By Todd Lassa
House and Senate Republicans and Democrats are hard at work negotiating an interim, $908-billion relief package that would extend the Coronavirus Aid, Relief and Economic Security (CARES) Act past its December 26 expiration, through March 2021. Holding back Capitol Hill passage, which both chambers want as quickly as possible so everyone can go home for the Holidays, are issues of employee liability and aid to state and local governments.
Senate Majority Leader Mitch McConnell, R-Ky., seeks a moratorium on covid-related lawsuits through 2024 and wants to drop local and state aid for governments suffering severe shortages of tax revenues, while Sen. Mitt Romney, R-Utah, has proposed a liability shield for the current year, and Sen. Richard Durbin, D-Ill., has countered with a six-month liability moratorium for employers, The Wall Street Journal reported Wednesday.
As it currently stands, the bill as originated by the bi-partisan, bi-cameral Capitol Hill Problem Solvers caucus, would send $600 in relief checks to certain Americans and would supplement unemployment checks with an additional $300 per week, according to the Journal. Sen. Bernie Sanders, I-Vt., is fighting to double the relief checks to $1,200.
Meanwhile, the Trump administration has proposed a $916-billion bill that would include $320 billion for small businesses and $160 billion for state and local governments. No matter what happens, combined with the CARES Act from earlier this year, the federal government has suspended, if not reversed, nearly 40 years of supply-side economics with demand-side economics.
The Problem Solvers caucus, whose leaders include Sens. Romney, Joe Manchin III, D-WVa., and Susan Collins, R-Maine, developed the short-term package after the Nov. 3 election. Reps. Tom Reed, R-N.Y., and Josh Gottheimer, D-N.J., are co-chairs. Their bill includes $300 billion for small businesses, $180 billion for the additional unemployment benefits, $82 billion for schools, $16 billion for vaccine development, $10 billion for child care providers, a 15-percent boost in food stamp benefits, and $25 billion for rent assistance, with a moratorium on evictions through January 2021, according to The Wall Street Journal.
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