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Stefani Reynolds/Bloomberg via Getty Images

The Senate voted 50-49 on Saturday to approve President Biden's $1.9 trillion COVID relief package.

Why it matters: COVID relief has been a central promise for Biden, and passing the sweeping package has been a major priority for the administration and congressional Democrats.

What's next: The House is expected to take up the Senate version of the bill next week before it is sent to Biden for his signature.

Context: The bill passed more than 24 hours after the Senate opened debate. Republicans forced dozens of votes overnight into Saturday on amendments in an effort to stall the process.

  • Democrats approved the package through the budget reconciliation process, meaning it did not require any Republican support to pass.
  • However, the reconciliation process also prevented Democrats from including a provision to increase the minimum wage to $15/hour in the legislation. The Senate parliamentarian ruled last month that the wage increase does not directly affect the federal government’s finances.

What they're saying: "I promised the American people that help is on the way. Today, I can say we've taken one more giant step forward in delivering on that promise," Biden said from the White House Saturday.

  • "This plan puts on a path to defeating this virus," the president said, adding that stimulus checks will likely begin going out later this month.
  • Senate Majority Leader Chuck Schumer (D-N.Y.) said just before final passage that the "bill will deliver more help to more people than anything the federal government has done in decades."
  • Senate Minority Leader Mitch McConnell (R-Ky.) called the bill "the most progressive" piece of legislation "in a generation," according to NBC News.

Highlights from the bill:

  • Expanded federal funding for COVID programs, including $46 billion for testing and tracing; $7.6 billion for pandemic response at community health centers; $5.2 billion to support research, development and manufacturing of vaccines, therapeutics and other medical products; and $7.7 billion to expand the public health care workforce.
  • $1,400 stimulus payments for most Americans.
  • $128.6 billion to help K-12 schools reopen.
  • $350 billion in state and local aid.
  • $25 billion in aid to restaurants and other food and drinking establishments.
  • $19 billion in emergency rental assistance.
  • $7.25 billion in funds for Paycheck Protection Program loans.
  • The bill also extending the enhanced unemployment insurance of $300 per week through Sept. 6.

Editor's note: This story has been updated with Biden's comments and clarify the Senate version of the bill extends enhanced unemployment insurance through Sept. 6.

Go deeper

Updated Mar 5, 2021 - Politics & Policy

Hours-long reading of 628-page COVID relief bill delays Senate debate

Sen. Ron Johnson. Photo: Stefani Reynolds/Bloomberg via Getty Images

The Senate on Thursday voted 51-50 — with Vice President Kamala Harris breaking the tie — to proceed to debate on President Biden's $1.9 trillion coronavirus rescue package, likely setting up a final vote this weekend.

The state of play: Sen. Ron Johnson (R-Wis.) forced Senate clerks to read the entire 628-page bill on the floor, which took nearly 11 hours and lasted until 2:04 a.m. on Friday. The Senate is set to return at 9 a.m. to debate the bill before considering amendments, which could drag into the weekend.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Peloton stock tanks on report of production halt

Illustration: Aïda Amer/Axios

Peloton stock fell by as much as 25% on Thursday, following a CNBC report that the connected fitness company will temporarily halt production on its bikes and treadmills.

Why it matters: Peloton is viewed by many as a proxy for consumer behavior in the pandemic era, as its popularity surged when gyms closed and people wanted to exercise at home.

Updated 2 hours ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Omicron pushes COVID deaths toward 2,000 per day — The pandemic-proof health care giant.
  2. Vaccines: No evidence that healthy children, teens need boosters, WHO says — Starbucks drops worker vaccine or test requirement after SCOTUS ruling — Kids' COVID vaccination rates are particularly low in rural America.
  3. Politics: Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" by Biden on anti-mask school policies.
  4. World: American Airlines flight to London forced to turn around over mask dispute — WHO: COVID health emergency could end this year — Greece imposes vaccine mandate for people 60 and older.
  5. Variant tracker