Factbox: Biden's COVID-19 relief plan vs. Senate Republicans counter-proposal

Posted on

(Reuters) – U.S. President Joe Biden has proposed a $1.9 trillion package to fight the coronavirus and help those affected by it. A group of 10 Senate Republicans has proposed a smaller $600 billion package.

FILE PHOTO: U.S. President Joe Biden visits a coronavirus disease (COVID-19) vaccination site during a visit to Walter Reed National Military Medical Center in Bethesda, Maryland, U.S., January 29, 2021. REUTERS/ Kevin Lamarque/File Photo/File Photo

Here is how the two plans compare:

PUBLIC HEALTH

Biden’s plan calls for a national vaccination program, more rapid testing and additional medical equipment. It also would hire 100,000 new public-health workers to help with contact tracing and vaccine outreach. Cost: $160 billion

The Republican plan would also set up a national vaccination program, expand testing and equipment, and reimburse hospitals and other medical providers. Cost: $160 billion

UNEMPLOYMENT INSURANCE

Biden has called for an additional $400 per week in unemployment benefits through September. Cost: $350 billion

The Republicans have proposed an additional $300 per week in unemployment benefits through June 30. Cost: $130 billion

DIRECT PAYMENTS

Biden is seeking a third round of direct payments of up to $1,400 per person, though details remain unclear. Cost: $465 billion

Republicans are proposing an additional $1,000 per person, with an additional $500 for children and other dependents. Benefits would be targeted at people who earn less than $50,000 per year or families that earn less than $100,000. Cost: $220 billion

AID TO STATE AND LOCAL GOVERNMENTS

Biden: $350 billion

Republicans: None

SCHOOLS

Biden: $130 billion to help K-12 reopen; $35 billion for higher education

Republicans: $20 billion for K-12; nothing for higher education

SMALL BUSINESS

Biden: $15 billion in small business grants; $35 billion in low-interest loans

Republicans: $50 billion for low-interest loans

CHILD CARE

Biden: Expand tax credits to help families cover up to $3,600 in child-care costs, at a cost of $120 billion; provide $25 billion for child care providers and $15 billion in block grants

Republicans: $20 billion in block grants

RENTAL ASSISTANCE

Biden: Extend a foreclosure moratorium until Sept. 30; provide an additional $30 billion in rental and utility-bill aid; $5 billion in housing for the homeless

Republicans: None

PAID LEAVE

Biden would require companies and the federal government to offer paid leave for workers concerned about the coronavirus and cover the cost for small and medium-sized businesses.

FOOD ASSISTANCE

Biden: Expand the Supplemental Nutrition Assistance Program, commonly known as “food stamps”, and expand aid for women and children. Cost: Not publicized

Republicans: Similar provisions. Cost: $12 billion

MISCELLANEOUS

Biden: Raise the minimum wage to $15 per hour; $4 billion for mental health and substance abuse services; $20 billion for veterans’ health; health-insurance subsidies; $20 billion for public transit; $20 billion for American Indian tribes; $10 billion for cyber defense programs

Republicans: $4 billion for mental-health and substance abuse services

Source: Read Full Article

Markets