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There’s been endless back-and-forth over the past few months when it comes to stimulus negotiations.
At this point though you can pretty much narrow down the talks to a few key numbers.
Below are some of the key figures that are being focused on right now that will help you understand what’s going on with the next stimulus package.
Assuming that all Democrats vote in favor of the next stimulus package (which many believe is quite likely), 13 Senate Republicans will need to vote in favor of the new stimulus package for it to pass.
The most that we have been guaranteed is that Senate majority leader Mitch McConnell is committed to putting the package on the Senate floor as long as it is agreed-upon with the White House administration.
We have heard from some key Republicans such as Lindsey Graham and Marco Rubio about their willingness to support a stimulus package even if it is above their desired budgets.
Therefore, depending on the contents of the package I think it is possible that we can see Republicans vote in favor of a pretty large stimulus deal.
But just how big, nobody knows.
There are 22 seats in the Senate up for reelection.
Some races in the polls are extremely close and some Republicans will no doubt feel pressure to vote in favor of a stimulus package so close to the election.
This pressure could help move the stimulus package over the finish line.
The new stimulus bill may provide dependents with a $1,000 allowance which is a $500 increase from the first round of stimulus checks.
I’m not 100% clear on the specifics but it seems that this will be available for up to three dependents so that a family of five could receive up to $5,400.
The current price tag getting negotiated is at about $1.9 trillion.
The highest that we have seen Republicans offer is about a $1 trillion package and Democrats began this process with a $3.4 trillion proposal.
Democrats cut down their proposal to about $2.2 trillion which is where their stance has been “dug in” for quite some time.
Expect to see a final package come out at around $1.9 trillion.
Aid to state and local governments has been perhaps the biggest issue with the new bill.
Democrats have asked for up to $900 billion in aid for state and local governments but Republicans have kept their offers ranging from $200 to $400 billion.
Many lawmakers see this component of the bill as bailing out states and cities who mismanaged their funds well before coronavirus impacted their economies.
So this has been a pretty hot button issue.
Democrats initially proposed reviving the $600 federal unemployment benefit and applying it retroactively back to September.
However, the White House has proposed a $400 federal unemployment benefit. Their plan would also apply retroactively so I think the odds of retroactive unemployment benefits coming are pretty good.
These are all key numbers to keep in mind as negotiations continue.
We are expecting to hear back from the White House administration today regarding requests that Pelosi made on Friday.
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.