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House Democrats prepare new $2.4 trillion stimulus plan with unemployment aid, direct payments

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House Democrats are preparing a new, smaller coronavirus relief package expected to cost about $2.4 trillion as they try to forge ahead with talks with the Trump administration, a person familiar with the plans said Thursday.

The bill would include enhanced unemployment insurance, direct payments to Americans, Paycheck Protection Program small-business loan funding and aid to airlines, among other provisions, the person said. To reach the price tag, Democrats would chop roughly $1 trillion from their previous proposal for a fifth pandemic aid plan.

The party aims to restart stimulus negotiations with the White House after talks fell apart last month. House Speaker Nancy Pelosi has repeatedly pushed Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows to boost the administration’s roughly $1.3 trillion offer by another trillion dollars.

Pelosi directed Democratic committee chairs to draft legislation, according to Politico, which first reported on plans to craft another bill. The House could vote on a bill as soon as next week, but Democrats have not yet decided on a plan, the outlet reported.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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