Here’s what we know so far about the differences between the two packages.
Both parties have traded proposals on stimulus checks. Democrats favor giving eligible Americans a top-up to $2,000, while Republicans are offering slightly less and want to lower the income range of those who would qualify.
Biden’s plan would cost $465 billion, according to the non-partisan Committee for a Responsible Federal Budget, while the Republicans say their measure would cost an estimated $220 billion.
Individuals earning less than $75,000 a year will receive the full $600. Married couples filing jointly earning less than $150,000 are also due the full amount of $1,200.
The payments will phase out entirely at $87,000 for single filers without children and $174,000 for those married filing jointly without children, according to an analysis by the Tax Foundation.
The new payments would go to adult dependents that were left out of the earlier rounds, like some children over the age of 17. It would also include households with mixed immigration status, after the first round of $1,200 checks left out the spouses of undocumented immigrants who do not have Social Security numbers.
GOP: The Republican senators want to send $1,000 checks, per adult, but target them to those with lower incomes. The amount would begin phasing out at $40,000 for individuals and $80,000 for couples filing jointly. The upper cap would be $50,000 for individuals and $100,000 for couples. Dependent adults and children would receive $500.
This is another big point of difference. The President is proposing extending benefits through September, while Republicans — who have consistently expressed concerns that making unemployment benefits too generous will dissuade people from getting back into the job market — are suggesting extending support only through June. Biden’s plan would cost $350 billion, according to the committee, while the senators say their proposal would cost $132 billion.
He would also extend the payments, along with two key pandemic unemployment programs, through September. This applies to those in the Pandemic Emergency Unemployment Compensation program who have exhausted their regular state jobless payments and in the Pandemic Unemployment Assistance program, which provides benefits to the self-employed, independent contractors, gig workers and certain people affected by the pandemic.
Lawmakers only provided an additional 11 weeks of support in the December package, which will last until March.
GOP: The GOP proposal would extend the $300 weekly benefit through June 30. It would also provide $2 billion to states to improve their technology.
Coronavirus vaccines, testing and tracing
Both plans would provide $160 billion to fight the virus.
The proposal would also invest $50 billion in testing, providing funds to purchase rapid tests, expand lab capacity and help schools implement regular testing to support reopening.
It would also fund the hiring of 100,000 public health workers, nearly tripling the community health workforce. It would address health disparities by expanding community health centers and health services on tribal lands. And it would provide support to long-term care facilities experiencing outbreaks and to prisons for mitigation strategies.
GOP: The Republicans’ proposal calls for providing the same amount to battle the pandemic. It would fund a National Vaccine Program, expansion of testing, a disaster relief fund and personal protective equipment for first responders, independent physician offices and dentists.
It would also provide $15 billion to replenish the National Strategic Stockpile and inject $35 billion to the provider relief fund, which reimburses hospitals and health care providers for coronavirus-related expenses and revenue losses.
The two plans are similar when it comes to extending food stamp benefits. Biden’s package does not put a price tag on this provision, but the Republicans say their plan would cost $12 billion.
Biden: The President would extend the 15% increase in food stamp benefits through September, instead of having it expire in June. He would invest another $3 billion to help women, infants and children secure food, and give US territories $1 billion in nutrition assistance. And he would partner with restaurants to provide food to needy Americans and jobs to laid-off restaurant workers.
GOP: The senators would also extend enhanced food stamp benefits through September as well as provide $3 billion for WIC funding.
Both plans would funnel about $50 billion into small business assistance but through different programs.
It also proposes making a $35 billion investment in some state, local, tribal and non-profit financing programs that make low-interest loans and provide venture capital to entrepreneurs.
GOP: The senators would funnel more money into Paycheck Protection Program and the Emergency Injury Disaster program, which provides long-term, low-interest loans from the Small Business Administration. Their proposal includes $5 million for audits and investigations into the Paycheck Protection Program.
