Business

Stocks flat as GOP settles on aid bill

Stock markets on Monday opened flat as congressional Republicans and the White House settled on details for their version of a coronavirus relief bill.

The Dow Jones Industrial Average was down about 20 points, or 0.07 percent, and the S&P 500 was up 1 point, or zero percent.

Senate Republicans were expected to unveil their version of a relief bill Monday after a week of delays over internal disagreements.

Their version of the bill is set to include another identical round of stimulus checks, an extension on a federal evictions moratorium and a renewal of expanded unemployment insurance. But rather than continuing the $600 in extra unemployment benefits that expires this week, the GOP bill will seek to offer people 70 percent of their previous wages.

The Labor Department and state unemployment offices say they may not be able to implement such a change on their technologically outdated systems for months, but Treasury Secretary Steven Mnuchin has said the Treasury Department has a quick fix for the problem.