Senate Republicans unveil $1 trillion economic stimulus package to address coronavirus fallout

Washington CNN — Senate Republicans on Thursday formally rolled out a $1 trillion economic stimulus plan intended to deliver critical aid to US businesses and the American public. Senate Majority Leader Mitch McConnell called the plan “a bold legislative proposal” in remarks on the Senate floor, saying that he was “officially introducing the Coronavirus Aid, Relief and Economic Security Act.” The Kentucky Republican described the major contours of the proposal by saying that it will deliver “direct financial help for the American people,” as well as “rapid relief for small businesses and their employees.” He said that the plan includes “significant steps to stabilize our economy and protect jobs” and “more support for the brave health care professionals and their patients who are fighting the coronavirus on the front lines.” But in a sign that hard-fought negotiations are still to come, the Democratic leaders of the House and Senate released a brief statement Thursday night criticizing the plan. Schumer said on Thursday that because Republicans did not involve Democrats from the start the way they had called for he was concerned that would “prolong the length of time before we act.” He said, however, that Senate Democrats “look forward to working with them to come up with a bipartisan product as soon as we can as this crisis grows worse every day.” Key Senate Republicans disagree with cash payments to Americans Underscoring the challenge that lies ahead, Senate Republicans are not completely unified over what to include in the economic stimulus. Despite the disagreement over one of the pillars of Trump’s $1 trillion economic stimulus program, the cash payments were part of a Senate Republican proposal released Thursday. “There’s some disagreement on direct payment checks versus unemployment insurance, versus what a good lending program would look like,” he said.