US House Speaker Nancy Pelosi (D-CA) speaks about the 'Heroes Act', a proposal for the next phase of the COVID-19 relief legislation, on Capitol Hill in Washington, US.
Graeme Jennings/Pool via REUTERS

The latest COVID-19 relief proposal of the House Democrats revealed on Tuesday consists of over $3 trillion, in new expenditure, amounting to the largest and most expensive assistance package so far, to deal with the global pandemic.

Fox News just recently learned about this latest revelation. Of the more than $3 trillion stimulus package, according to some sources informed about the proposal, roughly $1 trillion would reportedly go to local, tribal, and state governments.

The HEROES Act

Based on the information gathered, one more round of "$1200 stimulus payments" would also be sent to most Americans who are under the plan," having an estimated amount of $6,000 maximum, for every household.

A flood of assistance, then, would be allotted for the struggling Americans. Such assistance would include an additional amount of $600 in weekly insurance for unemployment until January, pausing the payments for a student loan until September, and "creating a new $175 billion benefit" that would fund mortgage and rent payments for the Americans.

The House Democrats called the bill the HEROES Act. House Speaker Nancy Pelosi announced what the political experts and analysts consider as "the historic package," in a televised address she delivered on Tuesday from the capitol.

During her address, the house speaker announced the pandemic's statistics which has reached over 80,000 deaths in the US and 33 million Americans have lost their jobs and filed for unemployment since the beginning of the COVID-19 crisis.

Also, part of his address had Pelosi saying, "We must continue to empathize" with the families' pain, those who do not know where and how to get their next meal, she continued, and how to pay the rent for the next month.

Incidentally, the plan, reports said, calls for a new "Heroes' Fund" amounting to $200 billion, to guarantee that the essential workers who have put their safety and health at risk, to receive hazard pay while the pandemic is ongoing.

More so, the said bill has given a directive to the Occupational Safety and Health Administration (OSHA) to develop a new "work safety standards" for businesses.

Have the Dems Gone Big?

While the said considerably large stimulus package can help and support most Americans, price tag allegedly presents that the Democrats have gone big-or huge, instead, for the COVID-19 legislation's fifth round.

This, as observed by many who have knowledge on the issue, is a number sure to encounter serious doubt and suspicion from the lawmakers who are cost-conscious and have grown uncomfortable with the "historic pace of massive spending bill."

Essentially, the US Treasure already needed to borrow $3 trillion to finance the first four COVID-19 spending packages, said to have passed with two-party backing.

More so, even though Steven Mnuchin, the Treasury secretary said he is comfortable borrowing that ample amount of money due to historically low rates in interests, some Republicans are currently cool to more spending, particularly another worth of expenditure amounting to $3 trillion.

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