Days ahead of a deadline in extending government funding and with the critical relief programs about to expire at the end of the month, leaders in the congress are nearing a deal on a coronavirus relief package where another round of direct payments to Americans is included.
According to CNN, a source familiar with the negotiations shared that the emerging deal would likely cost an estimated $900 billion with contentious provisions on funding for state and local governments and liability protections for businesses set aside.
The said deal will be including two popular provisions that were part of the CARES Act passed in the spring: a weekly benefit on top of unemployment insurance and direct checks to Americans with a salary not exceeding a certain threshold.
As of the moment, it is still not clear how much money would be included in the checks, or what the final amount would be given as an unemployment benefit.
Senate Majority Leader Mitch McConnell, Speaker Nancy Pelosi, House Minority Leader Kevin McCarthy, and Minority Leader Chuck Schumer met for several hours on Tuesday evening, attempting to establish the deal, with Steven Mnuchin, the Treasury Secretary joining by phone.
The Minority leader, Schumer shared to the reporters on Wednesday that negotiators are very close to sealing the deal.
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He also added that they are close and making really good progress as they are feeling pretty good about the recent movements.
The leaders are currently negotiating about the framework that is hugely based on a $748 billion proposal that was introduced by a bipartisan, bicameral group of lawmakers.
The said proposal also involves an additional $300 weekly on top of unemployment insurance, which is significantly lower than the $600 per week that was established by the CARES Act, which expired at the end of July.
The leaders had also introduced a $160 billion proposal which includes the funding of state and local governments, as it is a critical move for Democrats, and liability shields for institutions and businesses, which is a priority for McConnell.
However, as of the moment, the four congressional leaders likely agree regarding the second round of stimulus checks and other aid without addressing funding for state and local, and liability protections.
The source familiar with the negotiations shared that the aid for state and local governments will most likely be available on other avenues in a final bill.
Moreover, Senate Majority Leader Mitch McConnell struck an optimistic tone that a deal could be reached in a speech on the Senate floor by Wednesday morning, New York Daily News reported.
The Republican leader also mentioned that they made major headway into establishing a targeted pandemic relief package that will possibly pass both chambers with bipartisan majorities.
He also added that they are committed to continuing these urgent discussions until they can settle on an agreement, as they have agreed that they will not leave town until they have made the law.
One of the chief negotiators, Democratic Senator Joe Manchin shared on Wednesday that he expects that the direct checks will amount to $600 in order to keep the price tag of the bill close to $900 billion, CBS News reported.
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