[co-author: Taylor Daly, Public Policy Specialist]

Congress took its final steps forward today in advancing H.R. 6201, the Families First Act (also referred to as Phase 2 of the COVID-19 response), with the Senate approving the measure late this afternoon by a vote of 90-8. The package now heads to President Trump for his signature.

In addition, the U.S. Department of the Treasury has released a two-page memo detailing its recommendations for "Phase 3" of the administration’s response to the pandemic. These proposals range from appropriating an additional $200 billion for secured lending to the airline industry and other critical sectors of the economy, appropriating $300 billion for a small business loan program, and authorizing two rounds of direct payments to taxpayers, each totaling $250 billion.