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Senate Democrats and Republicans say they are eager to pass a third coronavirus economic stimulus bill in a rushed fashion, despite some substantive policy disagreements. “I tasked a bipartisan team to reach an agreement by the end of the day today,” Senate Majority Leader Mitch McConnell said on Friday morning. Senate Republicans on Thursday announced …
Senate Democrats and Republicans say they are eager to pass a third coronavirus economic stimulus bill in a rushed fashion, despite some substantive policy disagreements.
“I tasked a bipartisan team to reach an agreement by the end of the day today,” Senate Majority Leader Mitch McConnell said on Friday morning.
Senate Republicans on Thursday announced a $1 trillion stimulus plan to combat the economic damage caused by the effort to control the coronavirus.
The measure includes a plan to help individuals and families below a certain income by sending them direct cash payments of $600-$2400, $300 billion worth of loans for small businesses to keep people employed and assistance for industries directly threatened by the pandemic, and $50 billion in loans for airlines and $150 billion for “other eligible businesses,” which likely includes the cruise ship and hotel industries.
Senate Minority Leader Chuck Schumer pushed back against the Republican plan, saying it didn’t go far enough and didn’t prioritize the right people.
“Now, Sen. McConnell’s bill is not pro-worker at all. It puts corporations ahead of people. We need workers first,” said Schumer after a Senate meeting to discuss the legislation on Friday morning.
Schumer said that the Republican bill wouldn’t give hospitals much money as they face a growing crisis. He added that Democrats wanted full unemployment insurance for workers that have been laid off to ensure that workers keep getting money so long as they are unemployed, not just a one-time payment. The New York Democrat also said that more help was needed for paid family leave and paid sick leave.
Regarding loans and aid to industries affected most by the pandemic, such as the airline and hotel industries, Schumer said the federal government would not bail them out “unless they are worker-friendly.”
Schumer said that if such industries were to get federal dollars, “the money goes to workers, employees, and no stock buybacks — none of that is in [McConnell’s] bill. We’re going to fight hard to get them in the bill, and get it done.”
After the Senate meeting to discuss the legislation on Friday morning, McConnell said that Treasury Secretary Steven Mnuchin had lobbied for passage of the measure Monday.
