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Category: Budget

Bipartisan COVID Relief Bill Unveiled

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A bipartisan group of Senators have introduced a “middle ground” COVID relief bill which they hope can work for both sides of the aisle and pass before the holidays. The $908 billion bill includes some relief for state, local, and tribal governments, the USPS, $300/week unemployment supplements, help for small businesses, testing and tracing, housing assistance, a reauthorization of the paycheck protection program, and more. The bill does not include another round of $1,200 stimulus checks.

An overview is available here, however the actual bill has not been made available yet.

Some of the $908 billion is repurposed from prior spending bills, rather than new spending.

It is unclear whether the bill has enough support to pass in either chamber, or whether the President would sign it. Democrats continue to push for greater spending while Republicans want a smaller price tag.

Read more here.

Stimulus Bill Fails in Senate

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The Senate today voted on a GOP-introduced $500 billion stimulus package, however the bill failed on a 51-44 vote.

Negotiations continue between House Democrats and the Administration. The two sides are potentially very close to reaching a deal on an almost $2 trillion package. Senate Majority leadership reportedly does not support such a large price tag. An agreement would need to be reached between the House, Senate, and Administration in the next few days in order to pass both chambers and be signed into law before the November 3rd elections.

Updates here.

House Updates HEROES Act

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House Democrats have released an updated, smaller, “HEROES Act 2.0”, totaling approximately $2.2 trillion. This COVID relief bill would provide support for small businesses, airline workers, childcare, food security, the Census, education, local governments, and healthcare. Specifically, $39 billion would go to colleges and universities, $3 billion would go to research relief for NIH, and $2.9 billion would go to research relief for NSF. Research relief for other agencies is not included.

A one-pager is available here.

A vote is expected in the coming days. The Senate is not expected to take action, however negotiations between House Democrats, Senate Republicans, and the Administration continue.

House Passes Continuing Resolution

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The House passed a continuing resolution (“CR”), H.R. 8337, to fund the Federal Government through December 11th, 2020 and avoid a potential shutdown. The bipartisan resolution passed 359-57 and is part of a deal reached by House Democrats, Senate Republicans, and the Administration. The CR must still pass in the Senate and be signed by the President. The full story is available here.

As of now, all 12 FY 2021 appropriations bills have passed in the House, but none have passed in the Senate, indicating a likely long road ahead.

 

White House Reveals FY22 R&D Priorities

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The White House has published a memorandum outlining the FY22 Research and Development priorities for federal agencies. AI and QIS remain a top priority, however due to COVID-19, significant focus has been placed on public health concerns including vaccine development and infectious disease research. Other areas of interest include energy, space, and security.

Read the full memo here.