Insistently optimistic, President Donald Trump said of the greatest public-health emergency in anyone's lifetime, "I don't think its going to end up being such a rough patch" and anticipated the economy soaring "like a rocket ship" when it's over. The House could take it up as early as Thursday.
Senate Majority Leader Mitch McConnell has hailed the "wartime level of investment" in the nation. "This must be fixed immediately, either by amending the Senate deal to increase SNAP and/or immediately passing a stand-alone bill that does so".
The bill will give $500 billion in direct payments to the American public, bolster unemployment insurance with a surge of $250 billion, provide $500 billion in loans to big businesses, and create a $350 billion loan program for small businesses.
The extended unemployment benefits in this bill attempts to protect workers "whether they work for small, medium or large businesses, along with the self-employed and workers in the gig economy", Sen. That would result in $2,400 to a married couple making up to $150,000, with $500 payments per child. Those making more than the limit receive a reduced benefit, amounting to $50 less for every $1,000 above $75,000, until the benefit is phased out entirely for those earning more than $99,000 per year.
Other provisions in the bill include $45 billion for FEMA's disaster relief fund, a six-month suspension of federal student loans and protections against evictions and foreclosures are also included.More news: Lionel Messi Makes €1m Donation to Help Fight Coronavirus
According to a summary circulated by the office of Democratic leader Chuck Schumer, businesses owned by the president, vice president, members of Congress or heads of executive departments would be excluded from receiving that aid.
The Treasury would give loans to industries out of a $500-billion money pot.
This was a major sticking point for Democrats: they successfully pushed for oversight, including the installment of an inspector general and a congressionally appointed board to monitor the fund.
There has also been controversy over the stimulus plan's unemployment benefits. Tim Scott of South Carolina, Rick Scott of Florida and Ben Sasse of Nebraska argued that it would incentivize unemployment and could trigger worker shortages and supply disruptions by providing more money to some jobless workers than they would make working.More news: Canadians who have lost their jobs anxiously awaiting federal help
Sherrod Brown called the bill "a much better deal for workers and their families and communities" than a version he opposed on Monday, which he dismissed as a "Wall Street giveaway" that didn't adequately help hospitals or do enough for workers.
"Do we need to be giving PBS more money now when people are dying?"
House. Speaker Nancy Pelosi, D-Calif., swung behind the bipartisan agreement, saying it "takes us a long way down the road in meeting the needs of the American people".
"What is important is for us to recognize the good that is in the bill, appreciate it for what it does". "We (Congress) do have to do more, but that would be no reason to stop this step that we are taking", she told CNN.
The outbreak has touched directly on Congress, where three lawmakers have reported testing positive for the coronavirus and several others are in self-quarantine.More news: Joe Wicks 'in talks with Channel 4 over daily fitness show'
A voice vote is procedural move that would avoid a recorded roll call vote, which would have forced members now dispersed throughout the country to travel back to Washington to get the stimulus across the finish line.