Over the weekend, the Senate passed its version of the President’s $1.9 trillion pandemic aid package. The bill will now return to the House of Representatives to consider the changes made by the Senate, which include smaller unemployment benefits and the removal of provisions increasing the federal minimum wage among other things. These changes, while disappointing to the House, are not anticipated to impact the bill’s eventual approval and submission to the President. The House is expected to vote on the Senate’s bill on Tuesday avoiding any delay by submitting the bill to the conference committee process.
The House and Senate versions of the bill include;
- $1,400 stimulus check to Americans earning less than $75,000 per year;
- health insurance subsidies;
- an increase in the child tax credit;
- direct funding to state and local governments;
- funding for schools; and
- more money for vaccine distribution.
We will provide further updates as the bill works its way through Congress and the President’s desk. If you have any questions concerning these matters or if we can provide you with any further assistance, please let us know.
Markowitz Ringel Trusty + Hartog concentrates on the representation of businesses, institutions, fiduciaries, and individuals across several practice groups, which include Restructuring + Insolvency, Litigation + Dispute Resolution, Real Estate + Business, Probate + Guardianship, and Trusts + Estates. Dedication to clients and service to the community are the principles upon which Markowitz Ringel Trusty + Hartog was founded in 1980, and upon which it still operates today.