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A group of 10 Republican senators released details of their proposed COVID-19 relief plan today, hours before a meeting with President Joe Biden on the issue to seek a bipartisan consensus.

Click link below for full plan details:

Proposed Sixth Covid Relief Package.pdf

  • Stimulus cheque details as follows: 'Provides another $1,000/person (for $1,600 total including Dec. 2020 amt). For singles, begins phasing out at $40K/yr with a $50K cap. For joint filers, begins phasing out at $80K/yr with a $100K cap. $500 for dependent adults and children. No checks to convicted inmates.' Estimated cost USD220bn.
  • USD20bn for vaccinations, USD50bn for enhanced testing.
  • This plan remains far smaller than Biden administrations preferred USD1.9trn relief package.
MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com