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Senate to Unveil New Coronavirus Stimulus Bill Cutting Unemployment Benefits

HeadlineJul 27, 2020

On Capitol Hill, the Republican-controlled Senate is expected to unveil a $1 trillion proposal today for the long-awaited second coronavirus relief package. The legislation includes another round of $1,200 stimulus checks, according to Treasury Secretary Steve Mnuchin, and scraps the $600 weekly boost in unemployment benefits, which Democrats are fighting to extend. Instead, unemployment will cover 70% of lost wages, which will likely amount to approximately $200. Republican senators are also trying to pass Mitt Romney’s TRUST ACT as part of the bill, which would gut Social Security and Medicare.

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