Senate Majority Leader Mitch McConnell waited until a key component of U.S. coronavirus aid was about to expire before drafting the Republican version of the next major relief bill, a decision that is increasingly looking like a significant miscalculation.
Republicans crafting their own plan for a new U.S. virus-relief bill broadly endorsed a fresh round of stimulus checks to individuals, extended supplemental jobless benefits and more money for testing while voicing doubts over President Donald Trump’s desired payroll tax cut.
As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.
The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus.
The payments are one of the central provisions of the $2 trillion stimulus package awaiting a Senate vote.
Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.