The closing of former President Donald Trump’s Senate indictment on Saturday has freed Congress from concentrating on delivering President Joe Biden’s proposed $ 1.9 billion coronavirus relief package, which includes $ 1,400 stimulus investigations. But because the House and Senate are on planned breaks this week, the process could take longer than many Americans would expect.
The House Ways and Means Committee voted Thursday to approve part of Biden’s plan, mostly consisting of direct payments of $ 1,400, in a 24-18 vote along party lines. The expanded bill will be voted on piecemeal as the Senate intends to use the budget reconciliation process to circumvent the Republican opposition and filibuster.
The legislation now moves to the House Budget Committee, where it will remain until the House reconvenes. Both the House and the Senate will return to the recess on February 22 to work on the package again. The proposal is expected to go through the house in a floor vote before the end of the month. Then the Senate Democrats could approve it without reconciliation by GOP.
Brandon Bell / Getty
Lawmakers have set March 14 as an unofficial deadline to approve further coronavirus assistance, as federal unemployment benefits expire under Trump’s $ 900 billion aid package on that date.
House President Nancy Pelosi announced last week that Congress will pass the package by the end of this month. She told reporters she believes the bill will be sent to the Senate in just over a week so Congress can ‘finish our work before the end of February’.
However, the eligibility and income thresholds have yet to be determined. According to the Democrats’ proposal, individuals earning less than $ 75,000 would receive the full payment of $ 1,400 and couples earning $ 150,000 would earn $ 2,800. Payments will be reduced for those earning above the limit, before being phased out completely for those earning more than $ 100,000 and couples earning more than $ 200,000.
With Biden supporting the proposal, Democrats voted in favor of a vote that would allow the plan to succeed without adjustments to accommodate fiscally conservative Republicans.
After the stimulus check is passed by Congress, the bill will have to be signed, and then the IRS will take about a week to start processing.
If Congress approves the bill during the week ending February 26, it could be signed on March 1, and direct deposits could begin running during the week of March 8. The paper checks and Economic Impact Payment (EIP) cards take longer to process. Below the timeline, the IRS can start the week of March 15 and the EIP cards the week of March 22 to distribute the paper checks.
Newsweek reached the Treasury Department for further information.