This past week, Democrats proposed a second version of the COVID-19 relief bill. Although the first round of payments are still being deposited, the second bill is projected to cost more than $3 trillion.
Similar to the direct payments made in March, the new relief bill, titled the “HEROES Act” will be voted on this Friday. With current U.S. unemployment numbers at a current 14.7 percent, the bill aims to help those affected by layoffs, along with state and local governments.
When asked about the bill, Speaker of the House Nancy Pelosi stated that “not acting is the most expensive course.”
What does the HEROES Act Propose for Individuals?
The bill encompasses a range of benefits, including a second direct payment to individuals and households – similar to that of the first bill, that gave up to $1200 a family. However, the cap is $6,000 a household.
Additionally, the bill proposes to carry over the improved unemployment benefit, currently at $600 a week until January 2021.
There is also a portion of the bill that will help households pay their rent and mortgage, along with utility bills.
What does the HEROES Act Propose for Local Governments and Businesses?
The relief bill includes funding to state and local governments. It also features “hazard pay” for essential workers like healthcare and public safety workers.
What does President Trump Think of the Bill?
Although he met with Senate Republicans earlier this week, President Trump has yet to comment.