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Senate Majority Leader Mitch McConnell released the Senate Republican proposal on July 27 for a Phase IV relief bill to address the COVID-19 pandemic. The Health Care Economic Assistance Liability Protection and Schools, or the The HEALS Act, is a $1 trillion bill that includes another round of $1,200 direct payments to Americans. As well as a decrease from $600 to $200 per week in additional unemployment insurance, $105 billion for schools, $16 billion for more virus testing and tracing, a second targeted round of forgivable loans from the Paycheck Protection Program for small businesses and it would provide tax credits for businesses to help with rehiring and reopening.
The House passed their version of relief several weeks ago characterized as the HEROES Act. It was a $3 trillion relief bill that continued the $600 addition to unemployment insurance as well as replenishment of state and local funding. Debate among Democrats and Republicans is expected to continue right up to the Democratic Convention starting the second week in August.