Stimulus package:
Lawmakers go back and forth on mammoth bailout measure.
WASHINGTON – A massive stimulus package to blunt the economic effects of the coronavirus failed to pass an initial procedural hurdle Sunday evening by a 47-47 vote.
The motion needed the votes of at least three-fifths of the full Senate.
Speaking on the Senate floor before the vote, Majority Leader Mitch McConnell, R-Ky., suggested the final bill was not yet ready, saying “discussions continue on the package.”
As of Sunday, McConnell called for a bill that would address the needs of individuals and families, deliver relief to small businesses, stabilize the economy and prevent layoffs, and send resources to health care workers and providers.
Senate Minority Leader Chuck Schumer, D-N.Y., had asked for a bill that would boost resources for health care professionals and give more direct payments to workers than Republicans had wanted.
House Speaker Nancy Pelosi had objected to the first version pitched by McConnell, saying it didn’t do enough to protect workers and gave too much to corporations.
McConnell voted “no” Sunday, which allows filing a motion that allows him to bring up the bill again this week.
Earlier Sunday, Sen. Rand Paul, RKy., left the Capitol after learning he had tested positive for COVID-19. Within hours, two other GOP senators – Mike Lee and Mitt Romney, both of Utah – said they would self-quarantine because of their contacts with Paul. Two other GOP senators had previously gone into quarantine because of possible exposure to the virus: Sens. Rick Scott of Florida and Cory Gardner of Colorado.
The developments threatened the GOP’s Senate majority, in a chamber divided 53 to 47.
Here’s what we know about the main sticking points between the parties:
❚ Bailouts for businesses: Democrats want tough provisions to prevent corporations that receive federal bailouts from later engaging in stock buybacks that enrich their executives.
President Donald Trump has expressed support for that approach, and McConnell said his bill already includes Democrats’ demands for conditions on loans and other aide to major businesses. But Democrats say the GOP measures are “weak” and could be waived by Treasury Secretary Steven Mnuchin.
❚ Assistance for individuals and families: Democrats have called for provisions that would temporarily block evictions and foreclosures. They also want additional funding for food stamps and an expansion of unemployment benefits. The GOP proposal currently allows for a three-month expansion of unemployment benefits, and McConnell said the measure provides adequate help for families facing financial distress.
❚ Help for states and hospitals: McConnell said the GOP bill includes $75 billion in a new fund for hospitals and health providers. In all, he said, nearly $200 billion will go to help state and local governments deal with the crisis. Democrats dispute that, saying the measure doesn’t include new money for states and local governments.