GOP rolls out $1-trillion relief plan amid coronavirus pandemic

The package was pulled together after days of negotiations between Senate Republicans and President Donald Trump's emissaries that didn't completely settle differences within the GOP

Donald Trump
The economic toll of the pandemic has undone the job gains of Trump's presidency and his administration has faced bipartisan criticism.
Bloomberg
1 min read Last Updated : Jul 29 2020 | 1:45 AM IST
Senate Republicans presented their $1 trillion plan to bolster the pandemic-ravaged US economy in a series of bills that would trim extra unemployment benefits, send $1,200 payments to most Americans and shield businesses, schools and other organizations from lawsuits stemming from coronavirus infections.

The package was pulled together after days of negotiations between Senate Republicans and President Donald Trump’s emissaries that didn’t completely settle differences within the GOP over the size and scope of additional federal spending in response to the pandemic. “We have one foot in the pandemic and one foot in the recovery,” Senate Majority Leader Mitch McConnell said Monday on the Senate floor, noting the rising death toll and a fragile economic recovery. “The American people need more help, they need it to be comprehensive, and they need it to be carefully tailored to this crossroads.”  The bill introductions were just the first step toward negotiating a compromise plan with Democrats, who’ve offered their own $3.5 trillion stimulus plan.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Donald TrumpJoe BidenUS presidential elections

Next Story