Bipartisan Lawmakers Propose $908B COVID Relief Bill

Washington—There is a new COVID-19 relief package on the table.

A bipartisan group of lawmakers introduced a $908 billion proposal Monday night, which has been split into two bills.

The first bill, dubbed the Bipartisan Emergency COVID Relief Act of 2020, is a $748 billion proposal that would include money for small business loans, unemployment benefits, education, transportation and the vaccine rollout.

Unemployment assistance would be extended for 16 weeks from the current expiration date of Dec. 26, with an additional $300 per week, as per a summary of the bill.

The Small Business Administration would receive $300 billion, including funds for another round of Paycheck Protection Program loans.

The loan forgiveness process would be simplified for those with PPP loans of $150,000 or less.

There would also be $25 billion for emergency rental assistance and an extension of the eviction moratorium, which is currently set to expire Dec. 31, through Jan. 31.

The second bill is a $160 billion proposal for state and local needs, called the Bipartisan State and Local Support and Small Business Protection Act of 2020.

The bill also includes short-term protection from pandemic-related lawsuits for employers, which has been a point of contention.

While Republicans have argued the protections would shield small businesses from lawsuits, Democrats counter that they could endanger workers.

States and local governments would receive $152 billion in aid through the Coronavirus Relief Fund, with one-third of that money being distributed based on each state’s population.

The remaining two-thirds would be allotted based on the proportion of each state’s revenue losses relative to the total revenue losses of all states.

Each state would receive a minimum of $500 million.

The remaining $8 billion in funding would go to tribal entities.

While the first bill is expected to find wide support, the second bill may not.

Senate Majority Leader Mitch McConnell (R-Ky.) has already called for the local spending and liability shield to be removed, as per Politico, and be addressed in another bill.

Pelosi and Treasury Secretary Steven Mnuchin have held talks about the new relief bill, according to her office.

Earlier this month, Pelosi rejected a $1.8 trillion stimulus offer from the White House, choosing to keep her focus on the Senate proposal.

While the rejected offer included another round of stimulus checks, albeit less unemployment assistance, the new bill does not.

The lack of direct stimulus checks is an issue for Sens. Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.), who want to at least vote on the idea.

“It would be a dereliction of duty if Congress adjourns for Christmas without having a vote on providing working families with direct payments,” said Hawley in a statement.