House passes revised $2.2 trillion stimulus bill
The House passed Democrats' revised $2.2 trillion coronavirus relief bill 214-207 on Thursday as 11th-hour negotiations between leaders for a bipartisan deal continue.
Why it matters: The legislation, a slimmed down version of the House's initial $3.4 trillion HEROES Act, is Democrats' last ditch effort to strike a stimulus deal with the White House and Senate Republicans before Election Day, though many lawmakers admit they think the legislation has little chance of becoming law.
What's in the bill: The proposal would ...
- Restore weekly enhanced unemployment benefits to $600.
- Extend the small business Paycheck Protection Program, which expired in early August.
- Allocate $28 billion for a vaccine, and $2 billion for more personal protective equipment for industries significantly impacted by COVID.
- Increase federal spending on Medicaid.
- Expand the employee retention tax credit.
- Provide $436 billion for state and local governments and a 15% increase in food-stamp benefits.
- Provide another round of $1,200 direct payments to Americans.
- Increase funding for schools, airlines workers and COVID testing.
What's next: The Senate is unlikely to move on the bill while bipartisan talks between Congress and the White House continue, and few on Capitol Hill are optimistic discussions will be fruitful.