Home Business Senate to vote on $500 billion GOP coronavirus stimulus invoice Wednesday

Senate to vote on $500 billion GOP coronavirus stimulus invoice Wednesday


Senate Majority Chief Mitch McConnell (R-KY) walks to his workplace on Capitol Hill in Washington, September 10, 2020.

Joshua Roberts | Reuters

The Senate will vote on a $500 billion coronavirus stimulus invoice on Wednesday, Senate Majority Chief Mitch McConnell mentioned Saturday, as a bigger bipartisan deal stays elusive regardless of continued talks between high Democrats and the Trump administration.

McConnell blamed his opponents throughout the political aisle for the present stalemate, arguing that the Senate has sufficient time to move the GOP stimulus package deal and make sure Supreme Court docket nominee Amy Coney Barret if “Democrats don’t hinder this laws.”

“No one thinks this $500B+ proposal would resolve each drawback endlessly,” McConnell mentioned in a press release on Saturday. “It might ship enormous quantities of extra assist to employees and households proper now whereas Washington retains arguing over the remainder.”

Democrats have accused McConnell of pushing forward with Barrett’s affirmation as an alternative of specializing in passing stimulus laws. Democrats blocked a $500 billion Republican plan within the Senate final month and can doubtless dismiss the latest GOP proposal as inadequate.

The possibilities of Congress passing new support earlier than the Nov. 3 presidential election have dimmed because the Senate GOP plan is extra restricted than what the Trump administration or Democrats have proposed.

The GOP invoice will embrace funding for faculties, expanded unemployment advantages and a second spherical of the Paycheck Safety Program, McConnell mentioned. The Senate will vote on the invoice a day after a standalone vote on extra PPP funds on Tuesday.

Earlier this month, Treasury Secretary Steven Mnuchin supplied Home Speaker Nancy Pelosi a $1.8 trillion stimulus deal, about $400 billion lower than the invoice proposed by Home Democrats earlier this month.

Pelosi, whose get together handed a $2.2 trillion reduction invoice within the Home, dismissed the White Home proposal and mentioned it “amounted to 1 step ahead, two steps again.” Senate Republicans, alternatively, oppose the White Home package deal as too giant.

Pelosi and Mnuchin continued their negotiations this week, although they had been unable to achieve an settlement. Either side characterised the talks as productive however mentioned main variations stay.

Congress hasn’t pushed by way of new reduction laws in months because the coronavirus worsens throughout the U.S. and hundreds of thousands of Individuals stay unemployed.

— CNBC’s Jacob Pramuk contributed reporting


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