House Dems drafting new ‘multitrillion-dollar’ coronavirus relief bill

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“We’re looking at a multitrillion-dollar bill,” one House Democratic aide told Fox News.

While the text of the legislation may not be available until next week, it’s clear the centerpiece of the House response will be funding for state and local governments

House Speaker Nancy Pelosi last week telegraphed that just the aid alone to hard-hit states and local governments could reach nearly $1 trillion.

This comes, however, as some GOP leaders are looking to pump the brakes on spending, with prior relief bills already prompting the U.S. Treasury to borrow a record $3 trillion this quarter.

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The Metropolitan Museum of Art of New York City (the Met) started an online petition last month asking for $4 billion in relief for America’s cultural institutions and nonprofit museums. The Met has an endowment of $3.6 billion alone.

The effort has a champion in powerful Rep. Jerrold Nadler, D-N.Y., who is determined to fight for funding for New York City cultural institutions that have been reeling from prolonged closures.

His arts proposal includes $10.5 billion in relief grants, expanded Small Business Administration loan opportunities, boosting the charitable tax deduction to incentivize giving and granting nonprofits a payroll tax holiday.

Democrats are eyeing more direct payments to Americans or expanded unemployment benefits as well as help for small businesses, the U.S. Postal Service, funding elections and more aid for testing and contact tracing. Also in the mix is rent relief, more food security assistance, helping states implement mail-in voting, expanding broadband access, funding for health care and public housing support, according to statements from lawmakers and aides.

Pelosi is under pressure from her liberal left wing to go bold on this next round of funding to help undocumented immigrants and minority communities who are hardest hit by the virus, oftentimes because they are essential workers.

Ocasio-Cortez has called for $2,000 in monthly reoccurring payments to all families, regardless of immigration status, and $1,000 per child.

The New York Democrat also wants rent canceled during the pandemic. – READ MORE

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