Schumer to propose at least $750 billion to combat coronavirus

Senate Minority Leader Charles Schumer (D-N.Y.) is set to propose at least $750 billion to combat the coronavirus as lawmakers discuss a third legislative package.

The proposal, according to the Democratic leader’s office, is set to be presented to appropriators as early as Tuesday.

“We will need big, bold, urgent federal action to deal with this crisis. The kinds of targeted measures we are putting together will mainline money into the economy and directly into the hands of families that need it most,” Schumer said in a statement.

“Importantly, this proposal will also ensure our medical professionals have all the resources – including physical space and equipment – they need to provide treatment and keep Americans safe, among other people-focused initiatives,” he added. 

Schumer’s proposal would put money “directly into hands of American people,” as well as include funding for a laundry list of issues including bolstering hospital capacity, providing help for small businesses and delaying payments on federal loans.

The pending proposal comes as lawmakers, including Senate Majority Leader Mitch McConnell (R-Ky.) and House Speaker Nancy Pelosi (D-Calif.), have discussed the likely need for at least a third coronavirus package to help revive the economy.

McConnell said in a statement that there were already discussions underway among Senate Republicans on “next steps,” including help for small businesses and increasing support for the health care system.

“Discussions are already underway on these key pillars. The Senate is eager to work with the Administration and the House to deliver the solutions our nation deserves,” he said.

Schumer’s ideas are meant to be included as part of a third package. Congress already passed $8.3 billion in funding earlier this month. The House also passed a second bill over the weekend to provide for paid leave for some employees and strengthen unemployment insurance. 

Updated at 2:47 p.m.