Pelosi Unveils $3 Trillion Coronavirus Relief Bill

Countries are carrying out more testing in a bid to track the rate of infections

Countries are carrying out more testing in a bid to track the rate of infections

As The Inquisitr wrote, House Speaker Nancy Pelosi is looking to "go big" with the next proposal and could have some support for an idea to give Americans a $2,000 monthly payment for the duration of the crisis. "We intend to use those low interest rates to bolster the American people". "We have a big need".

The Democratic-led House, which is on recess, will return to Washington, D.C., Friday to approve the legislation. John Thune of South Dakota, the second-ranking Republican in the Senate.

Republicans have signaled they have no interest in enacting a new coronavirus response bill anytime soon, meaning passage of a law could be weeks away, despite mounting unemployment and mortality figures.

The so-called Heroes Act from Democrats is built around almost $1 trillion for states, cities and tribal governments to avert layoffs, focused chiefly on $375 billion for smaller suburban and rural municipalities largely left out of earlier bills. Of that amount, $500 billion would go towards states.

If the bill is passed, it would become the biggest emergency spending measure in USA history, topping the $2 trillion economic stimulus package passed in March that included a first round of $1,200 direct payments.

Extends a $600 per week federal unemployment benefits supplemental payment through January, 2021, instead of cutting it off at the end of July. The current extension is set to expire in July.

There are other new resources, including $25 billion for the U.S. Postal Service.

The bill will also establish a $200 billion "Heroes Fund" for essential frontline workers, ensuring those workers who risked their lives throughout the pandemic receive hazard pay.

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Provides $75 billion on top of earlier outlays to test for the coronavirus, perform contact tracing to track its spread, and treatment for COVID-19.

It also provides $3.6 billion for "contingency planning, preparation, and resilience of elections for Federal office".

The Paycheck Protection Program would be expanded "to ensure it reaches underserved communities" by providing $10 billion in COVID-19 emergency grants.

"To those who would suggest a pause, I would say the hunger doesn't take a pause, the rent doesn't take a pause", Pelosi said late Monday on MSNBC.

But these have reportedly been met with a tepid response by Democrats as they seek to do even more with the next round of relief.

This latest bill, if it passes both chambers of Congress, would become the largest, most expensive spending package in USA history - trumping the $2.2 trillion measure Congress passed in March. Republicans including Senate Majority Leader Mitch McConnell (R., Kent.) have made clear their opposition to further rounds of spending without congressional debate.

"We're going to insist on doing narrowly targeted legislation -- if and when we do legislate again and we may well - that addresses the problems, the needs and not the aspirations of the Democrat majority in the House", McConnell told reporters Tuesday during his weekly press conference. "As a country we must stay focused on reopening safely, enabling American society to rise up again and drive the economic recovery", Romina Boccia, a budget scholar at the Heritage Foundation, said in a statement.

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