It appears that the relief fund is not going to be made available to the government and the people since Congress is still in a deadlock. However, lawmakers hurried to pass the two-day funding extension to evade the government shutdown.
The majority of the House is supportive of an extension by a couple of days. This was additionally sent to the Senate, and they were quick to approve it with a voice vote.
Donald Trump has signed a bill where another cutoff time is given to mediators to figure out their disparities. The COVID-19 relief bill has been stuck for a little while now and the time has come to decide it.
The Congress majority was prepared to choose a $900 million relief fund with an unemployment reward included. They expected that it will likewise include relief for small businesses and the relief amount for COVID-19 vaccines.
Federal Reserve can take emergency steps to protect the economy in case of any unforeseen event like COVID-19. However, by cutting off emergency lending facilities, it can restrict the Biden administration.
The Democrats believe that this roadblock is an attempt to tie the hands of the Biden administration. Biden is already coming to power at a time that is considered the worst in the economic history of the US, and this bill will add to his tensions.
Speaker of the House is planning to include a deal of almost $1 trillion to be part of the relief fund. It was agreed that the members are likely to come to an agreement sooner, but it didn’t happen and the voting on the bill was delayed further.
Despite the fact that Biden’s transition period has already begun and he is to be inaugurated next month, it appears that the feud will continue. The Democrats are going to keep rejecting the bill presented by the Republicans for COVID-19 and vice versa.
The Senate is ready to do the late sittings as both parties come to a mutual agreement that can end this deadlock. McConnell is very optimistic that a bipartisan rescue package is going to be released very soon.