Biden's Stimulus Package Expected to Pass In House This Week


President Joe Biden's $1.9 trillion stimulus package is expected to pass a vote in the House later this week.

President Joe Biden's $1.9 trillion stimulus package is expected to pass a vote in the House later this week, according to CNBC.

The stimulus package passed through the House Budget Committee on Monday as Democrats look to pass the package without Republican support. The bill must go through the House Rules Committee and then be voted on the House floor. The bill is expected to pass in the House on either Friday or Saturday.

Once the bill makes it way past the House, it will move to the Senate next week. When the goes to the Senate, it will face severe criticism from Republicans that claim additional stimulus is not needed so soon. Many Republicans believe the bill is too large, citing the Congressional Budget Office report showing an economic recovering progressing without additional stimulus.

Contained in the bill is a $15 per hour minimum wage increase. Republican Jason Smith has been highly critical of this motion. “There has been a lot of attention paid to the $15 Washington mandate in this bill and whether Democrats will shred the reconciliation process in order to force it through,” Smith said. “But also concerning is how this policy would destroy millions of jobs — at least 1.4 million, according to the Congressional Budget Office — and disproportionately harm low-wage workers, disabled workers and less-educated workers.”

Senate Democrats could exclude some of these measures as they analyze the bill and the budget restrictions that come with it. One important figure in this process is the Senate parliamentarian, an official that determines if bills can pass through the chamber with a simple majority. In this case, the Senate parliamentarian will decide if Biden's relief bill meets the standards of the Byrd rule.

All eyes are on the Senate parliamentarian, a relatively obscure official who decides which bills qualify to pass the chamber via reconciliation with a simple majority. The parliamentarian’s job will be to determine whether Biden’s relief bill including the $15 minimum wage hike meets the standards of the Byrd Rule, a provision that outlines which bills do and do not qualify to pass under reconciliation.

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Economics, Finance and Investing