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July 27, 2020

Senate to Unveil New Coronavirus Stimulus Bill Cutting Unemployment Benefits
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On Capitol Hill, the Republican-controlled Senate is expected to unveil
a $1 trillion proposal today for the long-awaited second coronavirus
relief package. The legislation includes another round of $1,200
stimulus checks, according to Treasury Secretary Steve Mnuchin, and
scraps the $600 weekly boost in unemployment benefits, which Democrats
are fighting to extend. Instead, unemployment will cover 70% of lost
wages, which will likely amount to approximately $200. Republican
senators are also trying to pass Mitt Romney's TRUST ACT as part of the
bill, which would gut Social Security and Medicare.


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