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IPFS News Link • Economy - Economics USA

House Dems Introduce $3 Trillion COVID-19 Relief Bill; McConnell Slams As...

•, by Tyler Durden

House Speaker Nancy Pelosi (D-CA) will unveil the Democrats' latest attempt to 'never let a good crisis go to waste' on Tuesday.

According to CNBC, party leaders are set to vote on the more than 1,800 page package on Friday, as well as a plan to allow for proxy voting during the pandemic.

A summary via CNBC:

Nearly $1 trillion in relief or state and local governments 

A second round of direct payments of $1,200 per person, and up to $6,000 for a household

About $200 billion for hazard pay for essential workers who face heightened health risks during the crisis

$75 billion for coronavirus testing and contact tracing — a key effort to restart businesses

An extension of the $600 per week federal unemployment insurance benefit through January (the provision approved in March is set to expire after July)

$175 billion in rent, mortgage and utility assistance 

Subsidies and a special Affordable Care Act enrollment period to people who lose their employer-sponsored health coverage

More money for the Supplemental Nutrition Assistance Program, including a 15% increase in the maximum benefit

Measures designed to buoy small businesses and help them keep employees on payroll, such as $10 billion in emergency disaster assistance grants and a strengthened employee retention tax credit

Money for election safety during the pandemic and provisions to make voting by mail easier

Relief for the U.S. Postal Service