• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis

1

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis
Financeunemployment

The White House unveils a new stimulus package with $400 weekly unemployment benefits and $1,200 checks

By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
By
Lance Lambert
Lance Lambert
Former Real Estate Editor
Down Arrow Button Icon
October 1, 2020, 9:10 AM ET
Add Fortune on Google for similar content.

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism, subscribe today.

During a closed-door meeting on Wednesday, Treasury Secretary Steven Mnuchin offered House Speaker Nancy Pelosi the White House’s biggest stimulus offer yet.

The White House upped its stimulus offer from $1.3 trillion to $1.6 trillion. That’s still below the $2.2 trillion that Democratic leaders are requesting, but sufficient enough for Pelosi to delay a Wednesday vote on the revised $2.2 trillion Heroes Act as the two parties continue negotiations.

The Republican offer would provide $400 weekly enhanced unemployment benefits, paid on top of state benefits and retroactively from the week ended Sept. 12 and continuing until the week ending Jan. 1, 2021, according to Roll Call. That would replace the $300 weekly benefits that President Donald Trump issued through a memorandum in August, which were exhausted in September.

That’s less than the $600 weekly unemployment benefit included in the Democrats’ proposed $2.2 trillion Heroes Act. However, the $400 benefit is double the $200 per week that Senate Republicans proposed back in July.

The White House stimulus offer would also provide $250 billion for state and local governments, according to Roll Call. House Democrats are requesting more than $430 billion for state and local governments.

And the latest White House offer would set aside $150 billion for education, $75 billion for coronavirus-related projects, $60 billion for mortgage and rental assistance, and $15 billion for food programs.

If a stimulus package is to materialize, both parties on Wednesday reaffirmed it would include another round of $1,200 stimulus checks for adults and $500 for dependents.

But if a stimulus compromise doesn’t come to fruition on Thursday, House Democrats are likely to vote on the $2.2 trillion Heroes Act—which is opposed by Republicans and unlikely to get signed into law.

Why pass the $2.2 trillion Heroes Act if it has no chance of becoming law? It gives Democratic representatives a talking point as they go home during the October recess to campaign. Meanwhile, vulnerable Senate Republicans will go home without having passed another stimulus bill since the spring.

More must-read finance coverage from Fortune:

  • What Wall Street needs from the 2020 election
  • The biggest takeaway from the New York Times’ tax exposé? Trump is a lousy businessman.
  • September was bad for investors. And watch out: October may be “choppier”
  • This veteran Wall Street investor thinks pundits are overestimating the chances of a Biden victory
  • How the financial impact of the coronavirus could haunt consumers for a long time

About the Author
By Lance LambertFormer Real Estate Editor
Twitter icon

Lance Lambert is a former Fortune editor who contributes to the Fortune Analytics newsletter.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Current price of oil as of July 16, 2026
Personal FinanceOil
Current price of oil as of July 16, 2026
By Joseph HostetlerJuly 16, 2026
44 minutes ago
Photo: Disney cruise ship.
Travel & LeisureDisney
EXCLUSIVE: Disney’s cruise ship fleet generated $3 billion in the last fiscal year—and the company plans to add 5 more in a $60 billion expansion
By Christian SyltJuly 16, 2026
2 hours ago
Current ARM mortgage rates report for July 16, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for July 16, 2026
By Glen Luke FlanaganJuly 16, 2026
3 hours ago
Current refi mortgage rates report for July 16, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 16, 2026
By Glen Luke FlanaganJuly 16, 2026
3 hours ago
Mortgage rates today, July 16, 2026
Personal Financemortgages
Mortgage rates today, July 16, 2026
By Glen Luke FlanaganJuly 16, 2026
3 hours ago
The MacKenzie Scott paradox: How a bull market lets billionaires give away tens of billions without getting poorer
EconomyMacKenzie Scott
The MacKenzie Scott paradox: How a bull market lets billionaires give away tens of billions without getting poorer
By Sydney LakeJuly 16, 2026
3 hours ago

Most Popular

26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
Law
26 Meta employees accuse Mark Zuckerberg of using AI to target 8,000 layoffs against workers on medical, parental or family leave
By Barbara Ortutay, Alexandra Olson and The Associated PressJuly 15, 2026
21 hours ago
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
19 hours ago
He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis
Innovation
He sold his last company to Palantir. Now he's betting $32 million that robots can fix construction's labor crisis
By Lily Mae LazarusJuly 15, 2026
22 hours ago
Jamie Dimon understands why people are anti-rich: 'We have, in fact, left the lower-income folks behind' and 'that's kind of annoying'
Economy
Jamie Dimon understands why people are anti-rich: 'We have, in fact, left the lower-income folks behind' and 'that's kind of annoying'
By Eleanor PringleJuly 15, 2026
23 hours ago
MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
Newsletters
MacKenzie Scott, Melinda French Gates, and Lauren Sánchez Bezos are rewriting the rules of billionaire giving—one quietly, one strategically, one very publicly
By Sydney LakeJuly 14, 2026
2 days ago
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
North America
After donating $48 billion to the Gates Foundation, Warren Buffett is quietly ending one of the biggest philanthropic relationships in history
By Marco Quiroz-GutierrezJuly 14, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.