Millions of Americans have been hoping that a second round of stimulus would eventually be approved by the government, but now reports cite how Republicans may propose a new plan without coronavirus relief payments. The news comes as talks over a new stimulus package broke down between GOP leaders and top Democrats. CNBC now reports that Republicans may propose a bill that focuses on just the areas that the two side shave agreed on, including school funding and small business loans.
The new bill would also feature funding for coronavirus testing and vaccines, as well as enhanced unemployment benefits. However, those hoping for another stimulus payment to help with financial hardships caused by the pandemic would be out of luck, as this bill reportedly will not included a provision for those. The first stimulus bill, the CARES Act, gave Americans $1,200, with married couples receiving a collective payment of $2,400. It also provided $500 for dependents, up to a total of three. Democrats wanted to increase that amount to $1,200 for dependents with a new bill, but Republicans are resistant to that amount, and would rather keep it the same.
Republicans are working on a smaller coronavirus stimulus bill. https://t.co/AdLNVHnz5B— CNBC (@CNBC) August 27, 2020
Taxpayers have been concerned for some time that government leaders would push for a bill that does not include direct stimulus payments, even though many politicians — including President Donald Trump — have said that they want this. Previously, Vox reported that the reason Republicans have been taking so long to approve another payment is due to their concerns over the national debt. "The White House is trying to solve bad polling by agreeing to indefensibly bad debt," said Sen. Ben Sasse, a Republican from Nebraska. "This proposal is not targeted to fix precise problems — it's about Democrats and Trumpers competing to outspend each other."
It should also be noted that Federal Reserve Chair Jerome Powell has stated that concerns over the national debt are valid, but stated that "this is not the time to act on those concerns." Neil Newhouse, a Republican pollster, spoke with Vox about the GOP's worry over the national debt, and offered his professional perspective on the matter. "The concerns about adding to the deficit are far outweighed by the health concerns and economic concerns of Americans due to coronavirus," he said. "The challenge for Republican candidates seeking reelection is not the Republican base; it’s independents, it's moderates, it's swing voters and the furthest thing from their minds is running up the deficit." At this time, the reported bill has not been officially unveiled.