The Senate, where Republicans have a narrow majority, is scheduled to have a vote on the proposal in the afternoon; the bill is likely to pass there, but the timeframe is not clear for a vote in the lower chamber, which is now on recess due to the coronavirus.
Senator Bernie Sanders, who is running for the Democratic presidential nomination, said he would oppose the bill unless the Republicans dropped their objections.
The Senate Wednesday evening passed a rescue package for the US economy that is the largest in the history of the nation.
Negotiations between the two parties and the White House seemed to hit a stall on Sunday when McConnell called a procedural vote on the bill - which the Senate Democrats voted against.
Trump urged Congress to quickly send him the bill, saying during a Wednesday press conference at the White House it would be "a great day for the American worker and for American families, and frankly for American companies". People making above that will receive a lesser amount on a sliding scale up to people who make $198,000 or more, who will not receive money. So, if you were laid off, your unemployment benefit will increase by $600 above what it otherwise would have been.
The measure also includes $150 billion for state and local authorities and another $130 billion to strengthen the nation's healthcare system, which in hotspots of the epidemic, such as New York City, is beginning to be overwhelmed. It will include gig workers, like those who drive Uber cars.
- That fund will include a number of transparency and oversight measures, including public disclosure of where the loan money goes, an inspector general to oversee the program, and a provision that high-level government officials can not benefit.
Republicans won inclusion of an "employee retention" tax credit that's estimated to provide $50 billion to companies who retain employees on payroll and cover 50% of workers' paychecks.
"Tomorrow we'll bring the bill to the floor". USA passenger and cargo airlines have sought $58 billion in government relief to help manage a financial blow that they say is worse than 9/11. Now, let me be very honest.
What if you make more than the thresholds?Qualifying families with children will receive $500 per child. So this does not do that.
The 500-page bill includes $500 billion for large corporations as the USA grapples with a major economic free fall putting it on the verge of a full-blown recession, as well as a $367 billion loan program for small businesses and $150 billion for assistance to state and local governments. Senator Sanders and other progressive critics are sounding the alarm over the corporate bailout portion of the bill and its limited oversight measures. According to Toomey, the Treasury will also make $46 billion in direct financial assistance, including $25 billion to airlines, $17 billion for national security and $4 billion for cargo. They spent all their cash rewarding themselves and their stockholders. They need - and expect - their government to act.