The GOP stimulus proposal is nearly a third of the price tag of Biden's plan. Here's what's missing.

• Last week, a group of 10 Republican senators introduced a $618 billion stimulus proposal to counter the $2 trillion plan President Joe Biden introduced.
• There are notable ommissions in the GOP plan, including a federal minimum wage increase, extended unemployment insurance, and aid to renters.
• Biden will meet with the Republican group on Monday to discuss the proposal, but he has made it clear that he will not break down the plan for bipartisan approval.

A group of 10 Republican senators introduced a stimulus proposal last week to counter the $2 trillion plan President Joe Biden already proposed. The GOP plan totals to an estimated $618 billion - nearly a third the size of Biden's proposed aid package.

Led by Sen. Susan Collins of Maine, the Republican group is set to meet with the president on Monday to discuss the elements of their plan, and in their letter to the president, they expressed the desire to work with Biden on developing a proposal that will get bipartisan approval.

"We recognize your calls for unity and want to work in good faith with your Administration to meet the health, economic, and societal challenges of the COVID crisis," the letter said.

However, Biden and his administration have already made it clear that they will not break apart their plan for the sake of bipartisanship, with White House Press Secretary Jen Psaki saying at a press conference that Biden is not looking to split up the stimulus package.

—Jen Psaki (@PressSec) January 28, 2021

Here are the main elements missing or downsized in the Republican stimulus proposal:

$1,400 stimulus checks

While Biden has called for $1,400 stimulus checks to be delivered to Americans, the GOP plan cut that check down to $1,000. The $1,000 checks would also start diminishing in value for those making above $40,000 a year in income, instead of $75,000 a year.

Monthly child benefits

Biden proposed a fully refundable child tax credit, and Democrats have begun drafting legislation to give families $300 each month in child tax credits. Experts have disagreed on the merits of a fully refundable, monthly credit, and the GOP plan cuts monthly benefits for children out entirely.

$15 federal minimum wage increase

Since it was introduced, a minimum wage increase has been a contentious issue in Congress, with conservatives arguing that increasing the minimum wage will damage the labor market. Biden has remained firm in a minimum wage increase, but it was expected that Republicans would not include that provision in their plan.

Extended unemployment insurance

The GOP plan includes $300 a week in unemployment insurance through June 30. In contrast, Biden proposed $400 weekly benefits that would extend through the end of September.

Funding to reopen schools

Given that schools have been virtual since the beginning of the pandemic, Biden proposed $175 billion to get children back into K-12 classrooms. The Republican-led plan includes $20 billion to carry out that same effort.

Rental assistance

In his first week in office, Biden signed an executive order to extend the eviction moratorium in an effort to aid renters during the pandemic, and he called on Congress to provide further aid in rental assistance. The GOP plan did not include any funding for renters.

The Republican stimulus plan also includes $160 billion for pandemic response measures like vaccinations and testing, along with $12 billion in nutrition funding.