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Senate Republicans introduced their long awaited bill meant to address the ongoing economic uncertainty throughout the country, agreeing that another round of stimulus checks to the vast majority of Americans is needed.
Dubbed the HEALS Act, the $1 trillion legislation calls for another round of checks to be sent out using the same income thresholds as the first round of checks. The additional $500 per dependent is also included, but this time it is extended to all dependents, including college students and adult dependents.
One major difference with the House HEROES Act is that the Senate bill will reduce the additional weekly unemployment benefits from $600 to $200/week, which would be paid out until an individual state creates a new unemployment system that would pay up to 70% wage replacement for unemployed individuals.
On the fact of it, the House and Senate seem to be miles apart, but I honestly think they are far closer than we're being led to believe. When it comes to the stimulus checks, they are basically on the same page. Then I can certainly see room for compromise with the additional weekly unemployment insurance. After that, the House and Senate will each have to give and take a bit on all the other aspects of their bills. If I were a betting man, a final bill totaling around $2 trillion will pass both houses and be sent to President Trump for his signature.
What do you think about the Senate bill? Is there anything you like better than the House version or are you more in favor of the legislation passed in the House?