The U.S. Chamber of Commerce said Wednesday that it strongly supports coronavirus relief legislation introduced by a bipartisan group of lawmakers Tuesday.
“For pandemic relief to become law, it must be bipartisan,” said Neil Bradley, the executive vice president and chief policy officer for the U.S. Chamber of Commerce. “We are greatly encouraged that a bipartisan group of House and Senate members along with the Problem Solvers Caucus have released an outline that can potentially break the partisan gridlock that has prevented long-overdue pandemic relief. Between this effort and the recent revisions to the Senate Republican proposal — which maintains critical elements especially with respect to liability protection — we believe there is an opportunity for Republicans and Democrats to negotiate a bill that can become law.”
While it is critical that lawmakers get the details right, time is of the essence. American families cannot wait until next year, Bradley said.
“The Chamber urges lawmakers to support bipartisan efforts to enact pandemic relief in the coming weeks,” he said. “We also urge lawmakers to work with the business community to ensure that relief reaches small businesses as soon as possible and that liability reforms provide meaningful protections like in the ‘Safe to Work Act’.”
Before the election, House Democrats passed a $2.2 trillion stimulus package that included stimulus checks for every family in America. That costly package was dead on arrival in the Republican-controlled Senate like their earlier $4.4 trillion HEROES Act proposal, which they passed in the early summer. Senate Republicans supported a $500 billion “skinny” package that failed because Senate Democrats filibustered. Senate Democrats also killed a $500 billion extension of the Payroll Protection Program.
The $908 billion bipartisan stimulus proposal does not mail out a second round of checks to every family like the CARES Act did. To get Democratic support, this bill — unlike the two Republican bills — does include $160 billion in support for state and local governments. Small businesses would receive $288 billion, at least partially through the Paycheck Protection Program. The PPP loans would keep people on payrolls through the holiday season and into next year. The unemployed would be paid an additional $300 per week in federal unemployment benefits for four months, totaling $180 billion. There is also $82 billion earmarked for education and $16 billion for vaccine development and distribution.
The latest bipartisan proposal was put together in the Senate by Democratic Sens. Jeanne Shaheen and Maggie Hassan of New Hampshire, Mark Warner of Virginia and Joe Manchin of West Virginia, along with Independent Sen. Angus King of Maine and Republican Sens. Lisa Murkowski of Alaska, Bill Cassidy of Louisiana, Susan Collins of Maine and Mitt Romney of Utah.
In the House of Representatives, it is supported by Democrats Dean Phillips of Minnesota, Josh Gottheimer of New Jersey and Abigail Spanberger of Virginia, and Republicans Fred Upton of Michigan, Tom Reed of New York, Anthony Gonzalez of Ohio and Dusty Johnson of South Dakota.
In a joint news conference, Speaker Nancy Pelosi, D-California, and Senate Majority Leader Chuck Schumer, D-New York, said that they could support the legislation but that they want some tweaks to it. Senate Majority Leader Mitch McConnell, R-Kentucky, called the bill a “waste of time,” saying that he thought it was too big and is still supporting his $500 billion stimulus bill. Republicans say they are concerned that a large third stimulus bill would only add to the debt.
The incoming Biden administration’s transition team is also supporting the bill.
The U.S. Chamber of Commerce is the world’s largest business organization representing companies of all sizes across every sector of the economy. Members range from the small businesses and local chambers of commerce that line the main streets of America to leading industry associations and large corporations.
(Original reporting by Newsweek, Fox News, and CBS News contributed to this report.)