Yesterday, as the U.S. Senate returned from summer recess, Majority Leader Mitch McConnell (R-KY) put forward a slimmed down version of a Phase IV COVID-19 recovery package. The new $500 billion proposal is roughly half the size of Sen. McConnell's previous draft. The bill moves further away from the $3.4 trillion version approved by the House of Representatives in May. The new draft retains $29 billion in relief funding for higher education, which was in the original draft, as well as funding for COVID-19 related R&D and testing. However, other higher ed. requests, such as recovery funding to support existing federally funded research projects were not included. The bill is likely to receive an initial vote on Thursday. However, it's unclear whether there will be 60 votes in support to avoid a filibuster. Further, there is little chance that House leadership will even allow a vote on the bill.  

Congress likely has three more weeks to reach agreement on a next phase COVID-19 recovery bill. The House and Senate are currently set to leave DC in early October to campaign. Some on the Hill have speculated that combining a recovery bill with a must-pass continuing resolution to keep the government open beyond September 30th may prove to be an effective strategy. However, the move could also result in an even more consequential defeat.

Targeted Phase IV COVID-19 Recovery Bill Summary