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Senate Republicans introduce trillion-dollar coronavirus package

Source: politico.com - Mar 19, 2020

Senate Majority Leader Mitch McConnell introduced the text of the Republicans’ trillion-dollar proposal for the so-called “Phase 3” coronavirus stimulus package, paving the way for negotiations with Democrats to formally begin.

The centerpiece of the Senate Republican proposal -- crafted with support from the White House -- is direct payments to qualified Americans of up to $1,200. Married couples could get $2,400. Taxpayers who earn more than $75,000 annually will begin to see payments reduced by $5 for every $100 they earn over the $75,000 threshold, with those who make more than $99,000 getting nothing. Families with children would get $500 per child.

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Category: General Business