A bipartisan group of senators proposed a $908 billion coronavirus relief package that would boost unemployment benefits and provide financial help for small businesses.

The proposal seeks to close the gap between the Democrats' $2.2 trillion plan and the Republicans' $500 billion plan. The measure would provide an additional $300 billion in funding for small businesses through the Paycheck Protection Program and $180 billion to extend a $300 per week boost in unemployment benefits for four months. It will also include $240 billion for state and local governments.

The proposed package does not include a direct payment for Americans.

"It won't make everyone happy," Virginia Senator Mark Warner said during a press conference on Tuesday (December 1). "But there's been an enormous amount of work done."

It is unknown if the plan will be supported by the White House or the leadership in the House and Senate.

"I don't have any prediction how the White House would react," Utah Senator Mitt Romney said. "COVID has created a crisis. And in the crisis, the people expect Congress to act."

House Speaker Nancy Pelosi is scheduled to have a conference call with Treasury Secretary Steven Mnuchin to discuss a coronavirus relief package and the government spending package that must be approved to avoid another government shutdown.

Photo: Getty Images

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