A source familiar tells CNN that a deal about the path forward on the Covid-19 stimulus bill is coming soon.
Under a final agreement accepted by Sen. Joe Manchin, Senate Democrats will now offer an amendment to extend the enhanced Unemployment Insurance program through September 6 at $300 a week, according to a Democratic aide with knowledge of the negotiations.
The House-passed bill would have provided the benefit through August 29.
The Senate has been at a standstill for hours after Manchin, a moderate Democrat, signaled he could back a GOP plan on jobless benefits.
This agreement also provides tax relief to workers who received unemployment insurance compensation by making the first $10,200 of unemployment benefits non-taxable for the first time to prevent surprise bills for the unemployed at end of year, which was not in the House-passed legislation. This provision applies only to households with incomes under $150k.
The agreement also extends tax rules regarding excess business loss limitations for one additional year, through 2026.