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Politics Mitch McConnell torpedoes a stimulus package compromise between the White House and Democrats

21:34  15 october  2020
21:34  15 october  2020 Source:   businessinsider.com

Trump’s confusing back-and-forth on fiscal stimulus, sort of explained

  Trump’s confusing back-and-forth on fiscal stimulus, sort of explained Mitch McConnell is trying to duck a Republican caucus fight, and everyone else is along for the ride.Then, the next morning, he blamed Pelosi for not sending him a bill to sign.

a man wearing a suit and tie: Drew Angerer/Getty Images © Drew Angerer/Getty Images Drew Angerer/Getty Images
  • McConnell effectively torpedoed a stimulus bill ranging between $1.8 trillion and $2.2 trillion that's being negotiated by White House and Democrats.
  • "My members think what we laid out, a half a trillion dollars, highly targeted, is the best way to go. So that's what I'm gonna put on the floor," McConnell told reporters in Kentucky.
  • Trump and McConnell are at odds over a coronavirus relief bill, with the president stepping up his calls in recent days.
  • Visit Business Insider's homepage for more stories.

Senate Majority Leader Mitch McConnell told reporters in Kentucky on Thursday he wouldn't put a relief bill compromise between the White House and Democrats up for a vote on the Senate floor, effectively torpedoing a negotiated stimulus package.

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.

During an event in Kentucky, McConnell was asked whether he believed a compromise was possible in the realm between $1.8 trillion and $2.2 trillion, the price tags under consideration.

"I don't think so… That's where the administration's willing to go," he said.  "My members think what we laid out, a half a trillion dollars, highly targeted, is the best way to go. So that's what I'm gonna put on the floor. "

McConnell referred to the ongoing negotiations between Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin for a coronavirus relief bill. "That's not what I'm gonna put on the floor," he said.

Lawmakers have been discussing second $1,200 stimulus checks for 5 months. Why those payments are still uncertain

  Lawmakers have been discussing second $1,200 stimulus checks for 5 months. Why those payments are still uncertain The coronavirus pandemic has hit Americans' wallets hard. Many are hoping for more financial relief from the federal government, namely second $1,200 stimulus checks. While lawmakers on both sides of the aisle agree on those payments, they're still clouded by uncertainty.Whether that happens or not depends on Congress.

Read more: Here's what could be in Mitch McConnell's $500 billion coronavirus stimulus bill set for a Senate vote next week

McConnell and President Donald Trump are at odds on another coronavirus relief bill just under three weeks before Election Day. The president has ramped up his calls for another large spending package in recent days, and he's repeatedly called to "go big or go home" on a government rescue bill.

Trump did so again during a Fox Business interview on Thursday. "We like stimulus, we want stimulus. We think we should have stimulus," he said, adding Mnuchin "has not come home with the bacon."

Instead, Senate Republicans are putting a $500 billion aid bill on the floor. McConnell suggested it would be similar to one that Democrats blocked in early September. That legislation contained federal unemployment benefits and small business aid, but omitted $1,200 direct payments for taxpayers.

Read more: A $2.5 billion investment chief highlights the stock-market sectors poised to benefit the most if stimulus is passed after the election — and says Trump ending negotiations doesn't threaten the economic recovery

Read the original article on Business Insider

Donald Trump May Target Mitch McConnell, Senate GOP in Stimulus Blame Game if Push Fails .
While President Donald Trump has long been at odds with Democrats over a further relief package, he now faces clashing with lawmakers within his own party.While Democrats have long been a focal point of his ire, lawmakers in the GOP could also be a target should he want to deflect responsibility.

usr: 0
This is interesting!