The White House and Senate Republicans neared agreement on Thursday on a new economic rescue proposal that includes another round of stimulus payments to individuals, additional aid to small businesses and a partial extension of enhanced unemployment benefits, according to a summary of the agreement that was circulating on Capitol Hill.
It does not include a payroll tax cut, a favorite idea of President Trump’s, which administration officials backed away from amid tepid support from Republicans in Congress. It includes $16 billion in funds for new testing that the administration had opposed.
Republicans agree that they want to slash the jobless payments, which they argue discourage people from returning to work. But while Treasury Secretary Steven Mnuchin said in a television interview that they would seek to limit the new payments to 70 percent of a worker’s wages, the outline suggests the level could rise to 100 percent.
The summary also includes $26 billion for vaccine development and deployment, $20 billion in direct payments to farmers and a total of $105 billion for education, $30 billion of which would be reserved for institutions that reopen. source