World USA: Democrats draw up new stimulus package

11:30  25 september  2020
11:30  25 september  2020 Source:   pressfrom.com

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House Democrats could introduce a smaller stimulus bill next week. The new relief package will amount to around .4 trillion, acting as an updated version of the .4 trillion HEROES Act passed by the House earlier this year, according to several Democrats .

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HEALTH-CORONAVIRUS-USA-CONGRESS: USA: Democrats draw up new stimulus package


WASHINGTON (Reuters) - The Democratic group in the US House of Representatives has started working on a new $ 2.2 trillion stimulus package that could be voted on next week, Richard Neal, chairman of the Ways Commission, said Thursday. and Means.

Nancy Pelosi, Speaker of the House, for her part, reiterated that she was ready to negotiate with the White House. Formal talks on the recovery plan for the US economy, battered by the coronavirus crisis, have stalled for more than a month and a half.

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While putting more stimulus into the economy has bipartisan support and the backing of Trump, the The House plans to return to Washington Thursday for a formal vote. The latest package would provide Democrats also sought and won measures aimed at ensuring that businesses without

The initiative of the Democratic Party, majority in the lower house of Congress, was launched this week after the intervention of Jerome Powell, chairman of the Federal Reserve, who called on elected officials to further stimulate the recovery, said Richard Neal .

"The contours are already there. I think it is now a question of timing (...) Since the House will have to suspend its work for the electoral cycle, I think that next week would be the right time", a he continued, referring to the presidential election of November 3.

Kevin McCarthy, leader of the House Republican group, condemned the initiative. The centrist wing of the Democratic Party pushes Nancy Pelosi to opt for a more consensual approach that has a chance to overcome the parliamentary obstacle.

"If it's a communication exercise, it's irrelevant," said Dean Phillips, Democratic Representative for Minnesota, on CNN. "A lot of us are fed up."

The Democratic initiative, however, briefly reacted to Wall Street, where the S & P-500 index reached a high in the session on Thursday before erasing part of its gains.

(David Morgan and Susan Cornwell, French version Jean-Philippe Lefief)

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This is interesting!