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7/20, 12:29 AM (Source: TeleTrader)
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McConnell to reveal $1T aid bill this week - report

United States Senate Majority Leader Mitch McConnell will unveil $1 trillion coronavirus relief legislation this week, Axios reported, citing anonymous insiders with knowledge of the matter.

The government's fourth stimulus package is expected to include and focus on education funding and school reopenings in the fall, liability protection, an increase in funds for coronavirus testing and vaccine research and development, another round of relief from the Paycheck Protection Program and a payroll tax cut, the sources explained. McConnell's proposal does not cover financial aid to state and local governments, according to the report.

After the congressional Republicans release their bill, negotiations between them and the Democrats are expected to quickly ensue, with July 31, the summer recess start date for the House of Representatives looming.

Breaking the News / MS