Here’s what’s in the latest COVID relief bill

  • The House Budget panel released the text of its stimulus plan late Friday
  • The bill comes with a higher minimum wage, direct checks, and bigger child tax credits
  • The House could vote as early as next week then send the package to the Senate. 
  • Visit the Business section of Insider for more stories.

The House released the text of a coronavirus aid package late Friday that closely resembles the proposals President Joe Biden unveiled just before being sworn into office. 

A vote, expected as early as next week in the Democratic-led House, would put Biden a step closer to the first major legislative victory of his presidency. 

But first, the $1.9 trillion bill called the American Rescue Plan Act is headed before the House Budget Committee on Monday for finishing touches. A panel that sets up the rules for debate and amendments will then take it up before sending it for House floor action. 

The Senate will then take it up if it passes in the House — as it almost certainly will. 

The legislation faces a more complicated process in the upper chamber where Democrats with their razor-thin majority cannot afford to lose support from any in their caucus given Republican opposition.

The strict and complicated rules that Senate Democrats are using to fast-track the package will limit what they can and cannot ultimately include. 

The final bill that reaches Biden’s desk will probably look a little different from what he initially proposed. Democrats want it signed into law by March 14, when some of the existing aid lapses. 

“Without this relief package, conditions will spiral further out of control and families will suffer needlessly,” Rep. John Yarmuth, a Kentuck Democrat who heads the House Budget Committee said in a Friday news release unveiling the bill text.

It would become the sixth federal aid package created to address the pandemic, adding to the $4 trillion in emergency spending lawmakers and former President Donald Trump already…

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