A NEW bill could give Americans $2,000 monthly coronavirus stimulus checks up until 90 days after the pandemic is over.
Three Democratic senators have pitched the Monthly Economic Crisis Support Act, which will be released on Friday, Politico reported.
The Act is being pitched by Senators Kamala Harris, Bernie Sanders and Ed Markey.
If the legislation is passed, Americans who make less than $120,000 would receive a monthly check of $2,000.
Married couples who file their taxes together would receive $4,000 and $2,000 would be provided for each child up to three.
News of the stimulus bill came as:
- Chinese coronavirus researcher, 37, shot dead in 'murder-suicide'
- Coronavirus symptoms day-by-day – when to expect
- Headache and feeling dizzy may be signs of coronavirus
- Report claims coronavirus 'was developed in Wuhan lab'
Harris told Politico that the bill is a reflection that Congress's previous efforts were not "nearly enough to meet the needs of this historic crisis."
Markey told the outlet that the checks would be "the most direct and efficient mechanism for delivering economic relief to those most vulnerable."
"Congress has a responsibility to make sure that every working-class household in America receives a $2,000 emergency payment a month for each family member," Sanders added.
The cash would be retroactive to March and would keep flowing until three months after the Health and Human Services Department has declared the public health emergency is over.
It would also be untouchable by debt collectors and Americans would receive the checks whether or not they have a Social Security number and filed taxes last year.
The introduction of the bill came on the same day that unemployment in the US reached 14.7 percent – the highest it's been since the Great Depression.
However, President Trump played down the numbers on Friday, saying they were "totally expected."
The Bureau of Labor Statistics also said more than 20 million Americans jobs their lost in April amid the coronavirus pandemic.
Appearing on Fox & Friends, Trump said the unemployment rate was "expected."
"It’s fully expected there’s no surprise everyone expects that," he said.
"Even the Democrats aren’t blaming me for that. What I can do is I can bring it back," he added.
Trump continued, speaking on the economy being at a peak before the COVID-19 crisis.
"We created the greatest economy… best we’ve ever had," he said.
"The best economy in the history of the world."
However, the jobless rate is now the worst it's been in decades.
In the Great Depression years of the 1930s, unemployment peaked at 25 percent. During the Great Recession of 2008, jobless numbers peaked at around 10 percent, according to the Bureau of Labor Statistics.
The the record spike of jobless claims comes as:
- COVID-19 numbers in the US continue to climb, with over 1.2 million cases confirmed
- A researcher who was "on the verge" of a COVID-19 breakthrough was shot dead
- Insiders alleged COVID-19 was developed in Wuhan lab so China could prove it's better than the US at fighting diseases
- Data shows a red rash could be a symptom in one of five coronavirus patients
- A new study shows that a headache or dizziness may be new symptoms of the virus
Experts have warned that jobless rates could soar to similar levels amid the coronavirus outbreak and lockdowns across the nation.
Shutdowns have caused workers to have hours cut, been furloughed or lose their jobs entirely as non-essential businesses shuttered to stop the virus.
In April, 20.5 million Americans lost their jobs, bringing the unemployment rate to 14.7 percent.
If numbers included workers who have been furloughed – or put out of work temporarily – the rate would be nearly 20 percent.
More than one million American veterans filed jobless claims in April, the Bureau of Labor Statistics data shows.
Unemployment rates have soared in just a month, from 4.4 percent in the month of March.
Numbers for last month were also updated, to show 855,000 people lost jobs, instead of 701,000 as previously reported.
At 14.7 percent in April, this is the highest unemployment rate increase ever seen in a month, according to data from the Bureau of Labor Statistics spanning back to 1948.
In February, unemployment was at a record five-decade low, at 3.5 percent.
More than 33 million Americans have filed jobless claims amid the coronavirus pandemic, according to numbers from the Bureau of Labor Statistics yesterday.
Over the past week alone, 3.2 million Americans filed for unemployment – keeping the numbers climbing week-by-week.
In just a matter of a month, job growth from the Great Recession has been shattered due to the coronavirus pandemic.
A $2.2trillion stimulus package was passed in late March, including $1200 stimulus checks to Americans that fall within a certain income bracket.
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