Senate Majority Leader Mitch McConnell (R-KY) announced he will release a separate stimulus proposal worth $500 billion, significantly lower than the deal Democrats and the White House are negotiating.
“We’re going to go back on the floor next week, again, with a proposal more narrowly targeted,” McConnell said at an event in Kentucky on Tuesday. “I want to give my friends on the other side one more chance to do highly-targeted relief that the country desperately needs.”
The new proposal includes funding for the Payroll Protection Program (PPP), extra unemployment benefits, money for schools, and liability protections for businesses. McConnell is expected to put the proposal for a vote after the Senate returns on October 19.
Soon after McConnell made his comments on the new targeted proposal, the president reiterated his support for a larger stimulus deal, tweeting “STIMULUS! Go big or go home!!!” on Tuesday.
The White House’s latest proposal is around $1.8 trillion, up from $1.6 trillion, and closer to the price tag of the Democrats’ latest $2.2 trillion stimulus proposal that passed the House in September.
McConnell’s new proposal has similar provisions to the one the GOP released in early September, which was worth $650 billion, but only $300 billion of that was new spending with the rest being repurposed money. The previous package was rejected in the Senate.
‘We cannot get an agreement just by folding’
House Speaker Nancy Pelosi