Senate Majority Leader Mitch McConnell (R-KY) gave some preliminary information to the press Tuesday about the GOP version of the next coronavirus relief bill that will be presented to the full Senate soon.
Some specifics were presented in what was mostly a broad outline of what kinds of aid would be offered, with the main categories being jobs, health care, kids in school and liability protections.
“The majority will be laying down another historic proposal very soon,” McConnell said.
Some details about the plan were given, however.
Aid for schools, businesses, individuals
Schools would be given $105 billion under the GOP plan, but no specific details were offered about what the money would be used for.
Businesses would also get more benefits from the bill, including reimbursement for protective equipment and structural modifications made to meet safety requirements amid the pandemic. More Paycheck Protection Program loans will also be funded through the bill.
“The American job market needs another shot of adrenaline. Senate Republicans are laser-focused on getting American workers their jobs back,” McConnell said, according to The Hill.
Stimulus checks will be part of the bill, McConnell said, but didn’t elaborate on the amount or who would be eligible. While some in the GOP have said the direct payments should be about the same as the last round and only go to people making $40,000 or less annually, others including President Donald Trump have said that the checks should be bigger and should go to those making at least $75,000 or less per year.
Deeper in debt
The GOP bill has a price tag of around $1 trillion, The Hill reported, as opposed to the House’s already-passed $3 trillion monstrosity that Senate Republicans declared dead on arrival last month.
With the U.S. government already in debt, the new relief bill will be funded through even more debt or by printing the money, which ultimately risks hurting the value of the dollar for everyone.
While it has become expected for the government to offer help to those struggling because of coronavirus-related shutdowns that are no fault of their own, the impulse on the part of the government to fix all the problems caused by the virus has led to more socialist-like spending habits, at least in the short term.
At some point, the U.S. may just run out of “other people’s money” to spend, and then what will happen? When $1 trillion in additional aid after $3 trillion over the last 3 months seems like an austere plan, the Overton Window has already been moved very far to the left indeed.