WASHINGTON D.C. — (12-20-20) — On Sunday, congressional leaders announced that they have agreed on the terms on a $900 billion Pandemic Relief plan to help the U.S. economy during the coronavirus pandemic. The Bill is being called the ‘Coronavirus Economic AID Package’.
The legislation is still being written but both Pelosi and McConnell say that the ‘Coronavirus Economic AID Package’ will be voted on by the House and Senate on Monday.
It’s the first significant legislative response to the COVID-19 pandemic since the CARES Act was passed back in March. That package delivered $1.8 trillion in aid and generous unemployment benefits including direct payments to individuals.
Since then, Democrats have repeatedly called for further federal steps to provide relief to battle the COVID-19 pandemic, while Republicans have sought to more fully reopen the economy and to avoid padding the government’s $27 trillion debt.
That’s ironic considering the GOP Tax Cuts and Jobs Act (TCJA) was the single largest contributor to the $4.1 trillion price tag Americans face today. In fact those tax cuts increased the debt by $1.8 trillion through 2029.
Article by: Paul Goldberg, Staff Writer
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