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Sen. Warner Proposes "Paycheck Security" Program

Mark Warner speaking to reporters
Mark Warner (D - VA) is part of a group of senators proposing new payroll assistance measures. (File Photo: Craig Carper/VPM News)

A group of senators, including Virginia Senator Mark Warner, is proposing a “Paycheck Security” program. Lawmakers say it could become another option for businesses that haven't been able to access other federal assistance.

Senator Warner says the program would cover the payroll and benefits for each furloughed or laid off worker, up to 90-thousand dollars per employee. "I can tell you in a state like mine, in Virginia, there are still folks waiting on getting their checks," he said.

Employers that have  seen at least a 20 percent drop in revenues would be eligible to receive grants ,that would last at least six months. Funds could also be used from the Paycheck Security proposal to cover a business’s rent, utility bills and insurance.

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