Bipartisan Stimulus Plan Bipartisan Stimulus Plan

A Bipartisan Stimulus Plan Was Released yesterday. Will It work?

After weeks of deadlocked negotiations over the next relief bill, a bipartisan group of 50 House lawmakers has prepared a new proposal designed to iron out differences and restart negotiations between The GOP and the Blue party.

Hoping to restart interrupted talks and underscoring the need to return to voters with a material boost to COVID-19 relief, the House Problem Solvers Caucus on Tuesday presented a stimulus plan produced with input from both sides.

“Having seen no progress on a new COVID-19 relief package in four months, and in recognition of Americans’ increasing suffering, the Problem Solvers Caucus (PSC) has developed a comprehensive, bipartisan framework to meet the nation’s needs for the next 6-12 months, that can pass both chambers of Congress and be signed into law by the President,” the caucus said in a release.

The caucus’s proposal includes:

1) $1,200 direct payments to individuals, plus $500 per child and dependent adult, an issue on which Democrats, some Republicans, and the White House all agree,

2)  $450 per week in federal unemployment benefits for eight weeks, and then, for five weeks after that, replace lost wages up to $600 per week (with a cap to make sure the benefits don’t exceed lost income).

3)  $500 billion in state and local relief, in addition to on top of the $130 billion remaining from the CARES Act. This aid is a major priority for Democrats, though their proposal destined more money to it.

4) Additional Paycheck Protection Program funds with another $95 billion and reappropriates the remaining $145 billion from the first round of the program. 

5) $100 billion for virus testing and tracing and public health

6)  $25 billion for mortgage and rental assistance.

7) $130 billion for schools.

8) $15 billion for the Postal Service.

9)  $400 million for elections.

10) It would also extend the deadline for the 2020 Census and include expanded protections for workers along with liability protections for businesses and schools.

Though the proposal includes issues both sides have supported and seeks to compromise on many of the issues that have divided congressmen over the past weeks, it’s likely to face strong opposition in the Republican-led Senate, due to be the $1.5 trillion price tag, Politico reports.
 

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