$3 Trillion Coronavirus Pandemic Relief Proposal By The House Democrats

The House Democrats presented a $3 trillion coronavirus pandemic relief to the House on Tuesday. The relief package is meant to serve as second-round support to provide financial aid to American citizens and struggling states. According to CNN, the House Republicans reacted to the proposal as “exorbitantly priced” and extreme response to the coronavirus crisis. It was instantly dismissed.

The proposed $3 trillion stimulus package would be the biggest emergency spending measure in the history of the US if it is approved. The $2 trillion stimulus package currently stands as the biggest emergency spending measure in US history.

Democrats insist that more money is required to keep the economy buoy as the rising coronavirus infection rates are alarming. The unemployment rate has also become a matter of concern as it is the worse so far, since the Great Depression.

The 1,815-paged proposal package will be taken up in a vote on Friday. There would also be a plan to accommodate voting by proxy due to the coronavirus crisis. House Speaker Nancy Pelosi said there was a “momentous opportunity” for Congress to meet the needs of the people. While the amount is being questioned, Pelosi is of the opinion that “not acting is the most expensive course” as the GOP continues to weaken from taxpayer spending.

If at all the plan escapes the House, it would definitely not escape the Senate. Until then, both the Republicans and Democrats can agree that another stimulus package is necessary, though it is not certain when a proposal for more relief would be signed.

Senate Majority Leader Mitch McConnell told CNBC reporters on Tuesday that in as much as the House would like to “move to another phase” it would be quite an issue to deliberate more on. “But what you’ve seen in the House is not something designed to deal with reality, but designed to deal with aspirations.”

The current bone of contention is that half of the House is considering passing relief for state and local governments, which could lead to a decline in payrolls and programs as more expenses are made and less revenue is generated during the pandemic. While the other half is opposing the GOP approach of granting small businesses liability protection as they reopen amid the pandemic.

The $3 trillion relief package can be summarized as thus:

• Roughly $1 trillion for state and local government support

• Second checks of $1,200 per person, and up to $6,000 per household

• Nearly $200 billion as hazard pay for essential workers who are more challenged with facing health risks

• $75 billion assigned to coronavirus testing and contact tracing

• An unemployment extension payment of $600 weekly, under the federal unemployment insurance benefit

• $175 billion assigned to rent, mortgage, and utility assistance

• Subsidies and a special CARES Act enrollment period to cover people who lose their health coverage employee benefits

• Extra funds for the Supplemental Nutrition Assistance Program, plus a 15% increase in the maximum benefit

• Provision to financially support small businesses that have been impacted by the coronavirus pandemic

• Funds for election, to set up safety measures that would make voting via mail easier.