Get All Access for $5/mo

Republicans Unveil Their $1 Trillion Stimulus Proposal. Here's What's in It. They want to send out another round of $1,200 stimulus checks, while cutting those $600 weekly unemployment benefits to $200.

By Frances Dodds

Bloomberg | Getty Images

Last night, Senate Republicans unveiled a $1 trillion proposal they're calling the HEALS Act (Health, Economic Assistance, Liability Protection and Schools), which is the opening bid in what is sure to be a contentious negotiation with Senate Democrats over the next wave of economic relief. Democrats proposed their own stimulus plan back in May, and have been awaiting the Republicans' response, particularly since the additional federal unemployment benefits under the CARES Act were set to expire at the end of July, and the national eviction moratorium sunsetted last week.

The Republican proposal — which took so long in part because senators struggled to find consensus with the White House — offers plans for a variety of actions. Notably, Republicans want to send out another round of $1,200 stimulus checks directly to families and individuals. They also want to significantly slash the enhanced federal unemployment benefits from $600 a week to $200 a week, which is likely to be the toughest sell to Democrats.

In addition, they want to offer another round of forgivable Paycheck Protection Program (PPP) loans to the hardest-hit small businesses (those who have lost 50 percent or more in revenue), as well as tax incentives for businesses to rehire employees. They also want to give $105 billion to schools, and $16 billion for more COVID-19 testing.

Mitch McConnell's sticking point has been liability protections for businesses, schools, hospitals and nonprofits, and that was also included in the proposed bill.

Related: When Will My Next Stimulus Check Arrive? (Updated)

Frances Dodds

Entrepreneur Staff

Deputy Editor of Entrepreneur

Frances Dodds is Entrepreneur magazine's deputy editor. Before that she was features director for Entrepreneur.com, and a senior editor at DuJour magazine. She's written for Longreads, New York Magazine, Architectural Digest, Us Weekly, Coveteur and more.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Leadership

7 Telltale Signs of a Weak Leader

Whether a bully or a people pleaser who can't tell hard truths, poor leadership takes many forms.

Franchise 500 Annual Ranking

50 Franchise CMOs Who Are Changing the Game

Get to know the industry's most influential marketing power players.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.

Thought Leaders

6 Tips From a Clean Beauty Entrepreneur

Sarah Biggers went from a newbie in the natural beauty space to a pro in just a few years. Here are six things she wishes she'd known at the beginning.