GOP $1 Trillion Aid Package Promises Another Round Of Direct Payments, Help For Small Businesses
WASHINGTON (AP) — The price tag for the next COVID-19 aid package could quickly swell above $1 trillion as White House officials negotiate with Congress over money to reopen schools, prop up small businesses, boost virus testing and keep cash flowing to Americans while the virus crisis deepens in the U.S.
Senate Majority Leader Mitch McConnell on Tuesday promised a new round of direct payments to earners below a certain income level, similar to the $1,200 checks sent in the spring. President Donald Trump insists on a payroll tax holiday for workers. And Democrats want billions to outfit schools and shore up local governments.
"Regretfully, this is not over," McConnell said after a raucous private GOP lunch, urging Americans to learn to live with the new virus by wearing masks and practicing social distancing until a vaccine can be found.
Treasury Secretary Mnuchin and acting chief of staff Mark Meadows spent the day on Capitol Hill, meeting separately with McConnell, House Speaker Nancy Pelosi and others trying to broker a compromise between the GOP's emerging $1 trillion proposal with the House's more sweeping $3 trillion bill.
The lunch session grew heated as key Republican senators complained about big spending, vowing to stall the relief bill's passage.
Supporters of the package "should be ashamed of themselves" Sen. Rand Paul of Kentucky said as he emerged.
Paul compared GOP backers of the spending to "Bernie bros" — referring to the young supporters of Sen. Bernie Sanders of Vermont. "This is insane. ... There's no difference now between the two parties."
As a long line of senators rose to speak about aspects of the bill, Texas Sen. Ted Cruz asked his colleagues, "What in the hell are we doing?"
Cruz warned if the economy is still shut down come November, Joe Biden will win the White House, Democrats will control the Senate and "we'll be meeting in a much smaller lunch room," according to a person granted anonymity to discuss the closed-door session.
Sen. Rick Scott, of Florida left saying it's wrong to "bail out" cash-strapped states. "Florida taxpayers are not going to pay for New York's expenses," he said.
With the pandemic showing no signs of easing, officials acknowledge the daunting challenge of trying to contain the coronavirus and prevent further economic distress. The U.S. has rising infections and a death toll of 140,800, more than anywhere else in the world. The health crisis is worsening just as emergency aid is about to expire.
Meadows told reporters the president wants to ensure the funding package "meets the legitimate needs that are before the American people."
The Republicans are poised to roll out a $1 trillion package, what McConnell called a "starting point" in talks. It's a counter-offer to Pelosi's $3 trillion House-passed plan as they race to strike a deal by the end of the month. That's when a $600 weekly unemployment benefits boost and other aid, including a federal rental moratorium on millions of apartment units, expires.
McConnell's package wold send a fresh round of direct cash payments to Americans below a certain income level, likely $75,000 for singles, extend small business loans under the Paycheck Protection Program and create a five-year liability shield against what he warns is a potential "epidemic" of coronavirus lawsuits.
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