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U.S. Senate Starts Voting on Biden’s $ 1.9 Trillion COVID-19 Assistance Bill

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Washington — The US Senate on Saturday began voting for President Joe Biden’s $ 1.9 trillion coronavirus rescue program at the end of a 24-hour session that began on Friday.

Democrats, who have narrow control of the Chamber of Commerce, have agreed to reduce aid to millions of people who have lost their jobs in the crisis. When Friday night changed to Saturday morning, they stuck to cancel the Republican bill amendment attempt. This will be the biggest stimulus ever, according to the Congressional Budget Office.

If the democratic bill is enacted, Washington will provide approximately $ 6 trillion in emergency assistance over the past year to combat the coronavirus pandemic and help stabilize the US economy.

Senate leader Chuck Schumer said in a morning debate that lawmakers were nearing the end of a long amendment process before voting for the entire bill.

Democrats need to have all 50 Caucus in a 100-seat room to pass the package, as Republicans are united against it.

The Senate is the longest in modern times as the Democratic Party has negotiated a compromise on unemployment benefits to satisfy middle-class politicians like Senator Joe Manchin, who worried that a large package could overheat the economy. Set a record for a single vote.

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Once that was resolved, Senator began processing a pile of proposals to amend the bill.

Democrats have voted against Republican amendments to change the way schools, state governments, transportation systems, and farmers are distributed.

Early on Saturday, Democrats repelled an attempt by Republican Senator Tom Cotton to send a huge bill back to the Commission to redo some of US immigration policy unrelated to the COVID-19 pandemic.

Republicans dropped one vote after Senator Dan Sullivan left Washington to go to Alaska for a family funeral.

The biggest public health crisis of the century has killed more than 521,000 people in the United States, left millions unemployed, and disrupted most aspects of American life.

Relief Act includes funding vaccines and medicines, expanding unemployment assistance and providing new emergency financial assistance to households, small businesses, state and local governments.

Polls show widespread public support for the package.

The Democratic Party wants Biden to sign the law before some of its current benefits expire on March 14.

Friction point

Unemployment assistance is just one of many points of friction in the law. Democrats have previously modified it to increase aid to smaller states and cities.

A version passed by the House of Representatives last Saturday demands $ 400 a week for federal unemployment benefits until August 29, in addition to state benefits, to help Americans unemployed during a pandemic.

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The compromise will reduce that amount to $ 300, but will extend it slightly until September 6. The unemployed will be exempt from tax on the first $ 10,200 of aid received last year. The agreement also extends corporate tax cuts for another year until 2026.

According to the White House, Biden is in favor of the compromise.

If the Senate passes the bill, the House of Representatives must approve those changes before Biden signs the bill.

Republicans have widely supported previous stimuli to fight the virus and revive the economy. However, they criticize the bill as being too expensive, as the Democratic Party is in charge of the White House and both parliaments.

The country has not yet replaced the 9.5 million jobs lost since last year, and the White House says it may take years to do so.

Washington got the unexpected good news on Friday after showing that US jobs surged in February, adding 379,000 jobs, significantly more than many economists expected.

(Written by Andy Sullivan, Reported by Makini Bryce, David Morgan, Richard Cowan, Edited by Scott Malone, Francis Kelly, Leslie Adler)

The partnership with Financial Post provides a detailed report on The Logic’s innovation economy.

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U.S. Senate Starts Voting on Biden’s $ 1.9 Trillion COVID-19 Assistance Bill

https://financialpost.com/pmn/business-pmn/u-s-senate-begins-voting-on-bidens-1-9-trillion-covid-19-aid-bill U.S. Senate Starts Voting on Biden’s $ 1.9 Trillion COVID-19 Assistance Bill

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