Home Economy McConnell Moves on Quick Aid Vote While Pelosi Urges More Cash

McConnell Moves on Quick Aid Vote While Pelosi Urges More Cash

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Senate Majority Leader Mitch McConnell pressed ahead with his plan for a quick vote Thursday on a $250 billion boost in a small business aid program, putting him at odds with the two top Democrats in Congress, who want to double the size of an interim stimulus package.

McConnell has offered an amendment to the record $2.2 trillion pandemic response package to boost the total available to the Paycheck Protection Program for small businesses to $600 billion.

His plan for quick Senate approval by unanimous consent rests on no objections being raised by Democrats after Senate Minority Leader Chuck Schumer and House Speaker Nancy Pelosi proposed adding $100 billion for hospitals and $150 billion for state and local governments.

The next stimulus package “must provide transformational relief as the American people weather this assault on their lives and livelihoods,” the Democratic leaders said.

Pelosi said later Wednesday that McConnell’s plan wouldn’t win quick passage in the House by Friday.

“The bill that they put forth doesn’t have, will not get unanimous support in the House. It just won’t,” she said in an NPR interview.

Treasury Secretary Steven Mnuchin on Wednesday said he still hopes Congress will approve the additional funds he requested for the small business program. In a CNBC interview he promised small firms that “we will not run out of money.”

The White House opposes the more expansive plan offered by Schumer and Pelosi, but President Donald Trump said he is still hopeful that an agreement can be reached to boost the small business aid funding. Additional rescue money can be dealt with later, he said.

“We have” a “pretty good understanding with Democrats,” he said without directly addressing the Democratic plan. “We can do a phase four and a phase four would be later.”

Schumer and Mnuchin spoke Wednesday about the more expansive Democratic plan, the minority leader’s spokesman said without elaborating. Doug Andres, a spokesman for McConnell, didn’t respond to a question about whether negotiations with Schumer are continuing.

In a conference call with House Democrats Wednesday, Pelosi said leaders were still trying to work out what might be possible to pass in both chambers on an expedited basis.

House Democrats may not be the only hurdles to quick passage of McConnell’s plan for additional small business funding.

Rep. Thomas Massie, a Kentucky Republican who two weeks ago forced House lawmakers to return to Washington to vote on the $2.2 trillion stimulus, indicated Wednesday on Fox Business News that he could do it again.

Massie said lawmakers should be on the record with their votes, and said Pelosi should consider changing House rules to allow remote voting. She has opposed such a change.

“I’m against the bill, but the main thing that I’m against is letting Nancy Pelosi do it in the House on her own without members being accountable,” Massie said. “The Constitution requires at least half of them to vote on this.”

Under the Democrats’ proposal Wednesday, half of the small business assistance — or $125 billion — would be channeled through community-based financial institutions that serve companies owned by farmers, families, women, minorities and veterans.

Businesses have rushed to tap the $350 billion loan program that was part of the massive $2.2 trillion stimulus passed by Congress in response to the economic crisis spawned by the coronavirus pandemic.

Stay-at-home orders across the country have particularly squeezed small businesses, which account for almost half of U.S. private employment.

As of midday Wednesday, there had been more than 381,000 applications processed totaling $100 billion from more than 3,600 lending institutions, according to the SBA. That amount hasn’t been given to firms yet, but rather is the value of loans registered for lenders to complete the process and disburse funds.

Absent from their proposal on Wednesday were provisions that Schumer and Pelosi had previously called for in a follow-up stimulus package to the plan passed late last month.

In addition to an extension of the PPP program, Pelosi also proposed including an extension of the expanded unemployment insurance and more direct payments to individuals. She has estimated the bill would cost at least $1 trillion.

Republicans have thus far been reluctant to enact a wide-ranging phase four stimulus bill. Now that they and their core business supporters such as the U.S. Chamber of Commerce are demanding an infusion for PPP, Democrats could have leverage to obtain more unemployment insurance and direct payment for workers.

