After months of delays and stalled negotiations, Congress has reportedly reached agreement on a $900 billion stimulus package. The breakthrough was announced Sunday night (December 21) by Senate Majority Leader Mitch McConnell (R-Kentucky) and Senate Majority Leader Chuck Schumer (D-New York).

Lawmakers are expected to vote on the proposal soon, along with a government spending bill for the coming fiscal year; as reported by CNBC, the stimulus package will include a second stimulus check for $600 in the form of a direct payment to adults. Families are expected to receive $600 per child, but adult dependents are not included. The text of the relief bill has not yet been finalized.

If Congress follows the previous bill, Americans earning less than $75,000 per year should be eligible for the full amount, according to their most recent tax returns; those earning between $75,001 and $99,000 would receive a reduced amount; and those earning between $75,001 and $99,000 would receive a reduced amount. Couples with a combined income of $150,000 or less should be eligible, but details should be announced soon.

According to Democrats, the new coronavirus bill would provide $284 billion for small business loans under the Paycheck Protection Program. An additional $20 billion would be provided for small business grants.

In addition, the proposal would reportedly include both a $300 federal unemployment subsidy and $300 billion for small business assistance, including Paycheck Protection Program loans.

Since the Covid-19 vaccine has finally begun to be distributed, the deal would also include funding for vaccine distribution by Pfizer and Moderna. Both of these vaccines have been approved by the FDA, but the federal government has been criticized for the slow pace of deployment. In addition, the bailout should result in additional funding for hospitals.

According to the federal government, 5.9 million doses of Modena's vaccine are scheduled to be distributed this week. The U.S. will distribute an additional 2 million doses of Pfizer's vaccine. This follows the 2.9 million doses authorized for shipment last week.

This additional relief cannot come soon enough, as more than 2,500 cobid-related deaths were recorded in the U.S. on Saturday and 196,000 new cases have been reported. Additionally, 935,000 new people applied for state unemployment benefits last week, and 455,000 people applied for pandemic unemployment assistance.

The House will reconvene at 6:30 p.m. ET to consider a continuing resolution to extend the 2021 budget negotiations another day and vote on it around 6:45 p.m. ET. The budget bill will then be passed by the Senate. Both chambers are scheduled to vote on the stimulus bill on Monday (December 22).