Originally Posted by
kingcat
"The biggest sticking point between Democrats and Republicans throughout the negotiations was $500 billion worth of emergency loans both for large businesses and municipalities grappling with the coronavirus outbreak. For instance, $50 billion of that money was allotted to passenger airlines, according to the Washington Post.
Rather than trying to negotiate that figure down, Democrats instead negotiated to have strings attached to it. Instead of giving the Trump administration broad discretion to make the loans, Schumer and Pelosi said there will likely be a new inspector general in the Treasury Department specifically to oversee these funds, as well as a congressional oversight panel to examine how the money is being used"
"Direct payments to adults below a certain income threshold: The legislation would include a one-time $1,200 check that would be sent to most adults making $75,000 or less annually, according to past tax returns. A $500 payment would also be sent to cover every child in qualifying households. The final policy marks a significant change from the direct payments initially proposed by Republicans, which would have given less to many individuals who do not have taxable income. It now includes the majority of adults who are under the $75,000 threshold and phases the payment out as people’s incomes increase"
"Senate Minority Leader Chuck Schumer and White House Treasury Secretary Steven Mnuchin met six times on Monday alone, working until the early hours of the morning on Tuesday to hammer out a deal. In a statement, Schumer said he was pleased with the result.
“Rather than accept such a fundamentally flawed, partisan bill, Senate Democrats have been working hard on a bipartisan bill with Treasury Secretary Steven Mnuchin and President Trump,” Schumer said. “I am pleased to report that our hard work has paid off.”
The final product is so large in part because it contains both Republican and Democratic proposals: $500 billion in federal funding for big businesses and municipalities hit hard by the coronavirus outbreak, as well as a direct one-time cash payment to Americans and four months of expanded unemployment insurance"