$1.9 Trillion Biden Stimulus Plan Passes U.S. Senate... House Reconsideration Pending

Dramatic Passage by 1 Vote with 49 Votes in Their 50s
Re-vote in the House on the 9th Also Expected to Pass Smoothly

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] The U.S. Senate has passed the $1.9 trillion (approximately 2,140 trillion KRW) COVID-19 relief package proposed by the Joe Biden administration. The relief package, which passed the Senate by a margin of just one vote, now only awaits President Biden's final signature after being re-voted in the House of Representatives. Since the Democratic Party holds the majority in the House, the re-vote is expected to pass easily, meaning the biggest hurdle has effectively been overcome.

According to foreign media including CNN, on the 6th (local time), the U.S. Senate passed the relief bill with 50 votes in favor and 49 against after an overnight session that began the previous day. All Democratic senators voted in favor, while all Republican senators voted against, splitting the vote along party lines. The reason the bill passed by a single vote in a Senate evenly divided with 50 Republicans and 50 Democrats was reportedly because Republican Senator Dan Sullivan was absent due to attending his father-in-law’s funeral.

The relief bill will be sent back to the House for a re-vote. The version passed by the Senate includes new provisions such as $1,400 cash payments per adult, an extension of additional unemployment benefits, expanded vaccine distribution and testing, and support for school reopening. Since some parts of the bill passed by the House last month were modified, the House must re-approve the revised version. Notably, the eligibility criteria for cash payments were tightened to include individuals earning less than $80,000 annually or families with a combined income under $160,000. Previously, the House-passed bill set the income cap at $100,000 for individuals and $200,000 for couples.

Steny Hoyer, the Democratic House Majority Leader, issued a statement immediately after the Senate vote, saying, "We plan to bring this to a vote in the House on the 9th." Currently, the House seats are held by 221 Democrats and 211 Republicans, giving Democrats a clear majority, so the re-vote is expected to pass easily. Senate Majority Leader Chuck Schumer also stated, "The House will pass the bill, and President Biden will sign it before the enhanced federal unemployment benefits expire on the 14th."

President Biden expressed his approval in a White House speech immediately after the Senate passed the bill. He said, "I promised help for the American people, and today we took a big step toward fulfilling that promise," adding, "It certainly wasn’t easy and not always smooth, but this bill was desperately and urgently needed." He emphasized, "This relief package will accelerate the production and distribution of COVID-19 vaccines."