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Stimulus bill update: $908 billion relief plan just unveiled

stimulus check 2
(Image credit: Getty Images)

Stimulus check 2 isn't a part of a $908 billion stimulus plan proposed on Tuesday in a bi-partisan effort to end the months-long spending stalemate in Congress. 

But for those concerned that the new plan would hurt hope for a second round of $1,200 stimulus checks if passed, there's good and bad news. The good news is that Senate Majority Leader Mitch McConnell has already shot down the plan (via CNBC); the bad news is that the bi-partisan framework provided aid for small businesses, people on unemployment and institutions at the forefront of combating the coronavirus.

The plan allotted billions for small businesses, governments, education, transportation and tools for battling coronavirus. It notably supported $300 per week in enhanced federal unemployment benefits, which are due to expire at the end of the year.

Though that's less than the $600 per week provided by March's CARES Act and less than that Democratic negotiators have called for in the progression of bills proposed in past months, with it seemed like the bill would garner support from both sides. 

That said, the $908 billion bill is larger than the $500 billion "skinny" bill McConnell brought forth in the Senate in August. That bygone plan did not fare well as it fell some ways short of the $2.2 trillion House Speaker Nancy Pelosi has demanded for aid. 

Disagreements over spending have left lawmakers without a new relief plan amid record-breaking coronavirus case counts and a transfer of power in the White House just weeks away.

Stimulus check 2 and Joe Biden: What you need to know

President-elect Joe Biden has called on Congress to pass a coronavirus relief package before Inauguration Day, a move that would require compromise with the outgoing Trump administration. 

According to Politico, Biden has expressed support for the Democrats' $2 trillion spending proposal. That plan included stimulus check 2 amount of $1,200 under the same framework as the first stimulus check. 

If a plan doesn't materialize until after Biden is elected, his administration faces an uphill battle. He'll have to get the plan through what's likely to be a GOP-led Senate. Unless the Democrats win both Senate seats from Georgia in runoff elections set to take place in early January, a large spending bill will need bi-partisan support.

Kate Kozuch

Kate Kozuch is a senior writer at Tom’s Guide covering wearables, TVs and everything smart-home related. When she’s not in cyborg mode, you can find her on an exercise bike or channeling her inner celebrity chef. She and her robot army will rule the world one day, but until then, reach her at kate.kozuch@futurenet.com.