House Financial Services Committee Approves $75 Billion in Coronavirus Aid

The House Financial Services Committee (HFSC) approved on February 11 its section of the coronavirus relief bill. The HFSC package, totaling $75 billion, passed out of the committee by a vote of 29-24. It contains funding for housing and homelessness programs, including $25 billion in emergency rental and other housing assistance and $5 billion to assist people who are homeless with immediate and longer-term needs, as well as other vital provisions (see Memo, 2/8).

The vote followed two days of committee debate and votes during which Republicans proposed 35 amendments to the bill, with only one adopted by the committee. Other House committees also completed votes on their sections of the relief package, including the House Ways and Means Committee, which included provisions for $1,400 stimulus checks and an expansion of the Child Tax Credit program.

Having secured committee approval, the committees will now send their sections of the relief package to the House Budget Committee, where they will be combined into one $1.9 trillion package. Congressional leaders hope to send a final bill to President Biden before March 14, when extended unemployment benefits are set to expire.