Senate Democrats broker last-minute deal on unemployment benefits, paving the way for vote on $1.9 trillion stimulus plan

In this Feb. 13, 2021, file photo Sen. Joe Manchin, D-W.Va., departs on Capitol Hill in Washington

Alex Brandon/AP

• Senate Democrats struck an agreement on Friday evening on unemployment benefits.
• The new plan would provide $300 weekly jobless aid through Sept. 6 instead of the end of the month.
• It would also provide tax forgiveness for people making up to $150,000.
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Senate Democrats brokered a deal on Friday evening on unemployment benefits, paving the way for a final vote on the stimulus package sometime on Saturday.

Two Democratic aides told Insider that the new plan would provide $300 in federal unemployment benefits through September 6. It would also waive tax payments for the first $10,200 in jobless aid for people making up to $150,000.

Both spoke on the condition of anonymity to share internal discussions.

Sen. Joe Manchin of West Virginia was reluctant to support a new Democratic plan that would provide jobless aid through the end of September. His opposition derailed Senate debate of the relief plan for nearly nine hours.

"We have reached a compromise that enables the economy to rebound quickly while also protecting those receiving unemployment benefits from being hit with unexpected tax bill next year," Manchin said in a statement. "Those making less than $150,000 and receiving unemployment will be eligible for a $10,200 tax break. Unemployment benefits will be extended through the end of August."

This story will be updated.

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Contributer : Business Insider https://ift.tt/3kNM6zW

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