GOP plan provides $1,200 in cash assistance amid coronavirus | TheHill - The Hill

A Senate GOP proposal for the third coronavirus package would provide $1,200 to Americans who make up to $75,000. 

The provision is included in a nearly 250-page bill unveiled by Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellFlorida Republican becomes first lawmaker to test positive for coronavirus On The Money: Senate sends coronavirus aid package to Trump | Lawmakers race to draft next stimulus | Stocks close with steep loses | Treasury offers guidance on deferring tax payments McConnell takes reins of third coronavirus bill MORE (R-Ky.) on Thursday. 

Setting the details of the cash assistance was spearheaded by Sen. Chuck GrassleyCharles (Chuck) Ernest GrassleyMcConnell takes reins of third coronavirus bill Senate GOP racing the clock to draft stimulus package Lawmakers welcome Treasury move to extend tax deadlines MORE (R-Iowa), the chairman of the Senate Finance Committee. 

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“Preventing the spread of the coronavirus will take a financial toll on individuals, families and businesses,” Grassley said in a statement. 

Under the GOP plan the amount of cash assistance would scale down between $75,000 and $99,000, when it would be phased out. It would also provide an additional $500 per child. 

The decision to include the cash assistance comes despite fierce GOP pushback from certain Republican senators, who argued that it would not stimulate the broader economy.

Some GOP senators wanted to instead expand unemployment insurance. 

“Here’s what I think. Direct payments make sense when the economy is beginning to start. It makes no sense now," Sen. Lindsey GrahamLindsey Olin GrahamSenate Republicans eye K income threshold for coronavirus checks Senate GOP racing the clock to draft stimulus package GOP divided on next steps for massive stimulus package MORE (R-S.C.) told reporters after the lunch, adding that the number under discussion is "all over the board." 

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Sen. Richard ShelbyRichard Craig ShelbySenate GOP racing the clock to draft stimulus package GOP divided on next steps for massive stimulus package McConnell wants GOP deal on third coronavirus bill before negotiating with Democrats MORE (R-Ala.) added that he believed the direct cash payments should be "as a supplement unemployment, not to the people that are still working every day, you know, just a blanket cash check to everybody in America that’s making up to $75,000.”

But the idea has picked up steam with Republicans and the Trump administration, with Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump signs coronavirus aid package with paid sick leave, free testing McConnell takes reins of third coronavirus bill GOP embraces big stimulus after years of decrying it MORE floating the idea of $1,000 checks to all Americans. 

Asked if he thought it would be in the bill despite the GOP opposition, Sen. Kevin CramerKevin John CramerOvernight Energy: Democratic lawmakers seek emissions reductions in airline bailout | House Dems warn Trump against oil industry bailout | GOP senators ask Saudis to stabilize oil market GOP senators ask Saudis to stabilize oil market Congress pours cold water on Trump's payroll tax cut MORE (R-N.D.) added, "I'd bet on it, if I was a betting person."   

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GOP plan provides $1,200 in cash assistance amid coronavirus | TheHill - The Hill
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