US Congress Reaches Long-Awaited $900 Billion Deal for COVID-19 Aid

The United States Congress leaders have reached an agreement to an estimated $900 billion package of COVID-19 pandemic aid, involving money for businesses and unemployment programs.

Congress Reaches Deal on COVID-19 Relief Package

The funding is slated to accompany a larger, $1.4tn spending bill as financial support to government operations over the following nine months.

Congress leaders reached the deal to bolster the US economy in the midst of the ongoing novel coronavirus pandemic, providing lawmakers a short timetable to evaluate and pass the second-largest economic recuperation measure in the history of the United States.

House Speaker Nancy Pelosi, Senate Majority Leader Mitch McConnell, and Senate Democratic leader Chuck Schumer announced the grant on Sunday.

The votes will reportedly possibly deliberated on Monday.

Here are the contents of the coronavirus relief package:

• Checks in the mail
• More unemployment benefits
• US Postal Service grant
• Payroll loans
• Back-to-school funding
• Business meal write-offs
• Ending surprise medical billing
• Transport industry help
• Rent and eviction aid
• Vaccine distribution aid
• More to fight hunger
• Farm aid
• Expanded Pell Grants
• Internet access
• Global virus alliances
• Tax credits
• Minority-owned businesses

Here is what is not included in the bill in the final negotiations: Liability protection for companies whose employees contract COVID-19, which Republicans have supported for months; Democrats allocated sizable funds for state and local governments instead, reported Reuters.

According to Republican Senate leader Mitch McConnell in a statement, "We've agreed to a package of nearly $900 billion. It is packed with targeted policies to help struggling Americans who have already waited too long." He touted the bill as a "bipartisan breakthrough" and promised "more help is on the way," reported CGTN.

On Sunday, the top Capitol Hill dealmakers secured the negotiation on the nearly $1 trillion COVID-19 economic relief package. The move will deliver long-overdue financial assistance to businesses and individuals and provide funding to deliver vaccines to an eager nation.

The agreement will initiate a temporary $300 per week supplemental unemployment benefit and a $600 direct stimulus payment to the majority of Americans, alongside a new series of subsidies for hard-hit businesses and funding for schools, renters facing eviction, and health care providers.

The House was slated to vote on the legislation on Sunday or Monday, and Senate action would ensue after. Lawmakers are anticipating to leave Washington and close out an eventful year.

According to McConnell on Sunday, "Moments ago, in consultation with our committees, the four leaders of the Senate and the House finalized an agreement," reported NBC News.

The agreement involves stimulus checks of a maximum of $600 for each individual based on income, over $284 billion more in loans for businesses grappling to pay rent and workers, a federal unemployment insurance bonus of $300 a week, and funding to disseminate vaccines and $82 billion for colleges and schools.

The package is expected to have half the amount provided in checks disseminated in March under the CARES Act.

The Democratic House Speaker and Senate minority leader confirmed the agreement had been established with the White House and Republicans on the deal that delivers urgently important funds.