Biden, who has made reopening in-person programs a top priority, is offering far more money to pay for upgrades that teachers and districts say are needed to return safely.
Biden: The President would provide a total of $170 billion more to K-12 schools, colleges and universities to help them reopen and operate safely or to facilitate remote learning.
It would provide $130 billion for schools to reopen and for districts to meet students’ academic, social, emotional and mental health needs. Another $35 billion would go to public colleges, including community colleges, and public and private historically black and minority-serving institutions. And it would provide governors with $5 billion to support the hardest hit educational programs, from early childhood to K-12 to higher education.
Congress approved $82 billion in aid for schools in December.
GOP: The Republicans would provide $20 billion for getting K-12 students back to school.
Both plans call for spending billions on child care.
Biden: The President’s plan calls on Congress to create a $25 billion emergency fund to help child care providers in danger of closing and to assist those have shut their doors to reopen. It will help pay for rent, utilities and payroll, as well as coronavirus protection measures.
It also proposes expanding the child care tax credit for one year so that families will get back as much as half of their spending on child care for children under age 13.
GOP: The senators would allocate $20 billion to the child care and development block grant program.
Mental health services
Both plans would increase funding for mental health services by the same amount.
Biden: The President’s package calls for sending $4 billion to the Substance Abuse and Mental Health Services Administration and the Health Resources and Services Administration to expand access to treatment.
GOP: The senators would also increase funding for behavioral health services by $4 billion.
What else is in the Biden plan
Republicans have not yet released the full details of their plan, but here’s what else was in Biden’s proposal.
Rental assistance and eviction moratorium
The President would provide $25 billion in rental assistance for low- and moderate-income households who have lost jobs during the pandemic. That’s in addition to the $25 billion lawmakers provided in December.
The plan would extend the federal eviction moratorium, which was to expire at the end of January, to September 30, as well as allow people with federally-guaranteed mortgages to apply for forbearance until September 30.
Aid for states
Biden wants to send $350 billion to state, local and territorial governments to keep their frontline workers employed, distribute the vaccine, increase testing, reopen schools and maintain vital services.
Additional assistance to states has been among the most controversial elements of the congressional rescue packages, with Democrats looking to add to the $150 billion in the March legislation and Republicans resisting such efforts. The December package ultimately dropped an initial call to include $160 billion.
Biden’s plan would also give $20 billion to the hardest-hit public transit agencies to help avert layoffs and the cutting of routes.
A temporary increase in tax credits
Biden wants to boost the child tax credit to $3,600 for children under age 6 and $3,000 for those between ages 6 and 17 for a year. The credit would also be made fully refundable. This would cost $120 billion, according to the Committee for a Responsible Federal Budget.
And he proposes to raise the maximum Earned Income Tax Credit for a year to close to $1,500 for childless adults, increase the income limit for the credit to about $21,000 and expand the age range of eligibility to cover older workers.
Both of these are aimed at supporting low-income families, including millions of essential workers.
Health insurance premium subsidies
Biden is also calling on Congress to subsidize through September the premiums of those who lost their work-based health insurance.
He wants to increase and expand the Affordable Care Act’s premium subsidies so that enrollees don’t have to pay more than 8.5% of their income for coverage — which is also one of his campaign promises. (The law is facing a challenge from Republican-led states that is currently before the Supreme Court.)
Also, he wants Congress to provide $20 billion to meet the health care needs of veterans.
Emergency paid leave
It would extend the benefit to workers employed at businesses with more than 500 employees and less than 50, as well as federal workers who were excluded from the original program.
Under Biden’s proposal, people who are sick or quarantining, or caring for a child whose school is closed, will receive 14 weeks of paid leave. The government will reimburse employers with fewer than 500 workers for the full cost of providing the leave.
A $15 hourly minimum wage
Biden is calling on Congress to raise the minimum wage to $15 an hour and to end the tipped minimum wage and the sub-minimum wage for people with disabilities.
CNN’s Lauren Fox and Daniella Diaz contributed to this report.