Senate Majority Leader Mitch McConnell (R-KY) expects Senate approval today of the House-passed coronavirus bill (H.R. 6201). The bill's major provisions include free testing, employer tax credits for paid sick and family care leave, unemployment insurance, food assistance, and more. No amendments are expected, which means it would go directly to the president when passed. The president strongly supports the bill.

H.R. 6201, the "Families First Coronavirus Response Act" is frequently referred to as the second, or stage-two, coronavirus bill. The first was an emergency supplemental appropriations bill enacted earlier this month.

Work is already underway on a third legislative package to ease the broader strains on economic activity. Yesterday, Treasury Sec. Steve Mnuchin met with GOP Senators to discuss a massive economic relief bill to bolster the U.S. economy and get money into the hands of millions of Americans idled by the virus.

This "Stage Three Proposal" includes the following major areas of focus:

• Airline Industry Secured Lending ($50 billion);
• Other Severely Distressed Sectors of the Economy ($150 billion);
• Temporarily Permit Use of the Exchange Stabilization Fund to Guarantee Money Market Mutual Funds;
• Economic Impact Payments ($500 billion); and
• Small Business Interruption Loans ($300 billion)

The proposal envisions direct cash payments to individual taxpayers totaling $500 billion in two stages. The first round of payments would start on April 6, 2020 with another round set to start on May 18, 2020. "Payment amounts would be fixed and tiered based on income level and family size," the proposal explains. The President today explained that the size of the payments and timing are being negotiated with Congressional leaders.

​The text of the Treasury Department's Stage Three Proposal is posted here.

​Congress would need to authorize these policy proposals. Sen. McConnell has tasked several Senators with taking the lead on developing this third bill. As Chairman of the Finance Committee, Sen. Chuck Grassley (R-IA) has the biggest role to play. "My committee, with jurisdiction over tax, trade, and certain major federal health policy, will work with others as we determine what further economic relief measures suit the needs of our country and our economy best," the Chairman said in a statement.

Other Senators tasked with putting together this next bill include Commerce Committee Chairman Roger Wicker (R-MS), Small Business Committee Chairman Marco Rubio (R-FL), Banking Committee Chairman Mike Crapo (R-ID), Health, Education, Labor and Pensions Committee Chairman Lamar Alexander (R-TN), and Sen. Susan Collins (R-ME). 

​The Majority Leader says he will keep the Senate in session indefinitely. "I will not adjourn the Senate until we have passed a far bolder package that includes significant relief for small businesses,” Sen. McConnell said.

The unified text of H.R. 6201 (with the technical revisions approved earlier this week by the House) is posted here.

The Joint Committee on Taxation has issued a description of the bill's tax provisions, which is posted here.

A Ways and Means Committee summary of the paid leave portion of the bill is posted here.

Miller & Chevalier has formed an interdisciplinary task force, comprised of attorneys in seven main practice areas, to help businesses navigate the complex legal issues created by this global event. More information is posted here.

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