U.S. Republicans to propose smaller coronavirus stimulus bill: CNBC

Published 08/26/2020, 05:01 PM
Updated 08/26/2020, 05:35 PM
© Reuters. FILE PHOTO: Picture illustration of a test tube labelled with the coronavirus placed on U.S. dollar banknotes

(Reuters) - Republicans in the U.S. Congress are working on a narrow coronavirus stimulus bill that could be circulated to rank-and-file lawmakers as soon as this week, CNBC reported on Wednesday, citing sources.

For weeks now, Republicans and Democrats have been deadlocked over the size and shape of a fifth coronavirus-response bill, on top of the approximately $3 trillion already enacted into law.

Reuters has not confirmed the report. A spokesman for Senate Majority Leader Mitch McConnell, a Republican, had no comment.

In mid-May, the Democratic-controlled House of Representatives approved more than $3 trillion in additional aid to state and local governments, individuals, front-line medical workers and others in response to the coronavirus pandemic that has resulted in over 179,000 deaths in the United States alone.

McConnell responded earlier this month with a $1 trillion plan that focused largely on providing new limits on liability lawsuits for businesses and schools that reopen during the pandemic.

On Saturday, the House approved $25 billion in new aid for the U.S. Postal Service in a move that also would cancel a series of cost-cutting measures at the agency amid fears that they could hamper the delivery of mail-in ballots for the Nov. 3 presidential and congressional elections.

There has been speculation that the House bill could become a vehicle for approving a larger coronavirus bill if there was a bipartisan deal.

© Reuters. FILE PHOTO: Picture illustration of a test tube labelled with the coronavirus placed on U.S. dollar banknotes

Currently, Congress is on a summer break until after the Sept. 7 Labor Day holiday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.