McConnell Calls on Congress to Focus on Narrow Covid Stimulus
Senate Majority Leader Mitch McConnell said that it was “heartening” that Democrats have embraced a smaller price tag for a stimulus package but gave no indication he was willing to raise his own offer to get a deal.
McConnell again called for passing narrowly targeted relief that focuses on element with broad support -- such as small business aid and funding for vaccine distribution -- while leaving debate on other elements that Republicans and Democrats disagree on for later.
“Compromise is within reach. We know where we agree. We can do this,” the Kentucky Republican said on the Senate floor Thursday morning. “The solution to this impasse has been in plain sight for a long time now for anyone willing to see it,” he said, in comments suggesting no fundamental shift in his own stance.
House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer on Wednesday endorsed using a bipartisan $908 billion relief plan as a basis for new talks with Republicans. McConnell has pushed an alternative that’s along the lines of a previous bill of roughly $500 billion that Democrats called inadequate.
McConnell on Thursday he reiterated criticism of Democratic moves to include what he described as non-coronavirus related items.
“It’s been heartening to see a few hopeful signs in the past few days,” he said. “After months of arbitrary attachment to sky-high dollar amounts,” there is now movement “in the right direction.”
Pelosi and Schumer had pushed for a $2.4 trillion Covid-19 relief plan before the election, and their shift on Wednesday prompted welcoming comments from Republicans as well as Democrats.
“We and others will offer improvements, but the need to act is immediate and we believe that with good-faith negotiations we could come to an agreement,” the two Democratic leaders said in a statement Wednesday.
The state of the economy, the fast emergence of coronavirus vaccines, pressure from party moderates and President-elect Joe Biden’s election all likely influenced the move by Pelosi and Schumer, which was the first real break by either side from long-held positions.
The compromise plan would cover a shorter period of time than the leaders’ earlier proposal, providing aid through the winter, with Democrats hoping the Biden administration will propose another significant relief bill next year.
Congress has a short window to act this year. And it’s still not clear whether President Donald Trump would sign any relief measure beyond what McConnell has already proposed, despite previously endorsing a $2 trillion-plus stimulus. Both parties expect Biden to propose a bigger tranche of spending once he takes office on Jan. 20 as the pandemic continues threatening the recovery.
Covid-19 relief could be attached to a separate omnibus spending bill that lawmakers are hashing out to keep the federal government funded past Dec. 11. The U.S. government has been working under a stopgap measure since the fiscal year began on Oct. 1.
Another stimulus package in 2021 is hardly assured. Republicans will still control the Senate unless Democrats can pull off a longshot bid to win both Georgia Senate seats in a Jan. 5 runoff. Although there is a group of Republicans who would back more stimulus spending, there is also a faction that sees no need for any additional stimulus and McConnell would control the chamber’s agenda if he remains as majority leader.
It’s unclear how much pressure McConnell may face within his own caucus. Four GOP senators including Mitt Romney of Utah and Lisa Murkowski of Alaska worked with a cluster of Democrats on the $908 billion compromise bill, which could be introduced on Monday.
Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30
Connect with us on…
YouTube: https://www.youtube.com/user/Bloomberg
Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews
Twitter: https://twitter.com/quicktake
Facebook: https://www.facebook.com/quicktake
Instagram: https://www.instagram.com/quicktake
Видео McConnell Calls on Congress to Focus on Narrow Covid Stimulus канала Bloomberg Quicktake: Now
McConnell again called for passing narrowly targeted relief that focuses on element with broad support -- such as small business aid and funding for vaccine distribution -- while leaving debate on other elements that Republicans and Democrats disagree on for later.
“Compromise is within reach. We know where we agree. We can do this,” the Kentucky Republican said on the Senate floor Thursday morning. “The solution to this impasse has been in plain sight for a long time now for anyone willing to see it,” he said, in comments suggesting no fundamental shift in his own stance.
House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer on Wednesday endorsed using a bipartisan $908 billion relief plan as a basis for new talks with Republicans. McConnell has pushed an alternative that’s along the lines of a previous bill of roughly $500 billion that Democrats called inadequate.
