Stimulus package update

New stimulus package: what is included in the White House offer?

After a very confusing week of back-and-forth between the Trump administration and Nina Pelosi, with both sides making a last effort to sign a bill before election day, Trump made a 1.8 trillion offer that was opposed by both parties. What did the proposed bill include?

On Saturday, Democrats in the House and Republicans in the Senate both expressed opposition to President Donald Trump’s coronavirus stimulus offer. After a complicated week for negotiators, this seems to ward off the possibility of a new stimulus package being passed before elections.

According to NBC News, the White House offer includes the following:

•State and local governments — $300 billion

•Unemployment insurance — $400 per week, through the third week of January and retroactive to Sept. 12

•Liability protection for businesses

•Stimulus checks — $1,200 for adults, $1,000 per child

•Airlines — $20 billion

•PPP loans — $330 billion

•Minority lending — $10 billion

•Testing, tracing, vaccines, and health-care providers — $175 billion

•Education — $150 billion

•Student loan forgiveness — $25 billion

•Food assistance — $15 billion

•Child care — $25 billion

•Postal service — $10 billion

•Employee retention tax credit — $91 billion

•Lodging industry — $20 billion

•Broadband — $15 billion

With so little time remaining before the elections, and with things changing every moment, it is difficult to imagine that an agreement on a new relief bill could be reached and that the law could be enacted before November 3rd.

Even though there are issues on which they remain apart, such as the price tag and the amount of money provided to state and local governments,  Trump and Pelosi have been optimistic about striking a deal, so perhaps it may still be possible.

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