Coronavirus Aid Relief and Economic Security Act Unveiled

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Currents News Staff

More financial aid may soon be on the way. Senate Republicans unveiled the Coronavirus Aid Relief and Economic Security Act, a one-trillion dollar proposal that’s aimed to help those struggling financially due to the novel coronavirus pandemic.

“The widespread goal among all of us, both the White House and Senate Republicans is to get cash directly into the hands of the American people,” said Republican Senator Mitch McConnell, Senate majority leader.

The goal is to help those taking a financial hit from COVID-19.

“It’s a very stressful time for everyone,” explained bar owner Brett Allred. “Not only do you have to worry about not getting sick, but you also have to worry about if your bills are going to get paid.”

The Republican plan calls for “recovery rebates” of up to $1,200 for individuals and $2,400 for couples below a certain financial threshold.

Right now it’s just a proposal,and Senate Democrats say the plan is a non-starter and complain they weren’t part of the process.

“If we want to get this done quickly, the best way to do it is to have a four corners negotiation, House and Senate majority and minority,” Democratic Senator Chuck Schumer, Senate minority leader.

McConnell said bi-partisan talks were skipped to get things done faster.

“The Republicans are in the majority in the Senate. We wanted to put forward our proposal,” he said. “We feel like we have an obligation to do that as a majority and the Democrats, of course, need to be given an opportunity to react to it.”

Schumer and House Speaker Nancy Pelosi issued a statement March 19 saying the plan “puts corporations way ahead of workers.”

Jobless claims for last week rose to 281,000 Americans, a high not reached in two-and-a-half years.