A Network of the National Association of State Treasurers
Policy Update:

Senators Release $600B COVID-19 Proposal

Senator Susan Collins (R-ME) and GOP colleagues at a press event after discussing their COVID-19 stimulus proposal with President Biden at the White House. Source: Washington Post Screenshot
Brian Egan, Policy Director, NAST

This morning, a group of 10 Republican Senators released a smaller COVID-19 stimulus package to respond to President Biden’s request for $1.9 trillion in additional stimulus. The revised package would cost $600 billion, and its announcement follows a letter the group sent to President Biden urging him to work across the aisle on COVID-19 response measures. 

Notably, the package does not include additional direct state and local aid to cover revenue shortfalls. Many of its provisions, however, are similar to the President’s proposal, but are significantly smaller in scope. For example, this package would extend enhanced unemployment benefits through June 30 (instead of September 30) and provide $1000 stimulus checks to individuals making under $40k per year (instead of $1400 for individuals making up to $75k). Check out the available summary of the proposal