Senate Coronavirus Stimulus Package Includes Direct Aid, Business Tax Relief

Senate Republicans released their “phase three” coronavirus economic stimulus package on Thursday in a follow-up to Wednesday’s package. The Senate passed an initial package on Wednesday, which originated in the House and included paid sick leave, unemployment benefits, free COVID-19 testing, and other food and medical aid. Thursday’s proposal puts stricter limits on who can use that paid leave and includes loans for small businesses of up to $10 million and a variety of tax cuts and adjustments for businesses. The bill also promises up to $1,200 in “recovery rebates” to individual Americans who made no more than $75,000 and $2,400 to joint filers who made no more than $150,000 as of their 2018 tax return. Democrats may negotiate to modify the deal, but it’ll likely have President Trump’s support.