GOP unveils $1 trillion COVID-19 relief package: 9 things to know

Alia Paavola –
Tuesday, July 28th, 2020
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Nine things to learn about the bill:.

Republican senators July 27 formally unveiled their $1 trillion COVID-19 relief plan, called the Health, Economic Assistance, Liability Protection and Schools Act..

1. The senators released a multitude of specific GOP costs that are set to authorize about $1 trillion in brand-new spending. Together, they are packaged as the HEALS Act..

2. The HEALS Act contains $25 billion in brand-new grant funding for healthcare suppliers..

3. The brand-new bill also includes a medical liability clause that shields businesses, physicians and universities from coronavirus-related suits, except whens it comes to “deliberate misbehavior.” The protections would last at least 35 years..

In the GOP proposal, hospitals would get an extension to repay Medicare accelerated and advance payments, which were licensed under the Coronavirus Aid, Relief and Economic Security Act. In the CARES Act, the loan terms would need service providers to begin paying back these loans as early as August 2020.

5. The bill extends telehealth versatilities through 2021, or completion of the federal public health emergency. The versatilities will last up until whichever one happens earlier..

6. The bill designates an extra $16 billion to expand coronavirus testing and tracing and $26 billion for COVID-19 vaccine development..

The costs consists of a narrower version of Paycheck Protection Program loans for little companies. The aid is slated to go to companies with less than 300 staff members where revenue has fallen by more than 50 percent during the pandemic.

8. The proposition consists of a brand-new set of direct payments of $1,200 and $2,400 to couples and people, respectively. Eligibility remains the like the very first round of stimulus checks..

9. The brand-new relief expense provides laid-off employees approximately 70 percent of their incomes, instead of a $600 weekly welfare.

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The senators released a multitude of individual GOP costs that are set to authorize about $1 trillion in new costs. In the GOP proposition, hospitals would get an extension to repay Medicare accelerated and advance payments, which were authorized under the Coronavirus Aid, Relief and Economic Security Act. In the CARES Act, the loan terms would need companies to start paying back these loans as early as August 2020.

The costs extends telehealth flexibilities through 2021, or the end of the federal public health emergency. The costs includes a narrower variation of Paycheck Protection Program loans for little organizations.

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