Senate Majority Leader Mitch McConnell proposed direct payments of $1,200 per person and $2,400 for couples as part of an initial Republican response to the coronavirus outbreak.
The GOP leader unveiled his plan as Congress raced to craft a $1 trillion rescue package to shore up households, healthcare and the U.S. economy amid the pandemic crisis and nationwide shutdown that’s hurtling the country toward a likely recession.
“We need to take bold and swift action as soon as possible,” McConnell, announcing his plan on the Senate floor.
It’s an opening salvo in fast-track talks with Democrats as President Donald Trump urges Congress to “go big” to respond as Americans reel from the crisis.
Under the GOP leader’s plan, the aid would be phased out at income thresholds of $75,000 for individuals and $150,000 per couple. Additionally, there would be $500 payments for each child.
McConnell’s proposal aligns with the Trump administration’s push to swiftly send a first round of checks to American households for immediate needs.
Additionally, the McConnell plan would provide $300 billion in loans to small businesses, including loans that would eventually be forgiven for employers who use them to meet payroll expenses.