- President Donald Trump reportedly plans to sign a $ 900 billion stimulus deal for brokerage by Congress.
- Senate and House leaders concluded a long-awaited deal on Sunday, ending months of unsuccessful negotiations.
- The law would include a $ 600 incentive check, $ 300 weekly unemployment benefit, small business assistance and funds for schools and universities.
- For more stories visit the Business Insider homepage.
White House spokesman Ben Williamson said Sunday that President Donald Trump planned to sign a $ 900 billion stimulus deal.
“President Trump has worked hard for months to give financial relief to Americans badly,” he said. According to Jake Sherman of Politico. “We look forward to sending Congress a bill on its desk imminently for signature.”
The White House did not immediately respond to Business Insider’s request for comment.
Congress leaders on Sunday attacked the long-awaited deal, putting an end to the months-long negotiations. Trump’s explicit support for the relief deal could generate more GOP support and help ensure a smooth passage into the Senate. Many Republican senators oppose further federal spending, citing a growing budget deficit.
Republicans and Democrats came to the agreement after months of failed negotiations. After pumping more than $ 3 trillion into the economy during the spring. Lawmakers have not approved a new relief plan since April. The new law would include a $ 600 incentive check, $ 300 weekly federal unemployment benefits, small business aid and funds for schools and universities.
No bill text has been released yet.
Those earning up to $ 75,000 in 2019 qualify to receive a full $ 600 incentive check. According to a congressional summary obtained by Business Insider, the income limit for couples has doubled to $ 150,000. A family of four could receive financial relief of $ 2,400 under the deal.
The parameters align with the earlier funding package that Congress approved in March. Earlier this year, lawmakers approved a wave of $ 1,200 incentive checks as the epidemic initially scorched the country.
Trump urged Congress to pass a coronovirus relief bill for months before announcing weeks before the 2020 election that he was negotiating. He also asked for a big investigation several times.
On Saturday, the day before the deal was announced, the president called for Americans to receive “more money in direct payments.”
Congress is expected to vote on the package on Monday, after which it will come to Trump’s desk to sign.