More Stimulus Money is Coming Soon

Americans will be getting more stimulus money to help during the Coronavirus pandemic.

Congress reached an agreement Sunday on a $900 billion stimulus package that will send immediate aid.

It's the second boost from federal dollars into the economy since April. Negotiations between Republicans and Democrats over getting more aid to the American people proved to be difficult and at times contentious, especially considering the fact passing the package leading up to the election could have helped with the re-election of Donald Trump.

However, House Speaker Nancy Pelosi insists resistance to passing the stimulus had nothing to do with the election but instead details of the package Democrats opposed.

The plan is half the size of the $2.2 trillion stimulus law enacted in March.

“We can finally report what our nation has needed to hear for a very long time,” Senator Mitch McConnell, Republican of Kentucky and the majority leader, said Sunday night. “More help is on the way.”

The deal came together virtually before the stroke of midnight after a weekend of wheeling and dealing on both sides of the aisle.

What Americans really want to know is how much will they be getting? The answer appears to be about $600 for Americans earning up to $75,000 a year. It would also revive lapsed supplemental federal unemployment benefits at $300 a week for 11 weeks — setting both at half the amount provided by the original stimulus law.

It will also provide aid to gig workers and freelancers, and will extend federal payments for people whose regular benefits have expired.

The measure will also provide more than $284 billion for businesses and revive the Paycheck Protection Program.