Double Click 728 x 90
Double Click 900 x 250

Republicans propose $1tn recovery plan to deal with economic damage


Komal FatimaWeb Editor

28th Jul, 2020. 12:04 pm
Double Click 160 x 600
Republicans propose $1tn recovery plan to deal with economic damage

US Republicans have proposed utilizing an additional $1tn (£776bn) to deal with the economic damage caused by coronavirus pandemic. 

According to the plan, around$100bn will be utilized for schools, and stimulus payments of up to $1,200 will be issued to most Americans.

The payment would replace a $600 boost to unemployment benefits during the pandemic. 

Senator Mitch McConnell said that Republicans wanted to observe how the ongoing programmes are working. But they have now presented a “tailored and targeted draft” to address the economic crisis resulted from the pandemic.

According to the international news agency, the $600 weekly unemployment benefit supplement would be decreased to $200 until states present a more targeted system that replaces 70% of a person’s previous wage.

Mr. McConnell said Republicans “want to continue” the unemployment supplement, which expires this week. “But we have to do it in a way that does not slow down reopening.”

Republicans explained about funding for schools and direct payments to families. They said that they want to consider legislation to shield businesses from workers’ coronavirus health claims.

Democrats leader Senator Chuck Schumer said that the proposal was “too little, too late”.

“This is a serious, serious crisis,” Mr. Schumer said. “We’re running out of time.”

He said the Republican plan amounted to a “30% pay cut” at a time when most workers do not have jobs to return to and switching to a new system will be near “impossible” for states to execute.

“It will delay benefits for weeks, if not months, as we slide into a greater degree of recession,”

“What we will not support is what they’re saying to essential workers: ‘You have to go to work because you’re essential, we place no responsibility on your employer to make that workplace safe and if you get sick you have no recourse because we’ve given your employer protection,'” Congresswoman Nancy Pelosi, the top Democrat in the House of Representatives, said in a recent television interview.

Double Click 300 x 250

Download BOL News App for latest news