Political and Legislative

House Panel Advances Biden’s $1.9 Trillion Bill

The House on Monday moved forward with its $1.9 trillion coronavirus relief package, setting the stage for passage later this week.

The chamber’s Budget Committee advanced the bill in a 19-16 vote as Democrats rush to beat a March 14 deadline to extend key unemployment programs. The party is trying to pass the proposal through budget reconciliation, which allows it to get through the evenly split Senate without Republican support.

The bill’s main provisions include:

  • A $400 per week unemployment insurance supplement through Aug. 29
  • The extension of pandemic-era programs expanding jobless benefits to gig workers and self-employed people and increasing the number of weeks individuals can receive payments through Aug. 29
  • $1,400 direct payments for individuals making up to $75,000, and couples earning up to $150,000, which phase out at $100,000 and $200,000 in income, respectively

Read the source article at cnbc.com

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