Bipartisan Group of Senators Unveil Stimulus Proposal

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Bipartisan Group of Senators Unveil Stimulus Proposal

A bipartisan group of senators on Tuesday unveiled a $900 billion compromise stimulus measure to last until March. It would restore federal unemployment benefits that lapsed over the summer, delivering additional economic relief to Americans as coronavirus cases surge.

“As we deal with the second wave or third wave of this pandemic, it is absolutely essential that we pass emergency relief.” “In this package we have allocated $11 billion for investments in C.D.F.I.s, M.D.I.s and other institutions that will lend to these underserved communities, and that will have a good short-term and long term effect. So while this perhaps will offend some folks on both sides, we think it is a good framework, and we are all committed to doing what it takes to get it done.” “Covid has created a crisis, and in a crisis the people expect Congress to act. And this group has come together to propose action that could respond to this crisis. We’ve got people unemployed. We’ve got businesses shutting down. We’ve got states and localities getting ready for layoffs of large numbers of people. It’s simply unacceptable for us not to respond to help in this circumstance.” “We’re not putting blame anywhere. Basically, we know that they all have — there’s much need out there and needs been identified by so many different organizations, from all economists to every organizations, put something out there. We’ve hit a spot where we know that can give us emergency relief. That’s all this is about — emergency relief going through the first quarter, which ends on April 1. President-elect Biden will be coming in. He’ll be able to determine if there’s more that needs to be done. This is an emergency that gets us through from this holiday season. People that are losing in December. And we just can’t leave without that being addressed.”

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