Having begun the process on Feb. 22, the U.S. House and Senate have moved through a $1.9 trillion coronavirus relief package within just three weeks. This puts us on track to spend roughly $5 trillion on stimulus and COVID efforts in 12 months since the CARES Act passed in March 2020.
The Senate has made some changes to the bill after House passage on Feb. 27 but likely not enough to derail the nearly $2 trillion measure. The House will have to take another vote on the bill the week of March 8, with President Biden expected to sign the legislation into law prior to unemployment benefits expiring on March 14.
Sources in Washington, D.C. indicate that Congress is not done yet. Next on the agenda is a transportation and infrastructure bill that reportedly may spend $1-3 trillion on the nation’s highways, roads and bridges. President Biden has already begun meeting with lawmakers to discuss the transportation bill that may start moving through Congress later in the spring or summer. First things first – the $1.9 trillion COVID bill.