U.S. Senate Majority Leader Mitch McConnell Cwalks passes the Ohio Clock Corridor on Capitol Hill in Washington, DC, USA on August 10, 2020.
Ting Shen | Xinhua News Agency | Getty Images
The Senate will vote on a coronavirus stimulus bill earlier this week, Majority Leader Mitch McConnell said Tuesday.
In a statement, the Kentucky Republican said the chamber wanted to take up a “targeted proposal”
CNBC previously reported that the GOP is considering a roughly $ 500 billion proposal to address improved unemployment insurance, new small business loans, school funding, and money for Covid-19 tests, treatments, and vaccines. It is unclear how similar the package will be to the plan developed late last month.
The bill is unlikely to get the 60 votes it takes to get through the Senate or get support in the Democratic House. Last week, Senate Minority Chairman Chuck Schumer, DN.Y., called the legislation “totally inadequate”.
Democrats and the Trump administration have failed to break an impasse on coronavirus aid since talks between the sides collapsed late last month. Democratic leaders have been pushing for the White House to allocate at least $ 2.2 trillion in federal funding to stimulate the U.S. economy and healthcare system during the pandemic. Republicans have not yet agreed to make more than $ 1.3 trillion.
Congress failed to pass a fifth coronavirus bailout package even after an additional $ 600 per week unemployment benefit, federal evictions moratorium, and small business paycheck protection program loan application window expired. The loss of these lifelines has resulted in millions of people being unemployed from the coronavirus and struggling to cover costs, even if the labor market overall recovers.
Last month, Republicans considered resuming supplemental unemployment insurance at a reduced rate of $ 300 to $ 400 per week, CNBC reported. Schumer particularly criticized the legislation because reports said it did not include relief for state and local governments or money for rent and mortgage assistance.
Democrats have called for more than $ 900 billion in new aid to states and communities, some of which will have to cut services if they no longer receive aid. The White House, which accuses Democrat-led cities and states of providing funding to cover pre-pandemic financial mismanagement, has not offered more than $ 150 billion in new funding.
The non-partisan National Governors Association has asked for at least $ 500 billion in aid.
Senate Republicans released their first passport on a fifth coronavirus aid package in late July. The roughly $ 1 trillion bill contradicted more than $ 3 trillion in House Democratic legislation passed in May. It kicked off the business cycle negotiations, which have made little progress since then.
While most GOP senators now recognize the need for another relief bill, some have spoken out against spending any more federal funds to combat the pandemic.