President Joe Biden might contemplate a pared-down stimulus proposal from a handful of Senate Republicans, who’re suggesting decreasing the quantity of a 3rd stimulus examine to $1,000 and limiting eligibility in order that fewer Individuals get any examine in any respect.
A gaggle of 10 reasonable GOP senators, led by Susan Collins (R-Maine), will meet with Biden on the White Home on Monday (Feb. 1) to debate their $618 billion plan, which they’re pitching as a option to achieve bipartisan assist for added stimulus reduction.
The proposal is one-third the dimensions of the Biden administration’s $1.9 trillion bundle and would scale back or eradicate a few of Biden’s key reduction measures, together with a 3rd stimulus examine.
In response to the New York Instances, the GOP invoice would supply $1,000 checks for people incomes as much as $40,000 per yr and households making as much as $80,000 per yr. These with incomes as much as $50,000 and $100,000, respectively, would obtain a prorated quantity.
“Let’s concentrate on those that are struggling,” Sen. Rob Portman (R-Ohio), a member of the reasonable group, stated on Sunday.
In distinction, Biden’s bigger bundle would ship $1,400 direct funds to people making lower than $75,000 and lower than $150,000.
If the identical standards as within the earlier two rounds of checks utilized, prorated checks would go to these with incomes as much as $103,000 and $206,000, respectively.
If Biden’s proposal had been to maneuver ahead, anybody who obtained a stimulus examine of as much as $600 within the wave of funds that went out after Christmas 2020 would additionally see some supplemental funding with the third stimulus examine.
The Republican bundle would eradicate Biden’s proposed federal minimum-wage improve to $15 per hour. Nonetheless, it might proceed the $300 supplemental unemployment profit, now set to run out in March, till June 30.
What’s subsequent for the third stimulus examine?
Senate Democrats have instructed that they are going to forge forward with the bigger reduction bundle with out GOP assist via a legislative course of known as reconciliation. This is able to permit them to cross Biden’s proposal with simply 50 votes, plus the vice chairman’s, reasonably than the 60 wanted to beat a filibuster.
Nonetheless, Biden has beforehand expressed hope for a bipartisan stimulus deal. The GOP group formulating this newest invoice contains 10 centrist senators — precisely the quantity wanted to keep away from a filibuster.
Some lawmakers are nonetheless pushing to maneuver elements of the $1.9 trillion plan ahead except Republicans comply with work with them.
“They need to negotiate with us, not make a take-it-or-leave-it supply,” Senate Majority Chief Chuck Schumer (D-New York) stated on Sunday.