Stimulus: What happens next with Biden's $1.9 trillion stimulus plan
The Senate passed a budget resolution on Friday that allows Democrats to push President Joe Biden's $ 1.9 trillion stimulus plan forward. However, there is no guarantee that they will have enough votes for the Law of Atonement to become law.
"This is the whole ball game," Mark Harkins, former congressional staff member and senior fellow at the Government Affairs Institute in Georgetown, told Yahoo Money. “Do you have 51 votes at the end of the day? It won't be easy, but it won't be impossible either. "
Read more: What to do if you haven't received your stimulus check
Scroll to continue with the content
1-5 Şubat VarVar İndirimi
1-5 Şubat VarVar İndirimlerine Özel Fiyatlarla Aradığın Ürünler ÇiçekSepeti'nde! Süper Fırsatlar 1-5 Şubat VarVar İndirimleri ile ÇiçekSepeti'nde!
Democrats need 51 votes for part or Biden's entire package to pass. This means that the support of the entire Democratic caucus in the Senate along with the groundbreaking vote by Vice President Kamala Harris is required to get the legislation through. However, it remains unclear whether the bill will be supported by more centrist Democrats like Senator Joe Manchin (D-WV).
United States President Joe Biden arrives for talks with State Department officials during his first visit to Washington, DC on February 4, 2021. (Photo by SAUL LOEB / AFP) (Photo by SAUL LOEB / AFP via Getty Images)
The resolution is now going to the final vote in the House, which has already passed it after the Senate added new amendments. Thereafter, 11 different committees receive instructions on reconciliation and begin to compile sections of the bill, taking into account some of the changes that were approved in the Senate Vote-a-Rama session.
One amendment came from a bipartisan group of Senators, including Manchin and Senator Susan Collins (R-ME), who were preventing “higher-income households” from receiving the $ 1,400 stimulus checks under Biden's stimulus plan. The amendment was accepted but is only advisory.
Read More: Here's what Joe Biden's $ 1.9 trillion "rescue plan" says that could help your wallet
"An amendment sets out what the majority of Senators currently think on the issue," said Harkins. "But that's all."
However, including some of these amendments could help Democrats get the 51 votes they need to pass the stimulus package. Manchin supported the development of the budget resolution but said he was "hopeful that we can get bipartisan support in the future," which would include the adoption of some amendments.
"The president remains confident that we can get bipartisan support in the future," Manchin said in a statement on Tuesday. "I will only support proposals that will get us through and end the pain of this pandemic."
"The first major legislation ... it is usually a little easier"
Biden's $ 1.9 trillion legislation includes $ 1,400 in stimulus payments on top of the $ 600 from the second round, the extension of key unemployment programs due to expire this spring, small business aid, $ 350 billion - dollars for state and local governments, plus a tax hike loan for low and middle income families and $ 160 billion for a national program of vaccinations and testing. It also calls for the minimum wage to be increased to $ 15 an hour.
It is unclear whether all of the provisions could be passed by a vote that would have to include items that affect the federal government's overall spending or income. While some provisions could easily qualify for the reconciliation process - like the $ 1,400 stimulus payments and the expansion and expansion of unemployment benefits - others like the $ 15 minimum wage might not.
While Democrats need every single Democratic and independent vote to pass the laws, Republican support can also help them hit the 51-vote threshold.
"The first major piece of legislation a new president goes through is usually a little easier," said Harkins. “There's still that aura of positivity around a newly elected president. The second law becomes more difficult. "
Read more: Here's what remains to be done to help tenants during the pandemic
Some Republican senators could endorse the legislation if some changes are made and, according to Harkins, are under pressure from the popularity of the plan. More than two-thirds of Americans support Biden's stimulus plan, a recent Yahoo News / YouGov poll of 1,516 people.
The inclusion of some Republicans would also help the administration on future laws - like an infrastructure bill - that takes 60 votes to pass legislation.
"This is the way for all major laws to evolve," said Harkins. "I think that is what President Biden wants to avoid - that we are at the very beginning of our camps, and that's it."
Yahoo Money's sister site, Cashay, has a weekly newsletter.
Denitsa is a writer for Yahoo Finance and Cashay, a new personal finance website. Follow her on Twitter @denitsa_tsekova.
Stock market highs, booming real estate, and millions of unemployed: A story of two Americas amid the coronavirus pandemic
House and Senate pass $ 900 billion stimulus deal
Read more Cashay personal financial information, news, and tips
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube and Reddit.
Russian scientists say Sputnik V performs well against COVID mutations
Exclusive: Single-shot Covid vaccine could be weeks away as regulators start approval process
L.A. restaurant closes after high-tech "dine and dash" scheme
CCIV Stock: One Lucid Merger Tweet Has Churchill Capital Moving Higher
U.S. calls on African Union to exert pressure over worsening crisis in Ethiopia's Tigray
Buddy Hield overturned tip-in late in Kings' win upheld by NBA L2M report