The next round of stimulus is in the works, with Senate Republicans releasing their proposal and Democrats meeting with White House officials yesterday, reports The Washington Post (subscription). Some highlights of the new proposal:
- Five-year COVID-19-related liability protections for businesses, health care providers and schools.
- $100 billion or more for the Paycheck Protection Program, which benefits small businesses.
- Another round of $1,200 checks for Americans and financial support for schools.
- A reduction in emergency employment benefits from $600 to $200 per week, until states can set up their own unemployment programs to pay 70% of income. (A reminder: the current benefits run out very soon.)
The NAM says: NAM Vice President of Government Relations Jordan Stoick points out some of the advantages of the plan for manufacturers:
- “Manufacturers were glad to see many of the priorities from our ‘American Renewal Action Plan’ included in this proposal, including targeted liability protections for manufacturers and other essential frontline businesses that have operated during the COVID-19 pandemic, and increased funding for the Paycheck Protection Program, which has provided critical liquidity for manufacturers.”
- “The proposal also includes more funding for testing as well as tax incentives for manufacturers that keep their employees on payroll during the COVID-19 pandemic and to help manufacturers invest in PPE and other safety measures to keep their facilities clean and their employees and customers safe.”
- “The NAM will remain fully engaged in the days ahead with members of the House and Senate to urge them to come together in a bipartisan way to finalize a plan that includes these important provisions.”