Senate Majority Leader Mitch McConnell, a Republican from Kentucky, participates in a press conference primarily focusing on the Senate’s response to the coronavirus following the Republican weekly caucus luncheon in the U.S. Capitol in Washington, D.C., U.S., on Tuesday, March 17, 2020.
Sarah Silbiger | Bloomberg | Getty Images
As Republicans and Democrats forged ahead toward a deal on a massive economic stimulus proposal to combat the effects of the coronavirus pandemic, details of the developing proposal have started to emerge.
Senate Democrats struck down the bill in a procedural vote on Monday amid a gulf over what both parties wanted to include in it. But they made progress by Tuesday morning, as Senate Minority Leader Chuck Schumer, D-N.Y., said the sides were at “the 2-yard line.”
Here are some of the components of the plan, expected to cost well above $1.5 trillion, as it stood Tuesday morning, according to comments from congressional leaders compiled by NBC News and CNBC:
- Cash payments of up to $2,400 for married couples and $500 per child
- A $350 billion fund for small businesses to mitigate layoffs and support payroll
- $240 billion in health-care relief
- $75 billion in aid for hospitals
- $20 billion in aid for health care for veterans
- $20 billion in aid for emergency public transportation relief
- $10 billion in aid for airport relief
- $4.5 billion in aid for the Centers for Disease Control and Prevention
- Relief to airlines in the form of loans or grants, according to a Trump administration aide
- Strengthened unemployment insurance with up to four months of full pay to laid-off workers
- An inspector general to oversee the $500 billion pool of federal relief funding for ailing industries
Congress has rushed to approve a relief plan as the coronvirus pandemic overwhelms health-care resources, wreaks havoc on the U.S. economy and forces widespread layoffs.
Compounding the urgency, multiple lawmakers have tested positive for the coronavirus, also known as the COVID-19 virus, forcing others to quarantine and consider the prospect of voting remotely.
As lawmakers hash out a deal, President Donald Trump on Tuesday morning ramped up pressure on them to pass an agreement and provide economic relief. In a tweet, he said “the longer it takes, the harder it will be to start up our economy. Our workers will be hurt!”
The coronavirus, which is believed to have originated in Wuhan, China, has spread to dozens of countries, with more than 387,382 confirmed cases worldwide and at least 16,767 deaths so far, according to data from Johns Hopkins University. There are at least 46,500 cases in the United States and at least 590 deaths, according to the latest tallies.