Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
House Speaker Nancy Pelosi (D-Calif.) Photo: Liz Lynch/Getty Images
Speaker Nancy Pelosi (D-Calif.) on Monday unveiled House Democrats' new $2.2 trillion coronavirus relief proposal.
Why it matters: Negotiations with the Trump administration have stalled since the House passed its $3 trillion HEROES Act in May. The pared-down bill, which is $200 billion smaller than Democrats' most recent proposal, is part of Pelosi's last-ditch effort to strike a deal with the White House.
- The updated proposal includes funding for schools, small businesses, restaurants, airline workers and more, and "serves as our proffer to Republicans to come to negotiations to address the health and economic catastrophe in our country," Pelosi said in a statement.
- The proposal was unveiled minutes before Pelosi was set to have a call with Treasury Secretary Steve Mnuchin. The two top negotiators agreed to speak again on Tuesday morning, according to a top Pelosi aide.
Details: Among other measures, the bill earmarks $75 billion in funding for coronavirus testing contact tracing and isolation measures, "with special attention to the disparities facing communities of color."
- The bill updates the Paycheck Protection Program "to serve the smallest businesses and struggling non-profits, providing hard-hit businesses with second loans, and delivering targeted assistance for the struggling restaurant industry and independent live venue operators."
- It also includes a second round of $1,200 payments per taxpayer and $500 per dependent, while extending weekly $600 federal unemployment payments through January.
- It provides $436 billion for a year’s worth of help to state, local, territorial and tribal governments to pay first responders and health workers.
What to watch: Pelosi has frequently said that Democrats would be willing to drop $1 trillion from the HEROES Act if Republicans would come up $1 trillion. In July, Senate Majority Leader Mitch McConnell proposed a roughly $1 trillion bill that was dismissed by Democrats as a "half-hearted, half-baked legislative proposal."
- "Democrats are making good on our promise to compromise with this updated bill," Pelosi wrote.
Editor's note: This story has been corrected to show that the new bill is $200 billion less than the previous Democratic proposal.