Welp, it appears that the $1.4 trillion “Phase Three” stimulus package was opposed by the Democrats and the GOP-controlled Senate failed to move forward accordingly.
The stimulus package was intended to help families and businesses in need due to the economic downturn caused by the COVID-19 pandemic.
We have about two loaves of bread left… so, I guess we’ll be the first to go.
According to Fox News:
Many Democrats had complained that the draft aid package did not go far enough to provide health care and unemployment aid for Americans, and failed to put restraints on a proposed $500 billion “slush fund” for corporations, saying the ban on corporate stock buy-backs are weak and the limits on executive pay would last only two years.
Democrats also pushed for add-ons including food security aid, small business loans and other measures for workers — saying the three months of unemployment insurance offered under the draft plan was insufficient.
I doubt it was just a coincidence that the bipartisan agreement failed once Nancy Pelosi and Chuck Schumer intervened.
“The build-up to this is that we had a high level of bipartisanship over the last 48 hours… And then, all of a sudden, the Democratic leader and the speaker of the House shows up…and we’re back to square one,” he said, referring to Schumer and Pelosi.
“I want everybody to understand that if we aren’t able to act tomorrow, it’s because of our colleagues on the other side, continue to dicker.”
He then accused Pelosi of overstepping boundaries, saying: “She’s the speaker of the House, not the speaker of the Senate.”
McConnell said the Senate will hold a cloture vote again at a time of his choosing, adding, “hopefully some adults will show up on the other side of the room and understand the gravity of the situation before the markets go down further…we’ve never been confronted by anything like this before.”
Check out what the National Republican Senatorial Committee (NRSC) had to say about this –
New from @NRSC: the previously chirpy DSCC-backed Senate candidates should disavow their benefactor’s shameful decision to thwart the coronavirus relief package pic.twitter.com/MCBtfn7x8y
— Jesse Hunt (@JJHunt10) March 22, 2020
I honestly wouldn’t be surprised if businesses continued per usual despite the pandemic. The economic effects will be far worse than anything this invisible enemy can do to this country.
Schumer suggested that the pushback was due to the lack of accountability and the influx of bailouts the bill proposed… I feel most of us would agree that these aren’t exactly the big picture at the moment. Screw the political gain! The families and businesses are barely hanging on by a string!
Haven’t they literally been negotiating this bill for the past three days?
Here’s what Marco Rubio had to say about this:
The vote tonight was just a procedural vote to position us for quick action on #Covid-19 bill. Anyone who wanted changes still has leverage on the next vote. But it looks like at least for now Democrat’s are going to block it.
Makes no sense.
Time isn’t on our side here. pic.twitter.com/vNGelKRlwj
— Marco Rubio (@marcorubio) March 22, 2020