Pelosi would have to weigh such an opportunity against the political costs of delaying aid to small businesses.

While there is support among Senate Democrats for expanding the Paycheck Protection Program’s funds, they want assurances that the pool of lenders in the program is broad enough that small businesses aren’t subjected to biases based on sex, race or other factors, according to a Senate Democratic aide. The aide added that community banks, microlenders and other sources should supplement the efforts of major banks.

Schumer separately on Tuesday unveiled his own plan for a next stimulus package. It would include a massive “Heroes Fund” to give hazard pay of up to $25,000 each for workers including grocery store employees, transit workers and pharmacists who are risking their lives to stay on the job amid the coronavirus outbreak. That is also likely to have a price tag in the hundreds of billions of dollars.

via newsmax

10 COMMENTS

  1. Democrates are only trying to FUCK the american people. States like Illinois, California and New York are giving FEDERAL dollars to Illegal’s. They are giving OUR tax dollars to Illegals and TAKING MONEY AWAY FROM LEGAL BIRTHRIGHT CITIZENS. This is what Pelosi and her fucked up demwits are fighting for, ILLEGALS….This is fucked up Pelosi…….These Socialist NAZI demwits don’t want to help americans they are for everyone else BUT AMERICANS..Send these asswipes packing in November. They will DO ANYTHING TO DEFEAT TRUMP and that INCLUDES cheating IN ELECTIONS. Just look what Clinton did to Bernie Sanders with the help of the democratic establishment.. Don’t let them cheat…

  2. Nancy Pilosi who’s 80 years old (!) is braking rules and traditions non stop. She held on to the articles of impeachment for three weeks instead of passing them on to the Senate the next day, further deepening the country’s division, but she didn’t care, just as a nasty Grandma would do. Then she delayed the $2.2 trillion rescue package by a whole week insisting on measures totally unrelated to the Corona virus, deepening the crisis and possibly killing some people. But she didn’t care! Now she wants to make all the demands for the next round all by herself without a proper vote. If no one from her own party stands up to her, a majority of them will loose their seats. Because she’s 80 years old with her future behind her! Just a nasty, selfish Grandma.

  3. Peelousy just wants to give illegals money trying to buy votes.Hope everyone see through this and vote for TRUMP by the millions! Knock that bit*h out for once and for all with her croked buddies.

  4. Yes, pelosi wants another 150 billion for Cities and States so they can use it for paying illegals just like the mayor of Chicago just did. If Pelosi wants OVER SITE, she needs to look no further then the abuse done by Federal Tax monies just being thrown at Cities or States with no restrictions. That is exactly why these states and cities need more federal assistance, simply because they have access to Federal Funds.

    You would think that after people would see what is really taking place with so many examples of Pelosi’s, Schumer’s et al scams where they don’t even try to hide them. Openly fund Abortion Clinics, Openly fund illegals, Openly fund Non Profits that are politically bias. When are the people going to say enough is enough.

  5. To all those who want to give away federal money to illegals , the answer is NO. If you want to give money to illegals then let it be your own money not mine. Why do you think so many illegals come here because they can live here for FREE, to much is given away. They even know they don’t have to work and they get a home, food, kids go to school all free . they don’t pay one cent . All these free things have to stop. So if You Mayors , Governors want to give my money that I pay taxes with you are wrong, use your own Money and I give you the OK to do that.

  6. I have been aware of the Democrat party, for years, channeling billions to illegals for years in order to garner their votes…which certainly goes to prove, that the left, liberals, Democrats et al, don’t really care about illegals at all….as long as the successfully attain the votes. To take this a step further, the illegals don’t care if the are being used as tools ⚒️ by the aforementioned, as long as they receive the desired benefits. The only reason the Democrat party exists is because they have been directly responsible for creating the underclass and the welfare state, one feeding off the other!!

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