Stimulus Update: Bipartisan Group of Lawmakers Set to Unveil $908 Billion Stimulus Bill Monday Afternoon

A bipartisan group of senators is expected to unveil their $908 billion stimulus bill Monday afternoon amid the last-ditch effort to pass relief before the end of the year. The group, dubbed the "908" group, consists of a 10-member cross-party group. They announced plans for their bipartisan package on Dec. 1, with the proposal gaining momentum on Capitol Hill. Speaking Sunday on CNN's State of the Union, Sen. Bill Cassidy, one member of the group, confirmed, "we're going to introduce a bill tomorrow night." It is expected that the bill will be introduced at around 4 p.m. ET.

According to people familiar with the negotiations, and as reported by Politico, the bill will be split into two separate pieces. Totaling $748 billion, the first part of the package will include less controversial provisions, including schools and health care. The second half, with a price tag of $160 billion, will include funding for local governments as well as temporary liability protections for small businesses.

The decision to split the bill in half comes just days after Senate Majority Leader Mitch McConnell suggested dropping liability protections and aid for state and local governments in an effort to reach a deal. Those two provisions have long been controversial and have led to the collapse of past negotiations. McConnell suggested temporarily setting these aspects aside in order to "pass those things that we can agree on." It is believed that providing these provisions under a separate, smaller bill could make it more likely that a relief package can be finalized before Congress leaves for the holidays.

The proposal has gained a growing backing since it was first announced, with President-elect Joe Biden stating Friday that "this relief package won't be the total answer even if it gets passed, but it's an important first step. There's so much we have to do." House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer have also voiced their support for the proposal, which has been framed as an emergency measure that would help the nation survive the first quarter of 2021. Currently, a number of benefits enacted under the CARES Act, which was passed in late March, are set to expire by the end of December, including unemployment benefits and the eviction moratorium.

At this time, it is unclear if the bipartisan proposal will pass Congress. Cassidy acknowledged that "what Leader [Mitch] McConnell decides to do, I don't have control over. I only can do what I can do." There are also other proposals on the table, including a $916 billion proposal from the White House, though it has been deemed as "unacceptable" by Pelosi and Schumer.