Second Stimulus Check Update: We’re Very Close, McConnell Says

Capitol Hill might need to work through the weekend to get it done, but Senate Majority Leader Mitch McConnell said Thursday that lawmakers were close to agreeing on a new stimulus package.

From the Senate floor, McConnell said a deal was “close at hand,” but stressed it was “highly likely” that Democrats and Republicans would need to work through the weekend to hammer out their remaining differences.

Recognizing their bipartisan differences, lawmakers split the latest stimulus package in two.

One is a $748 billion package that adds more funds to the low-interest Paycheck Protection Program of loans for small businesses, directs money to schools, provides assistance for vaccine distribution and supplements state unemployment insurance.

The other is a $160 billion proposal that combines two of the main sticking points; protection from pandemic-related lawsuits and money for state and local governments.

Among the issues of debate of the $749 billion proposal is the size of the checks that could be sent out to American families. The CARES Act, a $2.2 trillion stimulus bill passed in March, delivered $1,200 checks to taxpayers.

This bill, however, calls for about half of that. Vermont Sen. Bernie Sanders, an independent, said the measure as proposed is progress, but “it is not enough.” He was joined earlier by an unlikely ally in Sen. Josh Hawley, a Missouri Republican who said American families need the support because of the economic burden from the pandemic.

Who would qualify for whatever checks are sent out would likely fall under the distribution guidelines outlined in the CARES Act. To get a $1,200 check, a taxpayer needs a valid Social Security number and can’t be claimed as a dependent. On income, a limit exists on individual taxpayers claiming more than $75,000, $112,500 for someone claiming head-of-household status and married couples claiming more than $150,000.

Sen. Chuck Schumer added Thursday afternoon that the American people deserved relief.

A continuing resolution keeps the government funded through Christmas. Lawmakers were tentatively scheduled for holiday recess beginning Friday, and it’s unclear what lawmakers would do if the weekend passed without a bipartisan stimulus bill.

If the government were to shut down after Christmas, as many as 12 million Americans could lose out on their unemployment insurance checks.