A NEW Senate plan would guarantee pay checks for people who have been laid off or furloughed during the coronavirus crisis.

The plan would cover up to $90,000 in wages per person, according to a Vox report.

The Paycheck Security Act – which comes from Senators Bernie Sanders, Mark Warner, Doug Jones and Richard Blumenthal – would help fund part of a company's payroll costs.

However, it would only do so if the business can show that it has suffered a 20 per cent month-over-month drop in earnings.

The potential bill hopes to keep workers employed so that they can return to work once the economy is up and running again.

To qualify for the funding, companies would have to maintain worker pay and benefits and offer to bring the employees back that have been laid off.

Sanders told Vox: "We need some simplicity and efficiency.

"If I lost my job and I'm trying to get through to unemployment, I can't make that connection, because they are overwhelmed."

Warner added: "If a business has lost 50 per cent of their revenues and they have 50 per cent of their revenues coming in, and that 50 per cent is letting them pay their workforce, you don’t want to overly subsidize that ongoing operation."

The act could also cover some operational costs for up to six months.

The funding would be available for companies of all sizes, however those who have 18 months of average payroll on hand in cash will not be eligible for the grants.

The money will be sent out via a partnership with the Treasury Department and the IRS.

The news comes as Americans started receiving their $1,200 stimulus checks this week.

On April 11, the first wave of coronavirus relief money has been deposited into taxpayers' bank accounts

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