Speaker of the House Nancy Pelosi delayed the passage of the Senate’s coronavirus relief package on Wednesday, as the House was in session for nearly three minutes and then adjourned until Thursday.
“House Democrats will now review the final provisions and legislative text of the agreement to determine a course of action,” Pelosi said about the nearly $2 trillion emergency relief deal which will be voted on Wednesday afternoon in the Senate after a long night of negotiations. Meaning, the House will not be able to vote on the package for another day. Pelosi also said there is “no way” to pass the bill through the House on Wednesday.
House will not pass coronavirus bill today. Already gaveled in, gaveled out of pro fotm session. Senior sources say House won’t meet again later today
— Chad Pergram (@ChadPergram) March 25, 2020
McConnell said the deal “will get more equipment to the heroes on the front lines” and that “this is a wartime level of investment.” The Majority Leader also added that “this has been a long week for the Senate,” and that the Senate is “going to pass this legislation later today.”
The revamped Senate proposal will inject approximately $2 trillion into the economy, providing tax rebates, four months expanded unemployment benefits and a slew of business tax-relief provisions aimed at shoring up individual, family and business finances.
The deal includes $500 billion for a major corporate liquidity program through the Federal Reserve, $377 billion in small business aid, $100 billion for hospitals and $150 billion for state and local governments.
It will also give a one-time check of $1,200 to Americans who make up to $75,000. Individuals with no or little tax liability would receive the same amount, unlike the initial GOP proposal that would have given them a minimum of $600.
Overnight, Treasury Secretary Steve Mnuchin told reporters that President Donald Trump would "absolutely" sign it if Congress passes it.
Trump praised the legislation at the White House coronavirus briefing Wednesday night.
“I encourage the House to pass this vital legislation and send the bill to my desk for a signature without delay. I will sign it immediately,” Trump said.
