House lawmakers last week pushed forward with President Joe Biden’s $1.9 trillion stimulus package, which includes a $1,400 direct payments to eligible Americans.

On Thursday, the House Ways and Means Committee advanced a key part of the legislation and on Friday the House gave final approval to a budget blueprint. Democrats have been relying on the budget reconciliation process to advance parts of Biden’s coronavirus relief plan without Republican support.

By combining separate bills into one overall relief package, Democrats hope to send out a $1,400 direct payment to Americans making up to $75,000 and couples who earn no more than $150,000.

The legislation would also extend key benefits of unemployment programs and aid families up to $3,600 a year per child.

A group of Republican senators had attempted to introduce a $600 billion compromise bill, but it was rejected by Democrats who believed it was too small to aid people financially impacted by the pandemic.

Gene Sperling, who served as Director of the National Economic Council and Assistant to the President for Economic Policy under Bill Clinton and Barack Obama, believes that with Democrats holding the majority in the House and Senate, there could be historic reforms in changing America for the better.

“There’s more Democratic unity than ever on taking bold steps on an economic dignity compact,” he told CNN.

“(It’s) possible for 2021 to be one of the greatest years of progressive accomplishment in the past century.”

To pass Biden’s $1.9 trillion stimulus bill, Democrats will have to make sure all members of the party vote for the legislation and abide by the Senate budget guidelines.

On Thursday, House Speaker Nancy Pelosi said the relief bill could be approved by the end of February and expects it to be signed by Biden before unemployment benefits expire on March 14.

Traders are hoping US lawmakers can push through a new stimulus package for the world's biggest economy before the Senate takes up Donald Trump's impeachment trial
Traders are hoping US lawmakers can push through a new stimulus package for the world's biggest economy before the Senate takes up Donald Trump's impeachment trial AFP / GEORGE FREY