The Senate met briefly today to consider an attempt by Majority Leader Mitch McConnell (R-KY) to pass legislation that would add $250 billion to the Paycheck Protection Program enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

Sen. McConnell sought unanimous consent to pass the bill but was blocked by Democrats, who countered with a much larger spending proposal. Both attempts to pass the dueling proposals failed. Neither included new tax provisions.

As explained in a summary of the bill issued by Democratic leaders, the bill they sought to pass, the "Interim Emergency COVID-19 Relief Act," includes five major provisions: 

• Small Business Plus – additional funding and critical improvements to the SBA programs ($250 billion)
• Health provider relief ($100 billion)
• Enhanced funding for coronavirus relief for states, tribal governments, and municipal and county governments ($150 billion)
• SNAP 15 percent benefit increase and access improvements
• Technical fixes to election assistance funding from the CARES Act requested by Republican and Democratic Secretaries of State

Sen. McConnell argued that there is bipartisan agreement on the immediate need for more SBA loan funding and that Democratic priorities should not delay action. "There's only one part of the CARES Act that is already at risk of exhausting its funding right now," the Majority Leader said.

With both sides at an impasse, negotiations on a compromise could commence soon and carry through the weekend.

The Senate's next scheduled session is the morning of April 13, 2020.

Sen. McConnell's remarks on the Senate floor today are posted here.

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