Senate Majority Mitch McConnell unveiled the different financial aids under the new stimulus bill on Tuesday. He also assured that Senate will vote within this week.

Sen. Mitch McConnell
(Photo : Reutersconnect)

Senate has already returned, bringing good news to millions of Americans. Republican Senate Majority Leader Mitch McConnell introduced the new financial aids under the new proposed stimulus bill. McConnell termed the new financial aids as a "targeted bill."

The focus of the targeted bill is to deliver the most urgent needs of Americans and qualified individuals. Specifically, it targets healthcare, education, and economic issues. Once it is signed into law, it will allow states to continue the $300 weekly unemployment claim.

Moreover, it will also continue another round of Paycheck Protection Program loans for business, which are hardly-hit by the global pandemic. The program loan will also create broad liability protections for companies like putting back their employees on the payroll. 

The following are the breakdown of the new stimulus package, according to a recently published article in CNBC News:

  • $105 billion toward schools
  • $16 billion into Covid-19 testing
  • $31 billion toward the development of vaccines and beefing up the strategic national stockpile
  • $15 billion into childcare grants

Many wondered why the second round of $1,200 direct stimulus checks are not included in the newly proposed bill. It can be remembered that Pres. Trump urged Congress recently to release the unspent budget worth $300 billion under the CARES Act and use it for stimulus checks. 

Meanwhile, Latin Posts also reported recently that the $300 billion is more than enough to send $1,200 stimulus checks to 160 million Americans who claimed the stimulus checks during the first round. If Congress releases the amount, indeed, it will arrive immediately. 

Moreover, if Congress will not release the $300 billion, there is a possibility that Pres. Trump will sign another executive order diverting some federal agencies' unspent budget like what he did with the Federal Emergency Management Agency. 

However, there are speculations that the bill will not garner support in the Democratic-dominated Congress because they are pushing for a larger amount. But, it can also be remembered that around 100 Democratic Representatives wrote a letter to House Speaker Nancy Pelosi to consider the White House and Republican lawmakers' offer. 

In fact, the Democratic House Speaker agreed in a continuing resolution that allows the Americans to receive financial aids amid the impending government operations shut down in October. Suppose Congress will not support the new stimulus package of the Republican lawmakers. In that case, this also means that they are neglecting their duty to help millions of Americans suffering from the pandemic. 

Likewise, the efforts of the White House and Republican lawmakers will also become imperil. Pres. Trump has been pushing for another round of stimulus package while putting the Americans back to work and not to rely only on the weekly unemployment claims.

President Trump already said that he would immediately sign a bill related to the stimulus package to ensure that Americans and qualified individuals will receive the help they need aid the economic devastation of COVID-19. 

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