According to the latest proposed bill, the relief proposal will provide financial assistance to the American people until March 31 next year, including $228 billion in compensation security program relief, 160 billion in local government subsidies, 45 billion in transportation industry subsidies (including 17 billion in aviation compensation), and an additional $300 a week for the unemployed.
(source: social media)
Republican Senator Mitt Romney said the bill included $560 billion from the March relief bill, with an additional $348 billion needed.
Considering that the amount of this bill is much higher than the $500 billion relief proposed by McConnell before the election, but also significantly lower than the $2.2 trillion plan proposed by Pelosi, the top Democrat, whether it can get more extensive support is still uncertain. Mnuchin, the current treasury secretary who made a public statement earlier, said broadly that he had talked with trump, McConnell, McCarthy and meadows that they all agreed to a fiscal stimulus, and that he would speak to Pelosi later.
What is more ambiguous is that McConnell said publicly on Tuesday that we have no time to waste, and the epidemic relief bill needs to be carried out together with government funding. This statement was also interpreted by the media as shooting down the latest cross party proposal.
More significantly, President-elect Biden also said on Tuesday that his team had begun to prepare for financial relief, and that the relief bill was just the beginning..
Source of this article: Yang Bin, editor in charge of CFA_ NF4368