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New federal proposal leaves out the second round of checks for $ 1,200

Republicans are preparing to propose an economic stimulus package that is smaller than the initial proposal, and that would exclude the sending of a second round of checks for $ 1,200.

The middle CNBC He outlined that the new proposal would be only 500 billion. The continuity of proposals by Republicans and Democrats occurs due to a lack of consensus from both for what will be the aid package for the coronavirus.

According to the aforementioned media, the proposed bill that is being worked on and could be delivered this week, includes funds for unemployment. Some of the items are for COVID testing, small business payroll protection loans, unemployment insurance extension, and back-to-school funds.

Discord over $ 1,200 checks and weekly unemployment funds

Meanwhile, the areas in which the Democrats and Republicans differ in their negotiations are the checks to individuals of $ 1,200, and the renewal of the $ 600 weekly unemployment rate.

Republicans have been inclined to lower the weekly unemployment rate, claiming it discourages citizens from returning to work. For their part, Democrats have advocated that it be left at $ 600 per week, and that the check be increased to $ 1,200 for all individuals, including dependents, who under the Cares law received $ 500.

Given the failure of the negotiations, on August 6, the president of the United States, Donald Trump, signed several executive orders that provide funds for unemployment, with a cap of $ 400. Supplemental unemployment assistance funds, which expired in July, provided $ 600 a week to beneficiaries of unemployment insurance and the Pandemic Unemployment Program (PUA).

This order has generated controversy, since the states would have to contribute 25% of those funds

In addition, it approved the extension of deferred payments on student loans. This measure has already been put into effect by the federal Department of Education. This includes deferred payments until December 31, 2020.

The measure was implemented on August 21, and will grant three additional months of relief to students with loans. This suspends payments and maintains a 0% interest rate on student loans. eligible.

The deadlock for negotiations is expected to continue

“Today marks 103 days since the House took action to protect lives, livelihoods and the life of our democracy during this pandemic. How long should Americans wait for Leader McConnell to finally #FamiliesFirst and allow a vote? “said the spokeswoman of the federal House, Nancy Pelosi, in reference to the Heroes ACT, the bill of the Democrats.

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