- President Donald Trump reportedly plans to sign the $900 billion stimulus deal brokered by Congress.
- Senate and House leaders struck the long-awaited deal Sunday, ending months of failed negotiations.
- The legislation will include $600 stimulus checks, $300 weekly unemployment benefits, small business aid, and funds for schools and universities.
- Visit Business Insider’s homepage for more stories.
President Donald Trump plans to sign the $900 billion stimulus deal brokered by Congress, White House spokesperson Ben Williamson said Sunday.
“President Trump has pushed hard for months to send Americans badly needed financial relief,” he said, according to Politico’s Jake Sherman. “We look forward to Congress sending a bill to his desk imminently for signature.”
The White House did not immediately respond to Business Insider’s request for comment.
Congressional leaders struck the long-awaited deal Sunday, clearing hurdles that gummed up negotiations for months. Trump’s apparent support for the relief deal could generate more GOP backing and help ensure a smoother passage in the Senate. Many Republican senators oppose further federal spending, citing the growing budget deficit.
Republicans and Democrats came to the agreement after months of failed negotiations. After pumping over $3 trillion into the economy during the spring. lawmakers have not approved a new relief plan since April. The new legislation will include $600 stimulus checks, $300 weekly federal unemployment benefits, small business aid, and funds for schools and universities.
Video: McConnell: Stimulus negotiations in Congress are ‘down to the last few differences’ (The Washington Post)
No bill text has been released yet.
People who earned up to $75,000 in 2019 qualify to receive the full $600 stimulus check. That income threshold is doubled to $150,000 for couples, per a congressional summary obtained by Business Insider. A family of four can receive $2,400 of financial relief under the deal.
The parameters align with an earlier economic aid package that Congress approved in March. Earlier this year, lawmakers approved a wave of $1,200 stimulus checks as the pandemic initially swept the country.Â
Trump urged Congress to pass a coronavirus relief bill for months, before announcing weeks prior to the 2020 election that he was done negotiating. He has at times also called for larger checks.
On Saturday, the night before the deal was announced, the president called for Americans to receive “more money in direct payments.”Â
Congress is expected to vote on the package Monday, after which it would head to Trump’s desk to be signed.