After days of interparty fighting and accusations, the Senate has come to an agreement on a two trillion dollar stimulus bill. It is the largest ever bill of this kind.
White House, Senate reach deal on massive $2 trillion coronavirus spending bill
The bill is also expected to include roughly $100 billion in assistance for hospitals; $350 billion in assistance to small businesses; $500 billion in aid for corporations, including airline companies and cruise lines, that have been hurt by the outbreak; and about $150 billion for state and local stimulus funds.
Unemployment insurance would also be significantly bolstered to increase payments and extend the benefit to those who typically do not qualify, such as gig economy workers, furloughed employees and freelancers.
McConnell introduced the Republican proposal Thursday evening, giving lawmakers less than a week to negotiate a deal, draft legislative text and schedule a vote.
Negotiations, however, came to a head over how much additional unemployment insurance should be extended, as well as aid for distressed corporations. Schumer said the initial Republican plan would not dedicate enough money to hospitals, and he called for a “Marshall Plan” for the health care system.