GOP Unveils 'Targeted' New Stimulus Plan

The pared-back bill is said to likely include a $300-per-week unemployment benefit enhancement, $105 billion for schools, a $10 billion grant to the U.S. Postal Service, funding for the Paycheck Protection Program for small businesses, $45 billion to the Department of Health and Human Services for vaccines and testing needs, and liability protections for employers.

However, "another round of $1,200 checks to individuals — something that President Donald Trump wants — or any aid to state and local governments, a key demand of Democrats, won't be included," according to Bloomberg.

The GOP plan, Schumer and Pelosi said, "is laden with poison pills Republicans know Democrats would never support."

The "emaciated" GOP bill "is only intended to help vulnerable Republican Senators by giving them a 'check the box' vote to maintain the appearance that they're not held hostage by their extreme right-wing that doesn't want to spend a nickel to help people," Pelosi and Schumer said.

The GOP bill, the two top Democrats said, does not help state and local workers facing layoffs, feed hungry families, provide adequate funding for testing and treatment to fight the pandemic, assist renters, or help with "stopping the dismantling of the U.S. Postal system and making sure Americans can cast their ballots safely in fair elections this November."

— Related on ThinkAdvisor:

• 6 Economic Predictions for the Next 5 Years: Northern Trust, 2021
• Mnuchin Says Stimulus Hopes Aren't Dead; House Inquiry Flags PPP Loan Abuses
• How COVID-19 Is Affecting Future Social Security Recipients