President Joe Biden's $1.9 trillion Covid-19 relief bill cleared its final congressional hurdle Wednesday, with the House passing the bill on an 220 to 211 vote, sending it to the president for his signature.

The vote caps a nearly two-month sprint from the time Biden first unveiled his American Rescue Plan through tough negotiations in the Senate to its final approval largely in the form it was first proposed. Biden plans to sign the legislation on Friday.

The bill is a major political victory for the new president, displaying his influence over a Democratic Party in control of Congress by the thinnest of margins. At the same time, the partisan divide over the bill foreshadows the difficulty Biden will have in enacting the multi-trillion dollar, longer-term economic program he wants later this year.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.