On February 1, ten Republican senators revealed a $618 billion coronavirus relief bill, countering the plan introduced by the Biden Administration in January. The proposal addresses several of the points outlined by the Democrat-backed plan, but with significantly less funding made available and with some key issues excluded.
Direct Stimulus Payments
- $1,000 per adult
- $50K/$100K annual income cap for individual/joint filings
- $1,400 per adult in addition to existing $600 payments
- $87K/$174K annual income cap for individual/joint filings
State and Local Aid
- No aid
- $350 billion for state and local governments to distribute vaccine, increase testing, reopen schools, & more
- $20 billion for getting K-12 students back to school
- $170 billion for K-12 schools, public college and universities to help reopen, operate safely and facilitate remote learning
GFOA's Federal Liaison Center will continue to monitor the stimulus debate and report developments.