According to a senior Democratic aide, the party's concerns with the GOP proposal center on $500 billion for corporations; stock buyback language that can be waived by the Treasury secretary; only a two-year time frame on executive compensation limits; and no provisions to protect individuals from eviction.
Democrats also object to what they say is an insufficient amount of money for state and local governments and providing only three months of unemployment insurance. Democrats initially asked for $750 billion in state aid, and Republicans have countered with far less.
Schumer and Pelosi are also seeking an additional $200 billion for hospitals and other health-care providers as part of a supplemental government spending bill included in the overall rescue package. The White House had initially sought $48 billion for federal agencies, and Republicans upped that total to $242 billion, including $75 billion for hospitals. Democrats want to further increase it to $450 billion.
While outstanding issues remain, Democrats are expected to get a win with $250 billion allocated to unemployment insurance. In addition, billions are expected to go to hospitals to address the influx of patients due to the pandemic. Schumer has called for a “Marshall Plan” for hospitals.
Sens. Marco Rubio (R-Fla) and Susan Collins (R-Maine) also reached an agreement in principle Saturday evening with Sens. Ben Cardin (D-Md.) and Jeanne Shaheen (D-N.H.), on the package’s small business provisions. The final deal on small businesses would amount to $350 billion, covering 58 million American workers and more than 30 million small businesses, Rubio tweeted Saturday.
Republicans are also pushing for $250 billion in direct cash payments to workers. Under the original GOP proposal, individuals and families would receive $1,200 and $2,400 in direct cash payments, depending on their income level. Sens. Josh Hawley (R-Mo.) and Mitt Romney (R-Utah) have raised concerns that the original language of the provision penalizes lower-income Americans who do not have a taxable income. But Republican aides say the issue will be resolved in the final text.