Biden on $1.9 Trillion Stimulus Bill Passing House: "Senate Must Act Now"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Yujin Cho] U.S. President Joe Biden urged the Senate on the 27th (local time) to swiftly approve the $1.9 trillion (approximately 2,140 trillion won) economic stimulus package, Bloomberg reported.

In a White House speech that day, President Biden welcomed the House of Representatives' passage of the stimulus bill, saying, "Now is the time to act," and added, "It is clear that an overwhelming majority of Americans support the stimulus package."

He said, "The bill has now moved to the Senate," and "There is no time to waste. If we act decisively, swiftly, and boldly now, we can finally get ahead of the virus and get the economy moving again."

Bloomberg also reported that after the House approved the bill, President Biden called House Speaker Nancy Pelosi to praise her leadership.

The U.S. House passed the stimulus bill the day before with 219 votes in favor and 212 against. The current House seats are 221 for the Democratic Party and 211 for the Republican Party, indicating that the vote was along party lines.

The provision to raise the minimum wage to $15 per hour by 2025 included in the stimulus package is expected to be dropped during Senate review.

The Democrats, who hold 50 seats in the Senate along with 50 seats for the Republicans, had planned to use the budget reconciliation process to pass the stimulus without Republican cooperation. However, Senate Parliamentarian Elizabeth MacDonough ruled that the minimum wage increase could not be included under budget reconciliation.

President Biden and the Democrats have been pushing the bill with the plan to complete the process by the 14th of next month.

The Senate is evenly split with 50 seats held by Democrats and Democratic-leaning independents, and 50 seats by Republicans. To overcome a filibuster by the opposition party in the Senate, more than 60 votes in favor are required.

This content was produced with the assistance of AI translation services.