Congressional Rescue Talks Churn as Crisis Deepens
With a population on edge, all sides were hoping for an agreement that would provide some relief against the pandemic's health and economic crises, now believed likely to stretch for several months
“As President Donald Trump took to the podium in the White House briefing room and promised to help Americans who feel afraid and isolated as the pandemic spreads, the Senate voted Sunday against advancing the rescue package. But talks continued on Capitol Hill.
“I think you'll get there. To me it's not very complicated: We have to help the worker. We have to save the companies," Trump said.”
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“Inside the otherwise emptied out Capitol, the draft aid bill was declared insufficient by Democrats, who argued it was tilted toward corporations and did too little to help workers and health care providers. Republicans returned to the negotiating table.
Treasury Secretary Steven Mnuchin, exiting the Capitol just before midnight, struck an optimistic note: “We're very close," he said, adding negotiators would work through the night.
“Our nation cannot afford a game of chicken," warned Senate Majority Leader Mitch McConnell, R-Ky., his voice rising on the Senate floor Sunday night. His goal is to vote Monday. The Senate will re-convene at 12 noon EST.
Senate Democratic Leader Chuck Schumer, D-N.Y, sounded an optimistic note.
“This bill is going to affect this country and the lives of Americans, not just for the next few days, but in the next few months and years -- so we have to make sure it is good, he said. '"There were some serious problems with the bill leader McConnell laid down. Huge amounts of corporate bailout funds without restrictions or without oversight -- you wouldn’t even know who is getting the money. Not enough money for hospitals, nurses, PPE, masks, all the health care needs. No money for state and local government, many of whom would go broke. Many other things."
But Schumer said they were making progress in dealing with those issues. "We're getting closer and closer. And I’m very hopeful, is how I’d put it, that we can get a bill in the morning.””
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“With a population on edge and shell-shocked financial markets poised for the new work week, Washington labored under the size and scope of the rescue package that's more ambitious than any in recent times — larger than the 2008 bank bailout and 2009 recovery act combined.
Democrats say the largely GOP-led effort did not go far enough to provide health care and worker aid, and fails to put restraints on a proposed $500 billion “slush fund” for corporations. They voted to block its advance.”
BBM / significant imo:
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Democrats won a concession — to provide four months of expanded unemployment benefits, rather than just three as proposed, according to an official granted anonymity to discuss the private talks. The jobless pay also extends to self-employed and so-called “gig” workers.”
“While the congressional leaders worked into the night, alarms were being sounded from coast to coast about the wave of coronavirus cases about to crash onto the nation's health system.
New York City Mayor Bill de Blasio had dire, urgent news from the pandemic’s U.S. epicenter: “April and May are going to be a lot worse,” he said on NBC’s “Meet the Press.”“
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“But Democrats, including House Speaker Nancy Pelosi, have pushed for add-ons, including food security aid, small business loans and other measures for workers.
They warned the draft plan's $500 billion for corporations does not put enough restraints on business, saying the ban on corporate stock buy-backs is weak and the limits on executive pay are only for two years.“
-more at link / informative article imo.
