News

U.S. bipartisan lawmakers propose $908 billion COVID-19 relief bill

3/3
© Reuters. Bipartisan members of the Senate and House announce coronavirus relief legislation framework at news conference on Capitol Hill in Washington

2/3

WASHINGTON (Reuters) – A bipartisan group of U.S. senators and members of the House of Representatives on Tuesday proposed a $908 billion COVID-19 relief bill that would fund measures through March 31, including $228 billion in additional paycheck protection program funds for hotels, restaurants and other small businesses.

State and local governments would receive direct aid under the bipartisan bill, the lawmakers said. Senator Mitt Romney, a Republican, said the plan contains $560 billion in “repurposed” funding from the CARES Act enacted in March.

The lawmakers, speaking to reporters, said they have not yet secured backing for their plan from the White House, Senate Majority Leader Mitch McConnell or House of Representatives Speaker Nancy Pelosi.

Their support would be essential for a compromise bill to advance in the House and Senate.

But it does contain provisions that Republicans have been pressing for: new liability protections for businesses and schools grappling with the coronavirus pandemic.

Pelosi and her Democrats would win a central demand: aid to state and local governments.

A compromise $300 per week in additional unemployment benefits would also be in the package, according to the lawmakers.

Pelosi and Treasury Secretary Steven Mnuchin were expected to discuss coronavirus aid and a must-pass government funding bill later on Tuesday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.




Source link

Related Articles

Back to top button