Congressional leaders announced an agreement on a new $900 billion stimulus bill that will deliver a boost in unemployment benefits and provide $600 checks to some families. Democratic leaders are depicting this as a big win and are promising that these kinds of emergency spending bills will become “much easier” in a new Congress under Joe Biden. Both of those arguments are ridiculous.

Here’s the truth: Democrats had a rare opportunity to win on a wildly popular proposal for much bigger survival checks, but they chose to lose. Here’s some more truth: onetime means-tested checks of $600 is not a big victory, and not even the bare minimum that should be considered acceptable during an economic meltdown that has been punctuated by mass starvation and intensifying poverty.

Though the legislative language of the final package has not yet been released, it appears the meager checks come in a bill that will give new tax benefits to corporate executives to write off their meals and provide other tax breaks to businesses that used the Paycheck Protection Program — which will be a windfall for the wealthy. Will the bill change the law to similarly exempt emergency unemployment benefits from tax levies? We don’t yet know, but there’s no indication it will.