Second Stimulus Checks: Deal for $900 Billion Package With Direct Payments Could Come Wednesday

Americans hoping for a stimulus deal before the end of the year may be in luck. After a meeting of the "Four Corners" — House Speaker Nancy Pelosi, Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy — on Tuesday, negotiators are reportedly closer than ever on securing a $900 billion stimulus plan.

Politico's Jake Sherman reports that the stimulus package would include a new round of direct payments but would leave out state and local aid — something Pelosi had previously refused to bend on — as well as a liability shield for businesses. The deal could reportedly come "as early as [Wednesday] morning."

🚨BREAKING … Hill negotiators are on the brink of a $900bn coronavirus rescue package that would include a new round of direct payments, but would leave out state and local aid, and a liability shield.

A deal could come as early as early this morning.

More on POLITICO shortly

— Jake Sherman (@JakeSherman) December 16, 2020

Given that Friday is the government funding deadline for Congress, and that legislators agree a Covid relief deal should be paired with government funding, lawmakers said that they won't leave Washington, D.C. until a stimulus deal is passed. Tuesday night's meeting in Pelosi's conference room in the Capitol — the first time the "Four Corners" of Congress were together to talk stimulus — proved to be very fruitful.

"I think we've built a lot of trust, I think we're moving in the right direction, I think there's a possibility of getting it done," McCarthy told Politico's Playbook. McConnell agreed, saying the group made "significant progress" and that he is "optimistic that we're gonna be able to complete and understanding soon." McConnell added that "Everybody wants to finish. Everybody wants to get a final agreement as soon as possible. We all believe the country needs it. And I think we're getting closer and closer."

Schumer spoke along those same lines, saying "We're exchanging paper and ideas back and forth, making progress and hopefully we can come to an agreement soon." Pelosi hinted at how soon that may be: "Tomorrow, we'll be back early and we'll be on schedule to get the job done," she said.

It appears that some compromises have been made on both sides, with Politico reporting that a liability shield — which McConnell has been advocating for — and state and local aid — which Pelosi has been advocating for — are both being left out in favor of direct payments. An extension of unemployment benefits is also part of the package under negotiation. As for the direct payments, they will likely be far less than $1,200 per person in order to keep the cost of the bill in check, Politico reports. Stimulus checks have been supported by members of both sides of the political aisle, including President Donald Trump, Sen. Bernie Sanders and Sen. Josh Hawley.

Lawmakers on both sides have hinted that this bill would be a smaller stimulus package that would be followed next year by a larger one. While it's possible that a deal could be reached this week, the two sides still have to finalize language against the clock of the looming deadline on Friday.