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Senator Chuck Schumer: Congress Could Vote On $900 Billion Coronavirus Stimulus Package Today

Minority leader Chuck Schumer has been wording on a Covid stimulus compromise.

Senate Minority Leader Chuck Schumer said that the Congress could vote today – Sunday – on a $900 Billion Coronavirus Stimulus Package. An agreement over a new stimulus deal has been delayed due to Democrats’ complaints that the plan does not offer direct aid to states for their individual use in dealing with frontline Coronavirus issues.

The new deal will still include $600 stimulus checks to be sent directly to individual Americans. There will also be funds for vaccine distribution and aid to small businesses.

Fox News reported that Senator Schumer said after coming out of a meeting on the stimulus package, “It looks like we’ll be able to [reach an agreement] If things continue on this path and nothing gets in the way, we’ll be able to vote tomorrow”

Republican Senator. Pat Toomey of Pennsylvania had been cited by Democrats as being responsible for the current impasse. He wanted to permanently emergency lending programs which have been helping the states and local governments in addition to mid-sized businesses. These loans are set to expire on December 21 that expire December 31. Senator Toomey expressed concerns about the Federal Reserve becoming too active in the economy, as opposed to serving as a lender of last resort.

The Senate Minority leader had previously tweeted that, “Senator Toomey’s legislation is the only significant hurdle to completing an agreement, and Republicans need to make a decision to help the American people now.”
A compromise has reportedly been reached whereby Senator Toomey has agreed to allow the Federal Reserve to continue to lend money under its emergency powers.

Toomey spokesman Steve Kelly issued a statement explaining that the new agreement, “rescinds more than $429 billion in unused CARES Act funds; definitively ends the CARES Act lending facilities by December 31, 2020; stops these facilities from being restarted; and forbids them from being duplicated without congressional approval.”

“This agreement will preserve Fed independence and prevent Democrats from hijacking these programs for political and social policy purposes.”

In other Chuck Schumer news, the 70 year old Senator announced yesterday announced yesterday that he had received the first of two Covid-19 vaccination shots.

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