Senate Republicans unveil trillion dollar stimulus plan

The plan would provide $1,200 for individuals and $2,400 for couples in most cases.

Published: March 19, 2020 6:32pm

Updated: March 20, 2020 9:26am

Senate Republicans on Thursday unveiled the text of a $1 trillion relief bill that seeks to buoy individuals and businesses as they navigate the coronavirus crisis that has shaken the nation.

Some of the provisions included in the proposal would provide financial benefits to many Americans, postpone the tax filing deadline and provide loans for small businesses that could be eligible for forgiveness if the businesses follow criteria. Qualifying Americans could get $1,200 as individuals of $2,400 as couples.

Republicans will begin negotiating with Democratic legislators tomorrow, Senate Majority Leader Mitch McConnell said according to The Hill.

This legislation comes as voluntary and compelled business closures and restrictions sweep the nation and health experts repeatedly warn Americans to hunker down and practice social distancing, leading to concerns about how people and companies will weather the economic downturn.