The Republican version of a new pandemic economic stimulus package should arrive next week, according to reports, as Republican Senate and White House leaders claim to have reached an agreement on what they will propose on Monday.
The $ 600 federal unemployment benefit ends tomorrow, leaving millions of unemployed people trusting in their state benefits, even as an increase in new coronavirus cases has shut down many companies that have reopened and kept others closed since March.
Democrats approved their own aid package in the House in May. Now, the two sides will attempt the difficult task of reaching a compromise on what will be in the final version of the bill.
The Republican version of this second stimulus reportedly offers federal unemployment based on about 70 percent of salary replacement, according to Treasury Secretary Steve Mnuchin. Previous reports indicate that means benefits of between $ 200 and $ 400, while Democrats are advocating that the $ 600 level be maintained.
How long the federal extension will be in effect is unknown and will likely be a hot spot. But Senate Majority Leader Mitch McDonnell described it earlier this week as “temporary.” It is likely to last at least until December, according to reports.
