As recently reported by Fox News, “phase three” of the stimulus package was opposed by the Democrats and the GOP-controlled Senate failed to move forward accordingly. McConnell needed 60 votes to move forward on legislation, which required at least some Democratic support.
The stimulus package, worth $1.4 trillion, was intended to help families and businesses in need due to the economic downturn caused by the coronavirus pandemic.
Republicans and Democrats failed to iron out differences over the so-called “phase three.” Senate Majority Leader Mitch McConnell introduced the Coronavirus Aid, Relief, and Economic Security Act on Thursday, which calls for $1,200 direct payments to most individuals and an additional $500 per child.
The rebate checks would begin to phase out for individuals who earned over $75,000 in 2018 and couples who earned over $150,000, The Hill reported.
Senate Republicans want to put cash in the hands of the American people to help during this uniquely uncertain time. No tangled Washington process. No piles of forms for laid-off workers or families to fill out.
Money for people. From the middle class on down. Period. pic.twitter.com/cA2PKhmO80
— Leader McConnell (@senatemajldr) March 19, 2020
People who earned at least $2,500 in 2018 would get a minimum of $600. However, if you earn more, the amount received could be more. This is a means for compensating part-time workers.
Senate Minority Leader Chuck Schumer said, “There are many, many who have lost their jobs and one check when they may be out of their jobs for three, four, five months isn’t going to be enough. Unemployment insurance gives money the whole period of time the crisis exists at your present salary level and covers just about everyone.”
On the other hand, Senate Democrats have argued for expanding unemployment benefits in lieu of the direct payments to middle and lower-income Americans.
The CARES Act would deliver direct financial help. Senate Republicans want to put cash in Americans’ hands.
No tangled Washington process. No piles of forms for laid-off workers or families to fill out.
Money for hardworking families. From the middle class on down. Period. pic.twitter.com/kBXeAirqxr
— Leader McConnell (@senatemajldr) March 20, 2020