Nancy Pelosi and Democrats unveil new Coronavirus stImulus bill proposal estimated to cost $3 trillion, that'll pay $1,200 to every American and almost $6,000 per household

 

US House Democrats led by House Speaker Nancy Pelosi on Tuesday unveiled a new Coronavirus stimulus bill proposal estimated to cost $3 trillion, that if signed into law by Donald Trump will be the largest economic bailout package agreed by any government worldwide to deal with the Coronavirus pandemic .

The package was agreed by the Democrats without input from Republicans, or the White House and from the $3 trillion package, about $1 trillion would go to state, local and tribal governments.

$1,200 will be paid to individuals while a maximum of $6,000 will be paid per household .$600 will be given as extra in weekly unemployment insurance while student loan payments will be paused through September, creating a new $175 billion benefit that would subsidize rent and mortgage payments for Americans.

Pelosi named the proposal, the Heroes ACT, while announcing the historic package in a televised address from the Capitol Tuesday. If the bill is passed into law it'll surpass the $2 trillion Coronavirus stimulus package agreed bipartisanly and signed by Trump in March.

"We face the biggest catastrophe in our nation's history," Pelosi said.


“This is a moment when many millions of our fellow Americans are in deep suffering," Pelosi said. "We must have empathy for our heroes."

Pelosi continued: "We must also empathize with the pain of families who do not know where their next meals are coming from and how to pay next month's rent."