) to appear today in front of an...
%d bloggers like this: