Two months after Home Democrats authorized a $Three trillion COVID-19 support package deal, Senate Republicans are poised to unveil their $1 trillion counteroffer as Congress returns to work Monday.It could be the fifth coronavirus reduction invoice for the reason that spring, when Congress distributed and President Donald Trump authorized almost $Three trillion in emergency support.Now, with the pandemic worsening and the present spherical of support operating out, lawmakers want to drag the nation again from the looming COVID-19 cliff earlier than it is too late.This is a have a look at these reduction invoice proposals — which incorporates second stimulus checks, enterprise loans and college spending — in addition to what might occur if Washington would not act rapidly.McConnell’s $1T proposalSenate Majority Chief Mitch McConnell is anticipated to roll out the GOP invoice as quickly as subsequent week, and a draft of the plan obtained by the Related Press gives a glimpse of what might be on the desk.McConnell hit “pause” on the passage of the final support package deal in May as Republicans hoped the economic system would rebound. Now, he acknowledges that extra intervention is required.”Regretfully, this isn’t over,” McConnell mentioned throughout a go to to a hospital in Kentucky.Listed below are some highlights from what’s anticipated in McConnell’s proposal, although Republicans are divided, and the White Home is already suggesting modifications:Second stimulus test McConnell’s plan would seemingly give one other spherical of $1,200 direct funds to People.Unemployment advantages Republicans wish to cut back the $600 weekly unemployment enhance that expires on the finish of the month to a couple hundred {dollars} a month. Moreover, they’re eyeing a return-to-work stipend for employees to get again on the job.Legal responsibility protect It is a five-year protect for employers that negligently expose clients and employees to the coronavirus, limiting their authorized publicity, based on the draft of the plan obtained by The Related Press. This could defend “faculties, faculties, charities, and companies that comply with public-health pointers, and for frontline medical employees.” Supporters say the proposal protects companies and different employers who adhere to public-health pointers in good religion. Opponents say it would allow wrongdoing to go unpunished.Colleges The invoice is anticipated to offer $50 to $75 billion for faculties, together with grants to little one care suppliers.Companies There’s more likely to be tax credit to assist corporations shoulder the price of safely reopening retailers, workplaces and different companies. To maintain prices down, Republicans are contemplating redirecting some already authorized funds from the favored Paycheck Safety Program of small enterprise loans for a revamped enterprise loan program.States and native governments It’s unclear how a lot cash Republicans are prepared to offer states and cities pushing the federal authorities for reduction.Coronavirus testing Republicans have remained largely silent on how a lot testing cash can be made accessible within the new invoice. McConnell mentioned Wednesday the federal government is “pursuing testing, therapy and vaccines just like the nation pursued the Manhattan Mission in World Conflict II.”Pelosi’s $3T billHouse Speaker Nancy Pelosi’s invoice, or the so-called HEROES Act, was authorized in May and consists of cash for COVID-19 testing, reopening faculties and helping cash-strapped states.The measure would give cash stipends to People, and bolster rental and mortgage and different security web protections.Listed below are a few of its highlights:Second stimulus test The Democrats’ plan would additionally give one other spherical of $1,200 direct funds to People.Further $600 for unemployment The Home invoice extends a $600 per week federal unemployment advantages supplemental fee via January 2021 as a substitute of reducing it off on the finish of July.Colleges The invoice offers $100 billion to states, faculty districts and universities to defray extra prices related to the pandemic.Personal medical health insurance The plan subsidies for laid-off employees to stay on their employer-provided medical health insurance plans via so-called COBRA advantages and creates an open enrollment interval to enroll in “Obamacare” insurance policies on state and federal medical health insurance exchanges.Housing The invoice allots $175 billion to states to assist renters and owners pay mortgages, hire, and different housing prices and keep away from default, with a lot of the cash geared toward lower-income folks.States and native governments The invoice gives greater than $900 billion to states ($500 billion), native governments ($375 billion), in addition to Indian tribes and territorial governments ($40 billion) to assist stop layoffs of public employees, cuts to companies or tax hikes.COVID-19 testing A further $75 billion can be allotted for testing for the coronavirus, performing contact tracing to trace its unfold and treating for COVID-19. This additionally provides one other $100 billion for hospitals and different well being care suppliers.”Time is operating out”Simply because the pandemic’s ferocious cycle is beginning once more, the primary spherical of support is operating out.Deadlines loom as the additional $600 weekly advantages supplied to tens of tens of millions of unemployed employees are set to run out July 31. So, too, does the federal ban on evictions on tens of millions of rental items.With 17 straight weeks of unemployment claims topping 1 million — often, it is about 200,000 — many households are going through a cash crunch and shedding employer-backed medical health insurance protection.”Time is operating out,” Pelosi mentioned.Former Federal Reserve leaders are urging Congress to do extra to assist the economic system cope with the devastating pandemic, akin to extending elevated unemployment advantages and offering help to hard-hit states and native governments, one thing many Republicans oppose.And Bank of America executives are already predicting the financial recession to final “deep into 2022.”In the present day, the loss of life toll stands at greater than 139,000 within the U.S., with 3.6 million-plus confirmed circumstances.The Related Press contributed to this report. Copyright © 2020 WTVD-TV. All Rights Reserved.
