Tag: economic relief bill

Senate GOP struggles to finalize $1 trillion coronavirus bill

Washington Post logoOne influential senator floats fallback option for extending unemployment benefits if they fail to make a deal

Senate Republicans struggled to finalize a $1 trillion coronavirus relief bill Wednesday, confronting internal divisions and continued White House demands for a payroll tax cut that most lawmakers oppose.

Several lawmakers speculated openly that they might be unable to make any deal with Democrats at all, suggesting the possible need for a stand-alone extension of unemployment benefits that expire at the end of this month.

Lawmakers and aides emphasized that their intention was to negotiate and pass a deal with Democrats in the next several weeks. Senate Majority Leader Mitch McConnell (R-Ky.) is readying a bill as a starting point for talks that he had hoped to launch as early as Wednesday, though that timeline slipped to Thursday as internal negotiations bogged down. Continue reading.

McConnell to Trump: Next coronavirus bill must be under $1 trillion

Axios logoDuring a meeting at the White House on Wednesday, Senate Majority Leader Mitch McConnell stressed to President Trump that the next coronavirus relief package cannot exceed $1 trillion, and should be narrowly focused on getting money in people’s hands immediately, sources familiar with the meeting tell Axios.

The big picture: Senate Republicans’ backlash against House Democrats’ $3 trillion bill has been so severe that it has eased pressure on McConnell to act instantly on a “phase 4” bill, and McConnell is focused on ensuring that the next bill is much smaller.

Details: McConnell told Trump the bill needs to be tailored toward short-term economic relief and create incentives for people to get back to work.

  • He said he worries that additional unemployment payments will discourage people from working, and instead suggested supplementing some workers’ paychecks. Continue reading.

Mnuchin sees ‘strong likelihood’ of needing another COVID-19 relief bill

The Hill logoTreasury Secretary Steven Mnuchin on Thursday said there is a “strong likelihood” that another coronavirus relief bill will be needed as more states start to reopen and the economy struggles to stabilize.

“We’re going to carefully review the next few weeks,” Mnuchin said in aninterview with The Hill’s Bob Cusack during a virtual event. “I think there is a strong likelihood we will need another bill, but we just have $3 trillion we’re pumping into the economy.”

“We’re going to step back for a few weeks and think very clearly how we need to spend more money and if we need to do that,” he added. Continue reading.

The 8 key provisions expected in Democrats’ next COVID-19 bill

The Hill logoSpeaker Nancy Pelosi (D-Calif.) and House Democrats are charging ahead this week with the next round of emergency coronavirus relief — another massive, multitrillion-dollar package designed to buttress the economy against the devastating pandemic.

The enormous bill — the fifth legislative response to COVID-19 — could arrive as early as Monday or Tuesday, according to Democratic aides. That sets the stage for a House vote as soon as Friday, Majority Leader Steny Hoyer (D-Md.) has said.

Dubbed CARES 2, the legislation is expected to adhere largely to the contours of the first CARES Act, enacted March 27, by providing help to medical providers, small businesses, workers and families most affected by the crisis. Continue reading.

Rep. Phillips votes for relief package, calls for reforms

WASHINGTON, DC— Today, Rep. Dean Phillips (D-MN) voted for the Paycheck Protection Program and Health Care Enhancement Act, while also calling for much-needed reforms and improvements. The legislation provides $484 billion in additional COVID-19 relief, including funding to replenish the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program for small businesses; important financial aid for hospitals; and investment in COVID-19 testing capacity – a necessary step before re-opening our economy. The Congressman provided the following statement:

“Minnesota’s small businesses are the backbone of our community and our economy, and they need our immediate help during these unprecedented times. The bill on which I voted today will save jobs and the small businesses that create them, and enhance our public health response to the COVID-19 pandemic – but our work is far from over.   Continue reading “Rep. Phillips votes for relief package, calls for reforms”

Battle heats up for phase-four coronavirus relief bill

The Hill logoThe Senate’s passage of a $484 billion coronavirus relief bill on Tuesday is setting the stage for negotiations on an even bigger package that could rival the $2.2 trillion CARES Act passed by Congress last month.

The legislation would funnel tens of billions if not hundreds of billions to state and local governments and could address infrastructure spending and election security.

Speaker Nancy Pelosi (D-Calif.) and Senate Democratic Leader Charles Schumer (N.Y.) on Tuesday called for Congress to begin thinking about “CARES 2” after the Senate deal, while Senate Majority Leader Mitch McConnell (R-Ky.) warned of the growing amount of debt the U.S. is adding, previewing the battle to come. Continue reading.

McConnell sets up Tuesday session, buys time for virus aid deal

Sticking points on aid bill include funding for state and local governments, and how virus testing money would be distributed

Congressional leaders and the White House were unable to reach agreement on a nearly $500 billion coronavirus relief package before the Senate met for a brief session Monday, blowing past a deadline both parties hoped they’d be able to meet.

Negotiations are continuing on outstanding issues, with the Senate now expected to come back into session Tuesday afternoon to try to pass the bill.

“At this hour, our Democratic colleagues are still prolonging their discussions with the administration, so the Senate regretfully won’t be able to pass more funding for Americans’ paychecks today,” Majority Leader Mitch McConnell, R-Ky., said on the floor. Continue reading.

In unprecedented move, Treasury orders Trump’s name printed on stimulus checks

Washington Post logoThe Treasury Department has ordered President Trump’s name printed on stimulus checks the Internal Revenue Service is rushing to send to tens of millions of Americans, a process that could slow their delivery by a few days, senior IRS officials said.

The unprecedented decision, finalized late Monday, means that when recipients open the $1,200 paper checks the IRS is scheduled to begin sending to 70 million Americans in coming days, “President Donald J. Trump” will appear on the left side of the payment.

It will be the first time a president’s name appears on an IRS disbursement, whether a routine refund or one of the handful of checks the government has issued to taxpayers in recent decades either to stimulate a down economy or share the dividends of a strong one. Continue reading.

Pressure for quick action on next relief bill strains GOP unity

The Hill logoThe pressure on Congress to act swiftly on another round of coronavirus relief is creating tension among Republicans.

While some GOP lawmakers are seeking to hold back, at least for now, on charging forward with another massive economic package, others such as Sen. Josh Hawley (R-Mo.) are calling for a rapid infusion of federal aid costing trillions of dollars.

At the state level, Republican Gov. Larry Hogan of Maryland, the chairman of the National Governors Association, is spearheading a push for an additional $500 billion to states. Continue reading.

Senate Democrats unveil $500 billion short-term coronavirus relief plan

The Hill logoSenate Democrats on Thursday unveiled the details of a $500 billion coronavirus relief plan they will offer later in the morning when Senate Majority Leader Mitch McConnell (R-Ky.) requests unanimous consent to provide an additional $250 billion to the popular Paycheck Protection Program.

Democrats, led by Senate Minority Leader Charles Schumer (N.Y.), have proposed $250 billion for the small business loan program, under which employers receive federally backed loans that are 100 percent forgivable if they maintain their payrolls. But half of the amount, $125 billion, is set aside for small banks and credit unions to help better serve woman-, minority-, and veteran-owned businesses.

Sens. Ben Cardin (Md.), the ranking Democrat on the Senate Small Business Committee, and Chris Van Hollen (D-Md.) are expected to offer the plan after they object to McConnell’s request for a straight $250 billion infusion to the Paycheck Protection Program. Continue reading.