GOP expected to release coronavirus aid bill today: 7 things to know

Republican leaders are expected to unveil a coronavirus relief package in the afternoon of July 27, according to ABC News.

White House officials have also suggested pushing through a stopgap bill in case negotiations stall, according to The New York Times. 

Here are seven things to know:

1. The total cost of the aid bill is estimated to be around $1 trillion. 

2. The bill is also expected to allocate $16 billion more to expand coronavirus testing and tracing, according to ABC News. 

3. The bill would also include additional Paycheck Protection Program loans for businesses. Treasury Secretary Steven Mnuchin said that aid could go to companies where revenue has fallen by more than 50 percent, according to CNBC.

4. The new bill is expected to include a clause that would shield businesses, physicians and universities from coronavirus-related lawsuits, except in the cases of "intentional misconduct," according to CNBC.

5. The director of the U.S. National Economic Council, Larry Kudlow, said that a second $1,200 direct payment to most Americans is going to be included in the package, according to New York Magazine. 

6. In addition, the new relief bill is expected to provide laid-off workers up to 70 percent of their salaries, instead of a $600 weekly unemployment benefit, according to ABC News. 

7. Top Trump administration officials proposed Sunday a stopgap aid bill to extend federal unemployment benefits, according to The New York Times. The leaders proposed the narrower bill as a backup plan in case negotiations stall between Republican and Democratic leaders. White House Chief of Staff Mark Meadows and Mr. Mnuchin on July 26 suggested Congress could take an issue-by-issue approach to coronavirus relief, according to Politico. 

More articles on healthcare finance:
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Hospital margins could sink to a negative 7% this year: 5 things to know

 

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