Centrist House Bi-partisan Stimulus Proposal
The Centrist Problem Solvers Caucus proposes $1.5 trillion. This is halfway between the reduced House proposal for $2.2 trillion and the President and Senate GOP initial $1 trillion proposal. The Senate GOP had recently reduced their offer to $650 billion.
What’s in it?
1. $120 billion for enhanced UI benefits. This includes $450 extra in weekly checks for 8 weeks and then $600 extra in weekly checks thru the end of January 2021, but not more than the individual’s wages before being laid off.
2. $280 billion in stimulus checks for individuals with AGI (adjusted gross income) of $75,000 or less. The checks would be $1200 for adults and $500 each for dependent children and dependent adults.
3. $500 billion for cash strapped state and local governments.
4. Small businesses would get $95 billion in new funding thru PPP and EIDL and $145 billion in existing unspent and repurposed dollars.
5. Schools would get $145 billion – including $100 billion for K-12, $30 billion for higher education and $15 billion for child care centers.
6. $100 billion would be allocated for Covid testing, tracing and telehealth.
Reference: https://www.vox.com/2020/9/16/21439089/problem-solvers-caucus-house-senate-stimulus-covid-19
Prepared by: Lucien Wulsin
Dated: 9/16/20