On Monday, September 28, House Democrats unveiled the HEROES Act 2.0, a pared-down version of their previously proposed $3 trillion coronavirus stimulus package, in an effort to revamp negotiations before the November 3 election.
As legislators continue to argue over the overall price-tag for the next round of relief, the new $2.2 trillion House bill seeks to find a middle ground on certain measures.
The trimmed-down HEROES Act calls for $436 billion in emergency aid for state and local governments; $225 billion for schools and child care; extended $600 federal unemployment payments through January; $75 billion for testing and other health care efforts and funding for the United States Postal Service and its election efforts.
The package also seeks to funnel $25 billion to avert thousands of potential airline layoffs, a measure backed by President Donald Trump, as well as another round of direct stimulus checks to the millions of Americans struggling to make ends meet.
“Pelosi has said House Democrats are prepared to put the bill on the floor, however, if talks with the administration falter,” Roll Call reported. “A number of rank-and-file Democrats, including moderates in tough reelection races, have urged a floor vote on something they can go home to campaign on.”
While the House is scheduled to adjourn on October 2, allowing representatives to go back to their districts and campaign, the Senate is scheduled to go on a break after October 9, according to Value Walk.
Here’s what you need to know:
The Bill Calls for $1,200 & $2,400 Stimulus Checks, Including $500 ‘Multiplied by the Number of Dependents of the Taxpayer’
According to the Democrats’ proposal, qualified individuals would receive another $1,200 stimulus payment, while joint filers could expect another $2,400 check. It also includes “$500 multiplied by the number of dependents of the taxpayer for such taxable year.”
“In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by subtitle A for the first taxable year beginning in 2020 an amount equal to the additional rebate amount determined for such taxable year,” the bill states.
Eligible individuals include everyone except “any nonresident alien individual.” A Tax Identification Number is also required from the tax return of the taxable year.
Pelosi Says She Is in Contact With Mnuchin
On Monday, U.S. House Speaker Nancy Pelosi indicated that she is in communication with U.S. Treasury Secretary Steven Mnuchin regarding stimulus talks, according to CBS8, citing her spokesperson Drew Hammill.
She added on MSNBC that same day that “it takes money to crush the virus,” claiming Republicans need to step up to the plate.
“We’ve come down $1 trillion, and they need to come up because we have to crush this virus,” Pelosi stated. “It takes money to crush the virus. It takes money to make the schools safe. It takes money to put money in people’s pockets.”
Pelosi also expressed in a September 28 letter to her colleagues that “Democrats are making good on our promise,” CBS8 added.
“We have been able to make critical additions and reduce the cost of the bill by shortening the time covered for now,” the House speaker wrote.