$600 stimulus checks will be part of new COVID relief package. Here’s what we know

Congressional leaders are close to cinching a $900 billion coronavirus relief package that would include direct payments for many Americans.

The package is primarily based on the $748 billion bill introduced by a bipartisan group of lawmakers on Monday and will include $600 stimulus checks — lower than the $1,200 payments per adult included in the CARES Act passed in March. The package will also leave out $160 billion in funding for state and local aid as well as liability protections for businesses, components that have emerged as points of contention among lawmakers.

Congressional leaders announced the agreement Sunday evening, with Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer later speaking from the Senate floor. A final vote was expected late Sunday or early Monday.

“Moments ago, the four leaders of the Senate and the House finalized an agreement. It will be another major rescue package for the American people,” McConnell said, according to ABC News. “For the information of all senators and more importantly for the American people, we can finally report what our nation has needed to hear for a very long time: ‘more help is on the way’.”

Schumer confirmed the agreement includes $600 checks to adults and dependents in each household. It also provides $300 per week in extended unemployment benefits for 10 weeks, and $25 billion in rental assistance with a temporary moratorium on evictions, Schumer said.

The deal includes $12 billion for minority-owned and small businesses, and money for bars, restaurants, music venues and theaters, Schumer said Sunday.

But, he said, it does not include direct state or local assistance.

The deal has been in the works for days. After negotiations on Tuesday evening, Congressional leaders said they were closing in on a deal, The Hill reported.

“We made major headway toward hammering out a targeted pandemic relief package that would be able to pass both chambers with bipartisan majorities,” McConnell, a Kentucky Republican, said on the Senate floor Wednesday, according to the publication.

“We committed to continuing these urgent discussions until we have an agreement and we agreed we will not leave town until we’ve made law,” he continued. “The American people need more help, it’s that simple. Further targeted relief is now months overdue.”

A final version of the bill was not available Sunday evening, but the $748 billion bill as it was introduced Monday included:

• $300 in weekly unemployment insurance for four months
• $300 billion in aid for small businesses, including Paycheck Protection Program loans
• $25 billion in emergency rental assistance
• A federal eviction moratorium through January 2021
• Deferred federal student loan payments through Apr. 1, 2021.
• $13 billion in food aid
• $12 billion in aid to low-income and minority communities
• $82 billion for education
• $16 billion for vaccine distribution and development, testing and contact tracing
• $10 billion in funding for child care providers.
  
  

This story was originally published December 20, 2020 at 6:26 PM with the headline "$600 stimulus checks will be part of new COVID relief package. Here’s what we know."