economy

Updated at 9:10 p.m. ET

After days of delays, congressional Republicans rolled out their proposal for a fifth wave of pandemic relief aid on Monday, setting the stage for a showdown with Democrats, who say the two sides remain far apart.

The plan, which was introduced by Senate Majority Leader Mitch McConnell, R-Ky., focuses on new funding for schools and a new round of payments to Americans and allows for some additional wage replacement for unemployed workers.

On the face of it, $600 is a pretty unremarkable number.

The federal government has been paying this additional amount each week to every person who qualifies for unemployment benefits during the pandemic.

Tony Gonzalez / WPLN

  The economists who help the state of Tennessee decide how much money it has to spend agree on two things: The times are unprecedented, but they probably won’t inflict as much pain on the state budget as the Great Recession did.

Marshall Gilmore finally got what he'd been waiting for this month when the state of Mississippi allowed him to offer table service again at his restaurant, the Harvest Grill in Meridian.

Still, many of his tables sit empty, even at limited capacity, and he makes most of his money offering curbside food pickup.

"People are just a little apprehensive about getting out in public. This was a once-in-a-lifetime scare that we all just went through. So everyone's a little scared," Gilmore says.

The spring homebuying season arrived this year without a bloom.

Existing home sales fell nearly 9% in March, according to the National Association of Realtors, as millions of Americans lost their jobs to the coronavirus pandemic and millions more hunkered down to avoid getting sick.

April's numbers will be released next week — and are likely to be even worse.

Unemployment is mounting. The economy keeps falling deeper into a recession — or worse. The coronavirus continues to spread. But car sales surprisingly are climbing.

Updated at 4:11 p.m. ET

House Democrats are moving full steam ahead with legislation to provide a new wave of coronavirus relief at a price tag of more than $3 trillion, with plans to call the full House back on Friday to approve it.

Meagan Davis / WIKIMEDIA COMMONS

Illinois' governor is defending his stay-at-home order and plans to reopen, saying residents will have to change the way things are done until the coronavirus is "eradicated."

The U.S. Treasury Department plans to borrow nearly $3 trillion between April and June to bankroll the federal response to the coronavirus pandemic.

It's an unprecedented level of deficit financing to match the historic economic hit caused by the virus. In a single quarter, the government will borrow more than twice as much as it did all of last year.

More than 30 million people have applied for unemployment as of April 30, as a result of the coronavirus pandemic. Many are falling behind on their rent and are being evicted, despite new rules designed to stop evictions. Experts say the moratoriums by state and local officials don't go far enough and are leaving tenants vulnerable.

"My main concern is that I'll be evicted," says David Perez. The self-employed father of one sells artisanal wares, like wallets and sandals, at a flea market in Elkridge, Md. "What's going to happen to my family?"

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