U.S. House Democrats Approve New COVID-19 Stimulus Bill
Last Thursday, U.S. House Democrats approved a new $2.2 trillion COVID-19 relief proposal which provides a second round of stimulus checks, $1,200 per adults and $500 per dependent, and it would be extended to those without a social security number, including those in the country illegally and who file taxes via an Individual Taxpayer Identification Number.
The updated stimulus legislation also includes changes to the Paycheck Protection Program to include the smallest businesses and nonprofits, second loans for the hardest hit, and targeted assistance for the restaurant industry.
Several moderate blue dog democrats, especially those in districts won by President Trump in 2016, voted against the bill and urged Speaker Pelosi to reduce the total cost of the bill and compromise with the GOP.
The bottom line: Do not expect a COVID-19 deal before the November elections as the House is expected to leave town today.
