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Politics What's in Congress' $2 trillion coronavirus rescue package

16:15  25 march  2020
16:15  25 march  2020 Source:   msn.com

McConnell says Senate will pass House coronavirus bill without changes

  McConnell says Senate will pass House coronavirus bill without changes Senate Majority Leader Mitch McConnell (R-Ky.) said Tuesday the upper chamber will pass the House's second coronavirus funding package without changes.The decision comes despite some vocal GOP opposition to the measure over concerns about its impact on small businesses. "My counsel is to gag and vote for it anyway," McConnell said. The House bill provides up to 10 days of paid leave for some workers and bolsters unemployment insurance. TheThe decision comes despite some vocal GOP opposition to the measure over concerns about its impact on small businesses.

The massive stimulus package negotiated between the Trump administration and congressional leaders early Wednesday is an unprecedented $ 2 trillion aid package designed to help the public and the economy to rebound from the coronavirus pandemic.

A snapshot of the emerging rescue package in Congress to provide healthcare and economic aid amid the coronavirus outbreak and national shutdown. The details are subject to change as congressional leaders and the White House continue negotiating the nearly $ 2 trillion package .

 

  What's in Congress' $2 trillion coronavirus rescue package © Vladone / Getty  

The massive package negotiated between the Trump administration and congressional leaders early Wednesday is an unprecedented $2 trillion aid package designed to help the public and the economy to rebound from the coronavirus pandemic.

The bill provides direct help to citizens, businesses, hospitals and state and local governments. It needs to be passed by the Senate and the House. A Senate vote may come as soon as Wednesday.

Here are some of the provisions:

Big Businesses

About $500 billion can be used to back loans and assistance to companies, including $50 billion for loans to U.S. airlines, as well as state and local governments.

McConnell sets second coronavirus vote for shortly after markets open

  McConnell sets second coronavirus vote for shortly after markets open Senate Majority Leader Mitch McConnell (R-Ky.) will try again on Monday to advance a mammoth coronavirus stimulus package, setting the vote for shortly after the markets open. "Here's the way ahead, colleagues. We're going to vote at 9:45 in the morning, the same vote we had at 6 p.m. tonight. We're going to vote at 9:45 in the morning, 15 minutes after the markets open, and see whether there's a change of heart," McConnell said on Sunday"Here's the way ahead, colleagues. We're going to vote at 9:45 in the morning, the same vote we had at 6 p.m. tonight. We're going to vote at 9:45 in the morning, 15 minutes after the markets open, and see whether there's a change of heart," McConnell said on Sunday night.

What ' s in the historic, $ 2 trillion coronavirus relief package . The unprecedented economic rescue package would give direct payments to most Americans, expand unemployment benefits and provide a 7 billion program for small businesses to keep making payroll while workers are forced to stay

At issue is an unprecedented economic rescue package that would give direct payments to most Americans, expanded unemployment benefits, and a Tensions had flared Monday as Washington strained to respond to the worsening coronavirus outbreak, with Congress arguing over the huge

Small Businesses

More than $350 billion to aid small businesses.

Hospitals

A $150 billion boost for hospitals and other health-care providers for equipment and supplies.

Individuals

Direct payments to lower- and middle-income Americans of $1,200 for each adult, as well as $500 for each child. Senate Minority Leader Chuck Schumer said checks would be cut April 6.

Unemployed

Unemployment insurance extension to four months, bolstered by $600 weekly. Eligibility would be expanded to cover more workers.

Restrictions on Business Aid

Any company receiving a government loan would be subject to a ban on stock buybacks through the term of the loan plus one additional year. It also would have to limit executive bonuses and take steps to protect workers.

Transparency

The Treasury Department would have to disclose the terms of loans or other aid to companies, and a new Treasury inspector general would oversee the lending program.

Democrats won language that would bar any business owned by President Donald Trump or his family from getting loans from Treasury. Businesses owned by members of Congress, heads of executive departments and Vice President Mike Pence also would be blocked.


Lawmakers plead for more cash for local governments .
Democrats warn that less-populated regions will need a quick cash infusion.The group of lawmakers, led by Reps. Ben Ray Lujan (D-N.M.), Andy Levin (D-Mich.), Tom Malinowski (D-N.J.) and Joe Neguse (D-Col.), warned in a letter to Pelosi that less-populated regions will need a quick cash infusion to continue emergency services, after receiving no direct support in the last $2 trillion-plus package that was approved last week.

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