Senate Majority Leader Mitch McConnell unveiled the Republican coronavirus relief plan on Monday.
Here is what we know about the bill, as Republican leaders release the details:
McConnell, of Kentucky, and his fellow Republicans unveiled the measure as Congress scrambles to respond to a pandemic still wreaking havoc across the country. GOP committee chairs outlined major parts of the legislation they hope will serve as a starting point in talks with Democrats on a bill that could pass both chambers of Congress.
House Speaker Nancy Pelosi, D-Calif., and Senate Minority Leader Chuck Schumer, D-N.Y., met with Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows for nearly two hours at the Capitol on Monday. Leaving the discussion, Meadows told reporters the sides had a "very good meeting," and said the administration officials would return for talks Tuesday.
Speaking to reporters after the discussions, Pelosi called the Republican proposal "pathetic."
"It isn't serious," she said, according to reporters at the Capitol.
McConnell, in outlining the plan Monday, urged Democrats to come to an agreement quickly.
"The pandemic is not finished. The economic pain is not finished. So Congress cannot be finished either," he said.
The GOP hoped to release a pandemic aid plan last week, but senators and the White House struggled to reach a consensus as Covid-19 cases and deaths rise around the country. Democrats, who passed a $3 trillion relief plan in May, will look to change many provisions in the Republican opening offer.
For now, the roughly 30 million people still receiving some form of unemployment insurance wait to see how quickly Congress will extend assistance — and whether it slashes benefits when it does. Speaking after McConnell unveiled the plan, Schumer said the reported Republican jobless benefit proposal would hurt unemployed Americans, draw money out of the economy and prove daunting for states to implement.
"The Republican proposal on unemployment benefits, simply put, is unworkable," he said.
Senate Finance Committee ranking member Sen. Ron Wyden, D-Ore., called the proposal a "punch in the gut and a slap in the face for the 30 million Americans relying on lifeline unemployment benefits."
Republicans and Democrats are at odds over how best to lift an American economy and health-care system damaged by an outbreak the U.S. has failed to contain. As of Monday afternoon, the U.S. had reported more than 4.2 million Covid-19 cases and roughly 147,000 deaths from the disease, according to data compiled by Johns Hopkins University.
The U.S. had an unemployment rate above 11% in June even after two strong months of job gains driven by states reopening their economies. But many states have had to pause or roll back their restart plans in response to coronavirus case spikes.
Congress has already approved more than $2.5 trillion in spending this year to combat the health and economic crises.
— CNBC's Tucker Higgins contributed to this report