US Republicans Push $500 Billion Economic Stimulus Bill This Time

Conflict Between Democrats and Others Over 1 Trillion Won Bill Leads to Scale Reduction

Mitch McConnell, U.S. Republican Senate Majority Leader
Photo by AP News

[Asia Economy New York=Correspondent Baek Jong-min] As the White House and the Democratic Party in the U.S. face difficulties in reaching an agreement on an additional economic stimulus bill, the Republican Party is reportedly considering a smaller independent stimulus bill, CNBC reported on the 27th (local time), citing sources.

CNBC reported that the Republican Party is preparing a $500 billion stimulus bill that includes expanded unemployment benefits, support for small businesses and school reopenings, and COVID-19 vaccine development. The bill is known not to include direct cash payments to American citizens.

Sources said the Republican Party’s new bill will be unveiled later this week.

Initially, the Republican Party proposed a $1 trillion additional economic support bill but has been in conflict with the Democratic Party, which demands a $2 trillion stimulus bill. As a result, the agreement continues to be delayed. U.S. media observe that even if the Republican Party prepares this bill, reaching an agreement with the Democratic Party will not be easy.

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