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Data: Yahoo Finance; Chart: Andrew Witherspoon/Axios

Congressional aides tell Axios that the stimulus proposal put forth by Senate Majority Leader Mitch McConnell, which already has President Trump's seal of approval, would provide $15 billion in grants to independent performance venues and movie theaters.

Yes, but: The relief would only be available to companies with fewer than 500 full-time employees, about 60% of the movie theaters in the U.S.

  • A separate $908 billion proposal from a bipartisan group of lawmakers, which is still being negotiated, is expected to include similar language that would target its relief to smaller venues and theaters struggling to stay afloat.

Be smart: Stimulus talks are ongoing, and nothing is final.

The bottom line: There is little appetite among lawmakers to help large, publicly traded theaters, who have more access to capital than smaller venues.

  • For the major exhibitors not covered by the relief package, their fate hangs on the prospect of a vaccine. Despite vaccine hopes, theater stocks have tumbled lately in response to news that studios are planning more streaming releases.

Go deeper

Trump signs COVID relief bill, averting government shutdown

Photo: Doug Mills/Getty Images

President Trump signed a bill to extend unemployment benefits and avert a government shutdown, the White House said in an emailed statement Sunday evening.

Details: While Trump signed the current bill providing $600 checks for most Americans hours before a midnight government shutdown deadline, he is continuing his push to bring that amount to $2,000, as Axios reported earlier.

In cyber espionage, U.S. is both hunted and hunter

Illustration: Eniola Odetunde/Axios

American outrage over foreign cyber espionage, like Russia's SolarWinds hack, obscures the uncomfortable reality that the U.S. secretly does just the same thing to other countries.

Why it matters: Secrecy is often necessary in cyber spying to protect sources and methods, preserve strategic edges that may stem from purloined information, and prevent diplomatic incidents.

52 mins ago - Politics & Policy
Scoop

White House plots "full-court press" for $1.9 trillion relief plan

National Economic Council Director Brian Deese speaks during a White House news briefing. Photo: Alex Wong/Getty Images

The Biden White House is deploying top officials to get a wide ideological spectrum of lawmakers, governors and mayors on board with the president’s $1.9 trillion COVID relief proposal, according to people familiar with the matter.

Why it matters: The broad, choreographed effort shows just how crucially Biden views the stimulus to the nation's recovery and his own political success.