COVID-19 Legislative Update: Stimulus Update Dec. 1, 2020

Max Shenker
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December 1, 2020 – On December 1, a bipartisan group of lawmakers unveiled a proposal to reach a compromise on COVID-19 stimulus to be passed before the end of the year. Congress must pass a spending bill by December 11 to avoid a government shutdown, and the lawmakers want to use that opportunity to also pass additional stimulus.

The proposal is to spend $908 billion, roughly in the middle between of previous proposals from House Democrats and Senate Republicans. The following is the framework presented for how the funds would be divided:

But according to the Washington Post, “The plan circulated by the bipartisan group is light on details but seeks to reach a middle ground on numerous contentious economic issues…. Aides close to the effort described details as fluid and subject to change.”

A lobbyist who has communicated with Congressional staff working on the compromise indicated that details have yet to be worked out and would be dealt with at by the relevant policy Committees.

Politico reports that in contrast to the bipartisan compromise effort, “Senate Majority Leader Mitch McConnell (R-Ky.) told GOP senators on Tuesday that he would be reviving and altering his targeted relief package for a vote, according to two sources briefed on the party’s conference call. The bill would be signed by President Donald Trump, McConnell said. But Democrats seem unlikely to support it.”

The Senate Majority Leader was also quoted as saying, “I’d like to remind everyone the way you get a result is to get a presidential signature.” There are additional reports that McConnell may release his new proposal as early as today.

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