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GOP Rolls Out $1 Trillion Coronavirus Relief Package

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Senate Republicans unveiled a roughly $1 Trillion Coronavirus Relief Package.  Next step: negotiations with the Democrats.  Here are some of proposals the GOP package includes:

  • $16 billion in new funds for coronavirus testing, $105 billion for schools, and a five-year shield from coronavirus-related lawsuits unless an entity — such as a business, school, or government agency — engaged in “gross negligence” or “intentional misconduct.”
  • A second round of stimulus checks that would give a payment to those making up to $75,000 a year. That amount scales down until it hits an income ceiling of $99,000, where it phases out altogether.
  • A transition to unemployment benefits that would match roughly 70 percent of an individual's previous wages.
  • For small businesses, another round of loans under the Paycheck Protection Program but requires businesses to have lost at least 50 percent of their revenue to be eligible. The revised program also would limit participation to firms with no more than 300 employees, compared with the 500-employee cap from earlier this year.

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