President Donald Trump – who announced this on October 2nd– presses on to work together on a new economic stimulus package, although negotiations were broken off and a $ 1.8 trillion package presented on October 9 was made “big”. The law is supported and a payroll renewal for airlines and other industries. The current proposal from the White House is a package of $ 1.8 trillion, less than the $ 2.2 trillion proposed by the Democrats.
After the backlash from Republicans and Democrats, Trump’s camp is now calling on Congress to divert funds from the coronavirus aid money into a separate bailout bill – possibly for small businesses or the aviation industry.
Still dizzy? Confused? You’re not alone. We will help you to find out which top topics could be included in a separate invoice or an overarching economic stimulus package – one that either comes before theor maybe return to the drawing board after choosing. This story is updated often.
What the $ 1.8 trillion White House stimulus offer contains
House Speaker Nancy Pelosi has spent months meeting with White House Secretary of the Treasury and White House negotiator Steven Mnuchin about the size and approach of the next economic relief law.
Senate Republicans have worked through several proposals for new stimulus laws – up from $ 1 trillion this summera $ 500 billion skinny bill that lacked stimulus checks – but none of the proposals met with approval. For the current round of talks, Mnuchin uses a bipartisan proposal from the House as a starting point. The approach is supported by others, including Republican Senator Lindsey Graham, who said, “It has many good things for individuals and businesses.”
According to the Washington Post, Mnuchin’s current offering is $ 1.8 trillion and includes:
: Irritation tests to the and $ 1,000 for (the CARES law ).
Unemployment benefits: The proposal calls for an increase in unemployment benefit to $ 400 per week (up from $ 600 in the CARES Act, but compared to thethis summer through Executive Action).
State and local funding: The proposal includes $ 300 billion for cities and states, up from $ 250 billion in an earlier proposal.
Pelosi deputy chief of staff Drew Hamill said Friday the spokesman was concerned about the lack of a “strategic plan to fight the virus” in the government’s proposal.
White House spokeswoman Alyssa Farah said Friday that the government wants to keep the cost of the bill below $ 2 trillion. It’s also unclear whether Senate Republicans would support a $ 1 trillion deal.
What a separate invoice could contain
In order to achieve some of the goals that could be achieved with a comprehensive bill, White House leaders have at times pushed for smaller, more focused bills that all could agree on.
“We’re still ready to be engaged, but I’m not optimistic about a full deal,” White House chief of staff Mark Meadows told Fox News this week. “I’m optimistic that there are about 10 things we can do piecemeal.” Trump named three areas in which he would support targeted legislation.
: On Tuesday, Trump said he would sign an authoritative bill immediately. Another is one of the areas that everyone – both Republicans and Democrats – seems to be in . And with new unemployment claims of over 800,000, the need for additional support increases.
Airline support: With the aviation industry hit hard by the coronavirus-inducedThe negotiators have started flagging airline support for stand-alone laws. “Let me just be very clear,” Pelosi said on October 8th. “I was very open to a separate bill for the airlines.” Parliament had previously passed a $ 28.8 billion bill in support of airlines that Pelosi proposed as a starting point for the legislation.
Paycheck Protection Program: The wage protection plan, which was part of this spring’s CARES bill, provided small businesses with forgivable loans to keep employees on payroll. Trump said he would “now” sign a bill authorizing additional funds to protect small business payrolls.
Support for the US Postal Service: This summer the House passed bill to address concerns about the service and the upcoming elections, and provide an additional $ 25 billion in funding. The Senate did not take the bill.
The all-inclusive $ 2.2 trillion Democratic offering
Pelosi continues to refer to the updated version of the Heroes Act (PDF) as the basis for a new bill. The Houselargely party-political. The new hero law contains:
Direct payments: The current democratic proposal calls for payments of up to $ 1,200 per person and $ 500 for each dependent.
Payroll support for small businesses and airline employees: The democratic plan would reimburse payroll protection and extend the program to flight workers.
Unemployment benefits: The plan would re-approve the $ 600 unemployment benefit by January 2021.
State and local funding: The bill would provide assistance to state and local governments with the payment of key workers, including first responders and health workers.
Home help: The proposal would renew financial assistance to renters and homeowners to meet rental and mortgage payments.
What’s happening now
What happens next is in the air. Politico reports that the negotiators intend to work on a deal over the weekend until next week. Senate Majority Leader Mitch McConnell, however, warns that with the election in just under three weeks, a deal before November 3rd is unlikely.
More information can be found hereand , and .