•   
  •   
  •   

Politics Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking

22:55  09 october  2020
22:55  09 october  2020 Source:   businessinsider.com

House Democrats pass their $2.2 trillion stimulus plan which includes $600 federal unemployment benefits and direct payments

  House Democrats pass their $2.2 trillion stimulus plan which includes $600 federal unemployment benefits and direct payments The coronavirus relief package is likely to be rejected in the GOP-controlled Senate as many Republicans argue against more federal spending.The legislation passed by a party-line vote of 214-207, with 17 Democrats voting against the package.

Donald Trump wearing a suit and tie: REUTERS/Kevin Lamarque © REUTERS/Kevin Lamarque REUTERS/Kevin Lamarque
  • Trump said he would support a bigger spending package beyond the $2.2 trillion amount that Democrats have put forward.
  • "I would like to see a bigger stimulus package, frankly, than either the Democrats or the Republicans are offering," Trump said in a radio interview.
  • But Trump's demands for a bigger aid package collide with the economic impulses among Republicans, who tend to favor targeted bills that cost less.
  • Visit Business Insider's homepage for more stories.

President Donald Trump said he would support a larger stimulus package beyond the amounts that both parties have put forward so far.

What Donald Trump and Joe Biden Have Said About a Second Stimulus Check for Americans

  What Donald Trump and Joe Biden Have Said About a Second Stimulus Check for Americans Both candidates are expected to discuss the pandemic and the economy during the first presidential debate Tuesday night.Both candidates have voiced support for a second one-time direct payment in recent months, but it does not appear to be an integral part of Biden's economic recovery plan for the country.

"I would like to see a bigger stimulus package, frankly, than either the Democrats or the Republicans are offering," he said in an interview on conservative radio host Rush Limbaugh's program. "I'm going the exact opposite now."

"I'd like to see a bigger package," he said. "I'd like to see money going to people."

Trump's remarks come as the White House prepares a $1.8 trillion stimulus package to Democrats, The Washington Post reported. It would be the administration's biggest offer yet and an increase from a $1.6 trillion plan they put forward last week in negotiations between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi.

"Covid Relief Negotiations are moving along. Go Big!" Trump wrote in a tweet.

But it's not yet clear what details vary between their newest plan and the last one. Larry Kudlow, a top Trump economic advisor, told reporters on Friday the new plan would contain another round of direct payments, federal unemployment benefits, small business aid, and an airline rescue without elaborating further.

Trump’s Shift on Stimulus Leaves Republicans Skeptical, Divided

  Trump’s Shift on Stimulus Leaves Republicans Skeptical, Divided President Donald Trump’s embrace of a bigger stimulus package then previously backed by the administration has left Republicans skeptical and Democrats holding out for more. © Bloomberg John Thune Trump urged GOP lawmakers to go for a bigger coronavirus stimulus, saying he liked “the larger numbers” in a compromise $1.5 trillion stimulus plan from a bipartisan group of House lawmakers. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.

Trump abruptly ended the talks with a series of tweets on Tuesday, three days after he urged Congress to pass a stimulus bill. It set off several days of headspinning developments with the White House cutting off talks, only to restart them shortly after and aggressively push for a new federal rescue pacakge.

The Democratic economic aid bill includes another round of $1,200 stimulus checks to taxpayers and a revival of the $600 in weekly federal unemployment benefits through the end of January. It also provides aid to cash-strapped state and local governments, as well as small businesses.

But Trump's demands for a larger package collide with the economic inclinations of many Republicans. Many GOP senators opposed a $1 trillion spending plan earlier this summer, citing their concern over the swelling deficit. It's not clear how much support a deal struck between Pelosi and Mnuchin would draw from Republicans on Capitol Hill.

Trump’s Hurdles to Stimulus Climb After Abrupt Tactical Shift

  Trump’s Hurdles to Stimulus Climb After Abrupt Tactical Shift (Bloomberg) -- President Donald Trump scrapped fiscal stimulus talks this week after failing to swing Senate Republicans behind a package Democrats could support. With negotiations back on, the obstacles are just as daunting. Treasury Secretary Steven Mnuchin heads into weekend negotiations with House Speaker Nancy Pelosi with the top-line number for relief fast approaching the $2 trillion level that many Senate Republicans say they cannot accept.Mnuchin has already alienated some in his party by moving toward policies in the House Democrats’ $2.2 trillion proposal that they oppose.

"I've got a significant percentage of my members who think we've done enough and who are alarmed by the amount of national debt," Senate Majority Leader Mitch McConnell said at a campaign event in Kentucky Thursday. He threw cold water on Friday regarding the prospect of a stimulus package before the election.

Many experts are urging lawmakers to approve more federal spending as the economy shows signs of slowing down. The US still hasn't recovered half the jobs it lost in March and April, and permanent layoffs are rising. The unemployment rate stands at 7.9%.

Read the original article on Business Insider

Fact check: Biden voted to tax Social Security, wants to reform retirement benefits .
As a senator, Joe Biden voted to tax Social Security benefits. As a presidential hopeful, he does not propose taxing property or retirement accounts.The former senator from Delaware was also the deciding vote in raising the Social Security tax rate to up to 85% in 1993, according to the meme.

usr: 1
This is interesting!