How Bipartisan Stimulus, McConnell Plans Stack Up: Side by Side
(Bloomberg) -- The bipartisan $908 billion stimulus proposal increasingly backed by both Democrats and Republicans as a basis for negotiations on a final 2020 Covid-19 relief package differs from a smaller-scale GOP plan in ways going beyond size.
A comparison of draft outlines of the two -- neither of which has been released in legislative form -- shows the bipartisan version has supplemental unemployment benefits above state unemployment insurance maximum levels as well as state and local aid. While Senate Majority Leader Mitch McConnell’s preferred plan leaves such items out, it does include tax breaks for restaurant meals, charitable giving and a proposal to develop critical mineral mining.
Both offer extended support for small businesses and funding for coronavirus vaccine distribution.
The following is a comparison of the two:
|Total||$908 billion||More than $510 billion|
|State and local government aid||$160 billion||None|
|Pandemic unemployment benefits||$180 billion (4 months PUC, 3 months PUA)||1 month PUA, PEUC only|
|Small business help||$288 billion||$332 billion|
|Individual stimulus checks||None||None|
|Other transport||$28 billion||None|
|Post Office||$10 billion||$10 billion|
|Liability relief||6 month moratorium on cases to give states time to legislate||Federal tort limits|
|Education||$82 billion||$105 billion|
|Vaccines||$16 billion||$31 billion|
|Child Care||$10 billion||$15 billion|
|Food and Farm||$26 billion||$20 billion farm aid|
|Hospital aid||$35 billion||None|
|Community lenders aid||$12 billion||None|
|Rental assistance||$25 billion||None|
With regard to unemployment benefits, the bipartisan plan would provide $300 per week in addition to state unemployment benefits for four months starting Dec. 1 under the Pandemic Unemployment Compensation (PUC) program. An extension of the Pandemic Emergency Unemployment Compensation (PEUC) for workers who have exhausted 13 weeks hasn’t been settled, but the Pandemic Unemployment Assistance (PUA) program is extended to April. 1. The McConnell plan does not have a supplemental PUC benefit but extends the PEUC and PUA programs for gig workers which expire Dec. 31 to Jan. 31.
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