Bipartisan lawmakers unveil detailed $908B coronavirus relief plan
A bipartisan group of lawmakers on Wednesday released a detailed outline of their $908 billion coronavirus stimulus proposal, according to a copy of the draft legislation obtained by Axios.
Details: The proposal includes an extension of enhanced unemployment insurance benefits by 16 weeks, but it does not include provisions on direct payments to individuals, increased funding for state and local governments, or detailed language on liability protections — some of the most disputed aspects under negotiation by both parties.
- On liability protections — a top priority for Republicans — the proposal says there is "An agreement in principle as the basis for good faith negotiations."
Timing: The outline comes hours after Treasury Secretary Steven Mnuchin announced a $916 billion White House plan.
- The White House version severely cuts the extended unemployment benefits negotiated by the bipartisan group, but does includes $600 stimulus checks as well as additional funding for state and local governments and a liability shield for businesses.
- Mnuchin pitched the plan to House Speaker Nancy Pelosi and Republican leadership on Tuesday.
- Pelosi and Senate Minority Leader Chuck Schumer immediately rejected the plan as insufficient, while Senate Majority Leader Mitch McConnell and House Republican Leader Kevin McCarthy signaled their support.
What they're saying: McConnell criticized Democrats on Wednesday for trying to "kill any compromise" on a stimulus deal after Pelosi and Schumer rejected two Republican proposals yesterday.
- But the Democratic leaders say they do support the $908 billion bipartisan deal.