Congress is working on a massive coronavirus relief package, it might not be enough for businesses
(L-R) Senate Majority Leader Mitch McConnell, Secretary of Treasury Steven Mnuchin, and Senate Minority Leader Chuck Schumer hold a meeting to discuss a potential economic bill in response to the coronavirus, COVID-19, in Washington, DC, on March 20, 2019.
Saul Loeb | AFP | Getty Images
Congress is scrambling to put together a third coronavirus relief package − and lobbyists are flooding the phones.
Lawmakers this weekend are pushing to meet the White House’s Monday deadline of coming to an agreement on a rescue package likely to top $1 trillion. On Saturday, White House Economic Advisor Larry Kudlow said the package would likely equal 10% of U.S. economic output, or more than $2 trillion. Executives have zeroed in on language in Senate Republicans’ initial proposal allocating a portion of those funds to Big Business.
The proposed bill funnels $50 billion to airlines, $8 billion to …continued .
[Source: CNBC News]