Lawmakers unveiling bipartisan coronavirus stimulus package as stalemate drags on - CNBC

The roughly $908 billion proposal includes $288 billion in small business aid such as Paycheck Protection Program loans, $160 billion in state and local government relief and $180 billion to fund a $300 per week supplemental unemployment benefit through March, according to a draft framework.

Mark Warner of Virginia, a member of the congressional group that has discussed a new relief plan, earlier called it an "interim package" to provide support until President-elect Joe Biden takes office in January.

It is unclear whether congressional leaders will embrace the proposal or if it will lead to a breakthrough before the end of the year, when many programs expire.

Joe Manchin, D-W.V., who worked on the proposal, said the group had no assurances from House Speaker Nancy Pelosi, D-Calif., or Senate Majority Leader Mitch McConnell, R-Ky., that they would vote on the plan.

At the same time, lifelines put in place by Congress earlier this year will expire at the end of the year, hitting Americans already struggling to cover costs.

The programs lapsing at the end of December include an unemployment insurance extension, a federal student loan payment moratorium and eviction protections.

They plan to mention coronavirus relief, he said.

Asked about the aid proposal during congressional testimony Tuesday, he said it seemed the plan targets "a lot of the areas that could definitely benefit from help" and will "be experiencing a challenging winter.".

If the unemployment programs expire at the end of the year, about 12 million Americans could lose benefits.