Congress poised to vote on coronavirus stimulus after resolving Fed dispute

 

• Following many months of negotiations, Congress is set to finally green light on a $900B coronavirus stimulus package after senators struck a late-night compromise to a dispute over the Fed's emergency lending powers.
• The central bank wouldn't be able to replicate programs identical to the ones it started at the beginning of the pandemic without congressional approval, but that wouldn't prevent it from starting other similar programs.
• "If things continue on this path and nothing gets in the way, we'll be able to vote tomorrow," Senate Minority Leader Chuck Schumer said Saturday night, while a spokesman for Senate Majority Leader Mitch McConnell spokesman added: "We can begin closing out the rest of the package to deliver much-needed relief to families, workers, and businesses."
• The legislation includes $600 in direct payments to individuals and $300 per week enhanced unemployment benefits, as well as funding for schools, healthcare providers, vaccine distribution and small businesses.
• The package will be attached to a $1.4T spending bill funding federal programs through September 2021 after Congress passed a two-day spending bill on Friday in a bid to avert a government shutdown.
• https://seekingalpha.com/news/3646031-congress-poised-to-vote-on-coronavirus-stimulus-after-resolving-fed-dispute