Congress Nears Deal on COVID-19 Stimulus Package

December 18, 2020

Leaders of both parties inched closer on Thursday to agreement on a COVID-19 stimulus package. The package would include more funding for PPP loans, allow a second loan draw for hard-hit small businesses and streamline forgiveness for loans of $150,000 or less. In addition, the measure is expected to include some level of direct payments to individuals, enhanced unemployment benefits, rental assistance, and more funds for vaccines, testing and schools.

A vote on a final package could take place this weekend combined with a $1.4 trillion year-long government spending bill. House Speaker Nancy Pelosi (D-CA) and Senate Majority Leader Mitch McConnell (R-KY) have said that Congress will stay in town until a COVID-19 bill gets done.

A bipartisan group of eight Senators (four Republicans and four Democrats), which included Senator Mitt Romney (R-UT), paved the way for an agreement by proposing a $908 billion plan that focused on areas of common ground that Republicans and Democrats alike could support.

In a press release, Romney commented on the work of the bipartisan coalition, noting that “in addition to our bipartisan, bicameral legislation, these talks revealed an important truth: that, contrary to conventional wisdom, it is possible to find areas of common interest and to compromise in good faith without violating our principles.”