A flood of new proposals could make negotiations on the next stimulus package a lively debate. Senate and White House heads of state and government agreed wednesday on a $2 trillion stimulus package, with the new coronavirus likely to experience a short-term recession. A smaller bill could be passed now, and a bigger one could happen later: a subset of programs could be funded before Biden becomes president, such as unemployment aid or an extension of the deportation ban, with the new Congress returning to other programs after his inauguration, such as a second stimulus check. As current president, Trump is expected to sign any legislation passed by January 20 so it can take effect. Congress returned to Washington on Monday and set up a test for the collective will of lawmakers to pass more COVID-19 aid by the end of 2020. This is the last chance to renew the critical aid, which expires on 31 December, which includes additional unemployment benefits and protection for tenants from forced evictions. The next bill may or may not contain a second stimulation test. „We have an agreement between the parties on the largest bailout in American history,” said minority Senate Leader Chuck Schumer. „It`s not a moment of celebration, it`s a moment of necessity.” The failure of Sunday`s vote has stoked short-term concern in the financial sector, which is already weakening. U.S.
equity futures hit their low limit Sunday afternoon, shortly after the vote. The S-P 500 fell about 3% at the close of trading on Monday, the abortive vote on the closure of the law that further angered Wall Street, hungry for economic conditions. The House of Representatives has nine days of formal session and the Senate 14 days before both chambers adjourn for the new year. With less than a month to debate, design and vote on a new stimulus package, Congress is expected to work overtime, including weekends, to reach some kind of deal. On Tuesday afternoon, President Trump tweeted that discussions on a fourth stimulus package would begin after signing the interim bill. Bloomberg reports that Schumer and minority House Leader Kevin McCarthy both confirmed that an agreement had been reached Tuesday afternoon. CNN quoted three people familiar with the negotiations, who also confirmed that an agreement had been reached.