Earlier this evening, Senate Republicans unveiled their initial version of the “Phase 3” stimulus bill in an attempt to prevent further damage to the economy. The center piece of the package is direct payments of up to $1,200 for individuals and $2,400 for married couples, with the payments being cut off at individuals making $99,000 per year.
The proposal includes additional assistance to other sectors of the economy, such as $50 billion for the air line industry and $8 billion for the air cargo industry.
While the measure was introduced by the Senate Republican leadership, there is still disagreement within the Senate ranks. In addition, neither the House or Senate Democrats were involved in the drafting of the proposal, meaning changes are likely along the way.