Senate GOP Preparing Trimmed-Down Virus Aid Proposal; (Study) Small Business Rebound After Lockdowns, and Other C-Virus Updates
Senate GOP Preparing Trimmed-Down Virus Aid Proposal After Negotiation Breakdown:
Senate Republican leaders are preparing a slimmed-down virus relief package of roughly $500 billion that will include extended payments for unemployed people and small businesses, a GOP senator said Tuesday
The package will also include $10 billion for the Postal Service, according to one top GOP aide.
The agency has become the focus of a battle over whether it will have enough resources to handle an expected flood of mail-in ballots for this November’s elections.
Negotiations over a far larger relief bill are expected to resume after Labor Day between the White House and top congressional Democrats.
With Democrats demanding a wide-ranging measure, the trimmer package emerging from Senate Majority Leader Mitch McConnell and other top Republicans seems to be an effort to show voters what the GOP would favor enacting quickly. —>READ MORE HERE.
Goldman Sachs Sees Small Business Rebound After Lockdowns:
Small businesses are appearing to recover better than expected after forced closures due to the coronavirus pandemic, a Goldman Sachs Group Inc. study found Sunday.
The majority of people who lost their jobs due to coronavirus restrictions have started work again, the study found according to Bloomberg. The number of people who are out of work due to coronavirus-related business closures is about 2.7 million as of July, which is down from a peak of about 10.7 million people in April.
The figures suggest that businesses that were forced to shut down recovered from coronavirus restrictions better than expected. The pandemic probably had a higher effect on overall unemployment than the study found, because businesses that didn’t close down likely cut jobs as well, Bloomberg reported.
IRS filings for new businesses are at an all-time high, the report said.
A July MetLife & U.S. Chamber of Commerce Small Business Coronavirus Impact Poll found that “more small businesses report reopening and have cautious optimism about the future despite concerns about a resurgence of the coronavirus.” —>READ MORE HERE.
Follow links below to related stories and resources:
USA TODAY: Coronavirus Updates
YAHOO NEWS: Coronavirus Live Updates
NEW YORK POST: Coronavirus The Latest
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