Republicans in the White House and the U.S. Congress were in disarray over their own plan for providing $1 trillion in new coronavirus aid, as negotiations aimed at reaching a compromise bill with Democrats also sputtered
Senate Majority Leader Mitch McConnell speaks to news reporters following a series of meetings on efforts to pass new coronavirus aid legislation on Capitol Hill in Washington in Washington, U.S., July 28, 2020. REUTERS/Tom Brenner
The back-biting came as a $600-per-week enhanced coronavirus unemployment benefit was due to expire on Friday. The payment is on top of state jobless benefits that together help workers cope with the economic shock of the pandemic. Mnuchin left a late-afternoon meeting with House of Representatives Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer telling reporters, “We have a lot of work to do.” Their meetings were expected to continue on Wednesday.
The Republican proposal would also give many Americans direct payments of $1,200 each, provide billions in loans to small businesses and support hospitals. Some U.S. stocks dropped as investors worried about the negotiations in Congress and the resurgence in coronavirus cases. [.N]Many Republicans insist the expiring unemployment payout encourages Americans to stay home rather than go back to work by paying them more than their previous wages. Their proposal would provide a much-reduced weekly payment of $200 until states create a system to provide a 70% wage replacement for laid-off workers.“People want to work, Republican friends.
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