These rush overnight bullets describe the Senate Republican proposal for Phase 3 of the government’s stimulus response to the coronavirus (COVID-19) emergency. The rush summary describes certain key portions of that proposal that we think will be of interest to our clients and friends. We cover the return of the money market fund guarantee, lending to and taking equity in distressed companies (including the airlines), small business interruption loans, and tax relief for individuals and businesses. In the interest of time, we are not covering critical portions of the bill, including those that deal with the educational and medical fiscal stimulus, except for the student loan portions.