Why isn’t there a new stimulus bill yet? Here’s what’s gumming up the works


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With COVID-19 cases and weekly unemployment numbers growing, many individuals and families will face increasing pressure through the end of 2020 to make ends meet. And without Congress renewing a handful of economic supports this year that provide additional unemployment aid and protection from evictions, the incoming president, Joe Biden, will face a growing economic crisis as he takes office in January.

But despite calls from both Democratic and Republican leaders for more federal economic assistance, with just a handful of weeks left till 2021, lawmakers continue to spend more time talking about the need for additional aid than sitting down and working out another economic relief package.

“We are asking [Senate Majority Leader Mitch McConnell] to come back to the table,” House Speaker Nancy Pelosi said Nov. 20, “to meet the needs of the American people.” In addition to a second stimulus check, the next bill could renew federal programs designed to support individuals and small businesses.

 McConnell also urged legislators to pass more federal aid before the end of the year. “American workers should not lose their jobs needlessly when a second round of the job-saving Paycheck Protection Program for the hardest-hit small businesses would make a huge difference,” he said on Nov. 20. “Our medical system should not be denied additional support, including for distributing the life-saving vaccines that appear to be on the horizon. Republicans continue to support passing these kinds of urgent and targeted measures as soon as possible.”

Biden last week pushed for Congress to pass the Heroes Act, which would include $2.2 trillion in aid to individuals, businesses and state and local government. But behind the scenes, the president-elect and his transition team may be open to a smaller package if that’s what it takes to make a deal with Republicans.

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Here’s what’s keeping the two sides from finding middle ground and coming to an agreement. We update this story frequently…Read more>>

Source:-cnet

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