House Dems Propose $3 Trillion Relief Package

House Democrats unveiled a $3 trillion spending package for more coronavirus aid on Tuesday (May 12), including more money for individuals affected by the shutdown, according to CNBC.

Republicans, who have been resistant to spending more on stimulus packages, are not likely to go along with the plan (See the fact sheet).

House Speaker Nancy Pelosi called the 1,800-page plan a “momentous opportunity” to meet the needs of the American people. It would allot almost $1 trillion for state and local governments, more payments of $1,200 per person and up to $6,000 per household, and around $200 billion for hazard pay for essential workers (outline of the bill, total package).

The plan would include $75 billion for coronavirus testing, more money for increased unemployment insurance, and $175 billion in rent, mortgage and utility assistance. It would allot subsidies and a special Affordable Care Act enrollment period for those who lost their health insurance with their jobs, funding to help businesses retain employees on payroll, and funding for the lagging Post Office.

The Post Office has, in recent days, been the target of Republican ire as President Donald Trump and other top officials refuse to fund more, according to The New York Times.

The plan was met with derision by Senate Majority Leader Mitch McConnell, who has favored more funding for liability protections for businesses reopening during the pandemic.

McConnell said the Democrats’ plan was “not something designed to deal with reality, but designed to deal with aspirations,” according to CNBC. He added that he would be ready to deal with Democrats once there is a unanimous decision with the Trump administration to move forward.

Trump, for his part, has said he isn’t in a rush to get any other legislation passed right now.

The Democrats, in their defenses of widely expanded provisions across the U.S. for more relief, have evoked the specters of America’s past by talking about the Great Depression.


New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.