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House Democrats Release $3 Trillion Stimulus Bill

House Majority Leader Steny Hoyer says the bill is likely to be voted upon Friday.

House Democrats released their bill for the next round of fiscal stimulus Tuesday, with a vote on the legislation likely to come Friday, House Majority Leader Steny Hoyer told reporters in a conference call.

“My expectation is that it will be ready by early this afternoon, and I think the members need to anticipate meeting on Friday,” he said. Democrats are trying to push Republicans toward a package that both parties will accept.

The Democratic bill will obviously reflect Democratic priorities. That includes aid to state and local governments, more direct payments to individuals, rent and mortgage relief and appropriations for the U.S. Postal Service, elections and coronavirus testing, Hoyer said, according to Bloomberg.

A House Democratic aide told MarketWatch that the latest package is pegged at $3 trillion, far surpassing the $1.8 trillion bill passed in late March.

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Many Republicans, including President Trump and Senate Majority Leader Mitch McConnell, want to put further stimulus on hold until the impact of the prior three packages is clear. Trump said Friday, “We’re in no rush.”

McConnell said on the Senate floor Tuesday that Democrats’ plan is a liberal wish list that is “the wrong approach” to the coronavirus pandemic, Bloomberg reported. He said the Senate will ultimately propose a bill to limit legal liability for businesses as the economy reopens.

In an interview Sunday, House Speaker Nancy Pelosi indicated one potential area for bipartisan agreement: researching how to reduce reliance on China for crucial supply chain components.