On Friday, House Democrats passed the $3 trillion HEROES Act. It will now be voted on by the Senate, but when is that vote expected to take place?
According to AS.com, the vote will not come until after the May 24 Memorial Day recess. Market Watch quotes Height Capital Markets analysts as saying that negotiations on the bill will take “at least until the end of May”, with a final package likely being delayed until June.
Henrietta Treyz, director of economic policy at Veda Partners, has echoed those sentiments, telling Market Watch that the next stimulus package “will now come in June at the earliest.”
Republican Whip John Thune of South Dakota agrees, saying it’s unlikely the bill will be voted on before the Memorial Day recess, and it will “probably be part of a larger bill that will happen later.”
So, we’re still weeks away from approving a bill that could include another round of $1,200 stimulus checks to qualifying Americans.
The Senate Has Already Voiced Their Opposition to the Bill
A number of Republicans have denounced the bill, with Majority Leader Mitch McConnell referring to the package as “another big laundry list of pet priorities”.
And even if the bill were to pass in the Senate, it would then have to be signed by President Trump, who has dismissed the HEROES Act as “Dead on Arrival.”
House Speaker Nancy Pelosi, however, has urged policymakers to move quickly. On Sunday, she said on CBS’ “Face the Nation”, “Time is very important. We have lost time. But, again, setting aside how we got here, we cannot take a pause.”
She added: “They may think it’s OK to pause, but people are hungry across America; hunger doesn’t take a pause. People are jobless across America, that doesn’t take a pause. People don’t know how they’re going to pay their rent across the country. We have to address this with humanity.”
Rep. Tom Cole replied to Pelosi’s statements by arguing, “The bill is simply a Democratic agenda masquerading as a response to the coronavirus pandemic. The bill will go nowhere and go there fast. … Why we’re going through this exercise rather than negotiating in a bipartisan manner is beyond my understanding.”
What Does the Bill Include?
The $3 trillion, 1,800-page relief package aims to alleviate economic distress caused by the coronavirus pandemic.
It calls for $1 trillion in aid to local and state governments, an additional round of stimulus checks to eligible Americans, and $200 billion in “hazard pay” for essential workers.
And unlike the CARES Act, the HEROES Act would issue payments of $1,200 to dependents, for a maximum of three dependants. The CARES Act provided just $500 for dependent children only.
In addition, the HEROES Act would extend the additional $600 per week for unemployment benefits to January 2021, and aid homeowners and renters by prohibiting eviction filings for one year and foreclosures, Investopedia reported.
Still, there is room for negotiations when it comes to the final draft of the bill.
Pelosi, herself, has admitted, “No bill will go into effect without negotiations. We have no red lines.”