McConnell plans for new coronavirus relief bill that President Trump will sign into law

Senate Majority Leader Mitch McConnell said Republicans are eyeing a new targeted coronavirus relief bill based on what President Trump would sign into law, and poured cold water on a new bipartisan $908 billion proposal his colleagues put forth earlier Tuesday.

"We just don't have time to waste time," McConnell, R-Ky., said of the compromise legislation a group of Democrats and Republicans released Tuesday. "We have a couple of weeks left here. Obviously, it does require bipartisan support to get out of Congress, but it requires a presidential signature. And this government is in place for sure for the next month. And I think the place to start is: Are we actually making a law or are we just making a point?"

McConnell said he talked with Treasury Secretary Steven Mnuchin to ascertain exactly what Trump would sign into law. That proposal -- pegged at roughly $500 billion -- was circulated to Senate Republicans Tuesday and will be the basis of the next GOP COVID relief effort.

A copy of the proposal obtained by Fox News shows the legislation includes liability protections for businesses, more than $300 billion in new Paycheck Protection Program money for employers, $105 billion for schools to reopen and an extension of unemployment benefits through Jan. 31 with a two-month phase-out. Not included in the legislation is another round of direct stimulus checks of $1,200, rental assistance or state and local funding.

The timeline for the coronavirus relief bill is around the corner. Government funding ends on Dec. 11 at 11:59 p.m., and Congress must pass a new spending bill to avert another shutdown. McConnell said the $1.4 trillion omnibus spending bill could be ... (Read more)

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