Washington, D.C. – House Democrats and Senate Republicans are working towards proposals for relief for Americans. The American economy is struggling and job layoffs are mounting amid mandatory closure of businesses. As Congress and the President know, something will need to be done, but ideas for ways to address it are differing.
Senate Republicans released a $1 trillion coronavirus package on Thursday. The package includes cash payments to taxpayers of $1200 per adult, which is phased out at $99,000 annual salary. There is also a payment of $500 per child. Earlier conversations revolved around two potential payments to families, but this did not appear in the final bill. The plan also includes small business loans, corporate tax cuts and other measures.
Senate Majority Leader Mitch McConnell says that deliberation will begin on Friday morning between Senate Republicans and Democrats. Democrats have spoke out against the proposal saying they had no hand in drafting it. They prefer a package that includes paid family leave, paid sick leave and unemployment insurance. Democrats want restrictions to the measures for businesses as well. They want restrictions that funds received cannot be used for corporate bonuses or stock buybacks.
House Democrats agree that a different package is needed. In fact, House Democrats do not feel it goes far enough. Initial suggestions called for infrastructure spending, election changes for mail in elections and expanded social security benefits. Other Democrats have suggested that incentives be given for research into treatments for businesses, knowing there would be no profits for this research for the business. While the Republican bill included benefits for the travel industry, Democrats indicate this may not be in their final plan.
Details are still limited on the Democrats plan as they have not publicly released any specifics. More details will likely emerge in the coming days as deliberations take place. Pressure is on Congress to address this quickly, but potential negotiations between the parties could slow down the progress.
Across social media, reviews of the GOP plan were mixed. Many on the right called the measures unprecedented and sweeping, but many on the left argued that the measure excludes too many low income people. The GOP proposal does limit funds available to those who had no tax liabilities, but had earnings of at least $2,500. Some have argued that this does not give the appropriate funds to those lower income earners who need it.
It does not appear there is a quick fix for the concerns with the US economy. The range of proposals are sweeping and no doubt multiple areas will need to be addressed. Any bill will be the third in multiple proposals to combat the coronavirus, or COVID-19.
You can contact JD through The Liberty Loft’s website or by Twitter. Please consider donating to support The Liberty Loft so we can continue to deliver the content you find here.