Democrats want to enact a new stimulus package within weeks. Here's the possible calendar for passage of $1,400 direct payments.

• Democrats want to pass Joe Biden’s rescue package within weeks.
• Final passage could come in early March, before the expiration of enhanced unemployment insurance.
• Here is a stimulus timeline with possible floor votes.
• Visit the Business section of Insider for more stories.

Democrats aim to pass President Joe Biden’s $1.9 trillion economic rescue plan in only a matter of weeks.

The House Budget Committee kicked off a markup session on Monday afternoon which is set to last at least five hours, according to Rep. John Yarmuth (Ky.), chair of the Budget Committee. The panel is expected to approve the legislation and send it to a floor vote.

Here’s the Democratic calendar for coronavirus relief, based on statements from Democratic officials:

• February 25-27: The House is expected to vote on passage of the government rescue plan.
• March 2-5: The Senate takes up the legislation, and possibly amends it before a vote.
• March 8-12: The House votes on the rescue package again if the Senate makes legislative changes.

Democrats have a narrow margin of error. They are pledging to enact the package before March 14, the date that enhanced unemployment benefits for millions of Americans starts ending.

Rep. Don Beyer of Virginia, vice chair of the Joint Economic Committee, told Insider that Democrats will “do our damnedest to meet it.”

The House proposal would also provide $1,400 stimulus checks and $400 federal unemployment benefits through August It also includes funding for vaccine distribution and virus testing, aid for state and local governments, and a $15 minimum wage increase.

Still, some key hurdles remain in the Senate. Democrats are using a process called reconciliation that allows them to pass a budgetary bill with only 51 votes instead of 60.

The Senate parliamentarian governing the procedure may rule the wage increase is unrelated to the federal budget and strike down the provision, setting back the timeline. On the other hand, the wage increase’s sponsor, Budget Committee Chairman Sen. Bernie Sanders (I-Vt.), obtained a letter from the Congressional Budget Office saying it would have a sizable impact on the budget.

In recent weeks, Biden has downplayed the odds it would survive the process, though he still supports the measure.

Republicans are uniformly opposed to the Biden plan. They argue it is too costly and that a previous round of aid enacted in December still hasn’t been fully tapped.

Source: Read Full Article