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US House passes CASH Act to increase stimulus; Senate to vote Tuesday

The United States House of Representatives voted to increase stimulus payments directly to Americans from $600 per person to $2,000 per person. 

The increase was in a stand-alone bill, H.R. 9051 called the CASH Act (Caring for Americans with Supplemental Help (CASH) Act of 2020) which was introduced by Ways and Means Committee Chairman Richard E. Neal (D-MA) on Christmas Eve. 

Despite President Trump asking for the increase, the majority of Republicans voted against the increase. The bill passed with just over two-thirds of the House voting in approval.

The vote won the Democratic caucus by a 231-2 margin, Republicans voted 44-130 and independents voted 0-2.

The legislation now goes to the US Senate, where its future is unclear. Senate Majority Leader Mitch McConnell, who largely controls what legislation gets to the floor, has not spoken about the CASH Act or considering such a vote in the Senate.  The Senate will be in session on Tuesday.

The CASH Act: 

Increases the value of the economic impact payments (EIPs) provided in the end-of-year COVID relief package so that each eligible family member receives $2,000, up from $600.

Applies the same, broader eligibility established in the end-of-year package to mixed-status families where one spouse has a Social Security Number (SSN). As specified in the latest COVID relief legislation, these families are eligible for the EIP amount for each family member with an SSN, and can claim the corresponding amount for the first round of economic impact payments when they file their 2020 taxes.

If the proposal to increase stimulus checks to $2,000 is signed, the overall cost of the stimulus bill would go from $900 billion to $1.36 trillion, according to House data released on Monday.

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