Bipartisan group of lawmakers unveils $908 billion COVID stimulus proposal
A bipartisan group of lawmakers on Tuesday proposed a $908 billion coronavirus stimulus package, in one of the few concrete steps toward COVID relief made by Congress in several months.
Why it matters: Recent data shows that the economic recovery is floundering as coronavirus cases surge and hospitals threaten to be overwhelmed heading into what is likely to be a grim winter.
- First-time unemployment applications rose again over the Thanksgiving holiday, and 26 million Americans in late October and early November said they didn't have enough food.
Timing: The framework drops hours before Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi plan to discuss coronavirus relief — their first talks since October.
The big picture: Most lawmakers still see only a small chance for passage of a comprehensive relief package before the end of the year, given how far apart Republicans and Democrats remain on key priorities.
- President-elect Joe Biden has said that he wants Congress to pass coronavirus relief before he takes office in January.
- Senate majority leader Mitch McConnell said Tuesday McConnell said he has been talking to House minority leader Kevin McCarthy, Mnuchin and chief of staff Mark Meadows about a COVID relief bill that could gain Trump's support.
Breakdown of the proposed funding:
- State and local: $160 billion
- Additional unemployment insurance: $180 billion
- Small business Paycheck Protection Program (PPP), EIDL and restaurants: $288 billion
- Transportation: $45 billion
- Vaccine development, distribution and testing: $16 billion
- Healthcare provider relief fund: $35 billion
- Education: $82 billion
- Student loans: $4 billion
- Housing assistance: $25 billion
- Nutrition/Agriculture: $26 billion
- U.S. Postal Service: $10 billion
- Child care: $10 billion
- Broadband: $10 billion
- Opioid treatment: $5 billion
The plan also provides short-term federal protection from coronavirus-related lawsuits.
Read the framework via DocumentCloud.
This post has been updated with comments from Mitch McConnell.