Senate Republicans on Tuesday unveiled a coronavirus relief plan far smaller than what lawmakers on both sides of the aisle spent weeks arguing over. It's a bill that even Senate Majority Leader Mitch McConnell says isn't perfect.
The proposal faces an uphill battle to becoming law as Democrats instantly vowed to block what they called a political ploy to help endangered Republicans in November and not meet the needs of American families and businesses.
The estimated $300 billion proposal, dubbed the Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act, includes bolstered unemployment benefits, funding for schools and liability protections for businesses and healthcare facilities. A $300 bolster to weekly unemployment benefits – reduced from a $600 boost that expired in July – that will run through Dec. 27. The amount is what President Trump promised the federal government would provide out-of-work Americans in an executive order last month.
Liability protections for businesses, hospitals, churches and schools against some COVID-related personal injury claims.
A second round of loans under the Paycheck Protection Program for small businesses. Businesses will have to have less than 300 employees and show at least a 35% gross revenue reduction compared with last year.
A $10 billion loan given to the Postal Service would be forgiven and thus turned into a grant. The Postal Service would be required to offer a report to Congress on how the virus has increased its expenses, an issue that has drawn scrutiny.
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