Senate Republicans have formally unveiled their $1 trillion stimulus proposal. It’s called the HEALS Act, which stands for Health, Economic Assistance, Liability Protection and Schools. The proposal would cut unemployment benefits down from $600 a week to $200 a week for the next two months, then at the end of September it would switch to providing 70% of wages prior to losing your job. There would also be another round of $1,200 stimulus payments. It also includes a second round of Paycheck Protection Program loans to help keep the hardest-hit small businesses afloat.

We’ll see if this passes.