McConnell on Thursday he reiterated criticism of Democratic moves to include what he described as non-coronavirus related items.
“It’s been heartening to see a few hopeful signs in the past few days,” he said. “After months of arbitrary attachment to sky-high dollar amounts,” there is now movement “in the right direction.”
Pelosi and Schumer had pushed for a $2.4 trillion Covid-19 relief plan before the election, and their shift on Wednesday prompted welcoming comments from Republicans as well as Democrats.
“We and others will offer improvements, but the need to act is immediate and we believe that with good-faith negotiations we could come to an agreement,” the two Democratic leaders said in a statement Wednesday.
The state of the economy, the fast emergence of coronavirus vaccines, pressure from party moderates and President-elect Joe Biden’s election all likely influenced the move by Pelosi and Schumer, which was the first real break by either side from long-held positions.
The compromise plan would cover a shorter period of time than the leaders’ earlier proposal, providing aid through the winter, with Democrats hoping the Biden administration will propose another significant relief bill next year.
Congress has a short window to act this year. And it’s still not clear whether President Donald Trump would sign any relief measure beyond what McConnell has already proposed, despite previously endorsing a $2 trillion-plus stimulus. Both parties expect Biden to propose a bigger tranche of spending once he takes office on Jan. 20 as the pandemic continues threatening the recovery.
Covid-19 relief could be attached to a separate omnibus spending bill that lawmakers are hashing out to keep the federal government funded past Dec. 11. The U.S. government has been working under a stopgap measure since the fiscal year began on Oct. 1.
Another stimulus package in 2021 is hardly assured. Republicans will still control the Senate unless Democrats can pull off a longshot bid to win both Georgia Senate seats in a Jan. 5 runoff. Although there is a group of Republicans who would back more stimulus spending, there is also a faction that sees no need for any additional stimulus and McConnell would control the chamber’s agenda if he remains as majority leader.
It’s unclear how much pressure McConnell may face within his own caucus. Four GOP senators including Mitt Romney of Utah and Lisa Murkowski of Alaska worked with a cluster of Democrats on the $908 billion compromise bill, which could be introduced on Monday.
Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm
Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.
Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30
Connect with us on…
YouTube: https://www.youtube.com/user/Bloomberg
Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews
Twitter: https://twitter.com/quicktake
Facebook: https://www.facebook.com/quicktake
Instagram: https://www.instagram.com/quicktake
Видео McConnell Calls on Congress to Focus on Narrow Covid Stimulus канала Bloomberg Quicktake: Now
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Katie Porter Slams McConnell for Stalling COVID-19 Relief Bill | NowThisFox News books wrong guest, she slams TrumpMitch McConnell confronted by constituent at town hallMcConnell and McGrath face off in Kentucky Senate debateBloomberg Quicktake: Now 24/7 Live Breaking NewsWatch McConnell side against Trump in Senate speechThree high-flying stocks that may be doomed to fall back to earth: DamodaranHouse passes bill for $2,000 stimulus checks, putting GOP senators in a tough positionMitch McConnell blocks Senate Democrats' move to fast track $2000 Covid paymentsStuart Stevens: Republicans Who Won’t Accept Biden Victory Are ‘Cowardly’ | The Last Word | MSNBCMechanisms of Auction Houses. A Guideline for Understanding Auctions and the Art MarketSen. McConnell chokes up during emotional tribute to Sen. AlexanderMcConnell Proposes Trimmed-Down Coronavirus Relief PackageTrump compares 2020 US election to 'third world nation'Problem Solvers Caucus Co-Chairs on $1.52 Trillion Stimulus PlanCongress to Consider Another Covid Stimulus Relief Package Next WeekMcConnell, GOP criticize Pelosi's priorities during presser on stimulusCongress inches towards stimulus deal, Rand Paul says he doesn't support itBernie Sanders gives EPIC Senate speech for $1.9 trillion relief packageDisneyland Shanghai Reopens With Mandatory Tests, Masks