Congressional leaders reached a deal on a $900 billion economic stimulus bill. A vote is expected soon.
The bill “has probably spared millions of Americans from a winter of poverty and kept the country from falling back into recession,” according to a Times analysis. And “it may provide a bridge to a vaccine-fueled rebound” next year.
Central to the bill are one-time stimulus checks of $600 per person in households making up to $75,000. The bill is also expected to include an expansion of jobless benefits by up to $300 per week for 11 weeks and money for small businesses and schools. Here’s what it means for you.
A late sticking point in the stimulus talks had been a Republican proposal to restrict the Federal Reserve’s ability to loan money to businesses. In the end, the bill will ban only a narrow set of such programs.
The New York Times