March 6 the U.S. Senate voted 50-49 to pass a marginally revised version the American Rescue Plan Act (H.R.1319). The approximately $1.9 trillion COVID-19 stimulus proposal will now go back to the House for another vote.

The Senate-passed version of the package did not include provisions to increase the federal minimum wage to $15/hour, tightened eligibility for direct stimulus payments, and reduced additional weekly unemployment benefits down to $300/week (compared to the House-passed version’s $400/week). The package will also provide an additional $7.25 billion in Paycheck Protection Program (PPP) loans.

The House is expected to take up a vote on the legislation as soon as possible. It is anticipated that Speaker Nancy Pelosi (D-CA) will still be able to whip up the votes to pass the legislation. However, she can only afford to have four Democrats oppose the bill for it to pass, if House Republicans remain united in opposition to the bill.

To become an IWLA member visit, http://31y.93c.myftpupload.com/become-an-iwla-member/