Small business owners and self-employed individuals were also taken into consideration during negotiations, where it was proposed that four months of unemployment benefits would be extended to self-employed people.
As well as the Small Business Administration serving as a guarantor (up to $10-billion) for loans that small business owners had taken out, so that they could maintain their staff payroll and pay any outstanding debts.
The talks and negotiations had been ongoing for days, with reports of there being disagreement on many different levels, including where the focus of the funds would go, with the Democrats strongly focusing on the working American. It’s understood that the Democrats argued for more comprehensive safeguards for the American worker, and protective oversight as to how to money would be handed out.
Pelosi was seen promoting the negotiation process, in an interview where she said “many of the provisions in there have been greatly improved because of negotiation”
Whilst Senate Majority leader Mitch McConnell praised the bill as a strong step for republicans too, saying “We are close to a bill that takes our bold Republican framework, integrates further ideas from both parties and delivers huge progress.”
Currently unemployed individuals shouldn’t feel left out in this deal, as it was discussed that those currently on unemployment benefits would have it extended a further by 13 weeks, offering on average an extra $600 per week for those additional 3-4 months, in addition to what their state program was originally offering them.
