Cleveland, Ohio 2020-10-17 16:14:03 –
Washington (NEXSTAR) —It was a wild week of development surrounding another round of federal coronavirus bailouts expected to include a second direct payment to Americans.
Problem: These developments have not led to the bipartisan consensus needed to make money for those who need it.
When the Senate returns to Washington on Monday, majority leader Mitch McConnell will promote a “skinny” COVID-19 bailout bill aimed at helping companies hit. The bill, which includes an additional $ 1,200 direct payment pushed by President Donald Trump, is in stark contrast to the much larger package that shows divisions between Democrats and Republicans, as well as within GOP leadership. ..
When McConnell announces his bill, it’s mostly symbolic. Democrats are on record saying they are not interested in a small-caliber approach to virus relief.
Last month, the Democratic Party submitted a Republican-draft aid bill, which did not include another round of direct payments to Americans.
Mnuchin told CNBC Wednesday that the pre-election coronavirus bailout bill could be a problem, if not unlikely.
“At this point, it will be difficult to get something done and do it before the election,” Mnuchin said.
Mnuchin said progress had been made on certain issues, but “far away” on other issues.
“Don’t wait for the big bang, where everything is perfect,” Mnuchin told CNBC. “I disagree with the speaker’s approach that we have to do everything or nothing. We are continuing to negotiate a comprehensive bill, but now we want to fund the economy. . “
According to the Washington Post, Pelosi and Mnuchin discussed spending transactions between $ 1.8 trillion and $ 2.2 trillion on Thursday. Mr. Trump said he would support further, and Republicans “agree” at the town hall with NBC on Thursday.
“They will go,” he told moderator Savannah Guthrie. “I didn’t ask them because I couldn’t get through Nancy Pelosi.”
So far, it seems unlikely that Republican Senators willingly “go.”
Senate McConnell and his colleagues showed little or no interest in a bill larger than the $ 500 billion proposal that will be rolled out next week. Many politicians speculate that Republicans are concerned about cutting large spending bills in a polarized Pelosi just weeks before Senate control falls into the hands of voters.
Along those same lines, experts wonder if Pelosi will sign a contract with the Republican Party within three weeks of the tough presidential election. Stimulation checks have been widely promoted by the Democratic Party, but can also be seen as a presidential victory. When the first round of checks was distributed, Trump’s signature was on each payment. If Trump could distribute a second bailout while people were heading for polls, it would certainly be something to brag about before the election.
In a letter to her, Pelosi said, “Flies in places where they could land on walls or oval offices will raise the market with the president putting his name on a check before the election day. It just tells you what you want. ” A colleague earlier this week.
She defended her hardline position, claiming that Democrats were more leveraged than ever before. However, the risk of appearing empty-handed until next year is very real.
Discussions on the latest potential round of COVID bailouts began in July, collapsed in August, and revived last month. Last week alone, Trump just broke negotiations on Tuesday and revived them towards the weekend. They recreated the crater on Saturday after Trump’s latest $ 1.8 trillion proposal broke out from both Democrats and Trump’s Republican allies.
Republicans are offering smaller, more targeted aid that allows endangered party members to once again support and record aid, even if they are new to Democrats and opposed to Trump. We are back to offer.
“What I’ve heard from Senator McConnell is that I’m happy to pick it up again, and the opposite is what I’ve heard from the President,” said Senator Dick Durbin of D-Ill. “Can the two sit and agree? Isn’t that a breakthrough?”
Some Democrats are confident that Joe Biden is ready to regain the White House and have the ambition to provide Pelosi with help now, rather than the economy continuing to struggle without help until next year. Pressure to make a trade. Pelosi’s reaction was to gather statements from many committee chairs who criticized the administration’s latest offer.
“If Congress doesn’t act, the next president will take over the real turmoil,” said Jason Furman, a Harvard economist who was former chief adviser to President Barack Obama. “If Mnuchin’s offer was passed by the Senate, it would be a huge” if “and much better than waiting to get more in January. “
The Associated Press contributed to this report.
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