PRESIDENT Donald Trump is “ready to sign” a new coronavirus stimulus package, according to Mitch McConnell. The Senate Leader claimed that after several conversations with White House officials, “the President is ready to sign” the next stimulus package after putting forward another proposal on Tuesday. Secretary of Treasure Steve Mnuchin confirmed McConnell‘s remarks, saying, “The […]
PRESIDENT Donald Trump is “ready to sign” a new coronavirus stimulus package, according to Mitch McConnell.
The Senate Leader claimed that after several conversations with White House officials, “the President is ready to sign” the next stimulus package after putting forward another proposal on Tuesday.
Secretary of Treasure Steve Mnuchin confirmed McConnell‘s remarks, saying, “The president will sign the McConnell proposal he put forward yesterday, and we look forward to making progress on that.”
Reuters reported that McConnell’s outline is very close to the legislation that the Senate leader has been proposing for months, which was rejected by Democrats.
For months, the Senate Leader has been proposing a “more modest” relief bill in the $500billion range.
According to the outlet, the plan includes $332.7billion in new loans or grants to small businesses.
House Majority Leader Steny Hoyer (D-MD), said he thinks congressional leaders can agree on the outlines of McConnell’s stimulus package by the end of this weekend.
Hoyer also said leaders can pass it through the House Thursday, and admits it is “optimistic”.
“We have an urgent crisis facing the people of our country. I think we can do it and I hope we will do it,” Hoyer said.
When asked about House Speaker Nancy Pelosi and Chuck Schumer‘s Covid plan, Mnuchin said, “I’m not going to publicly comment on that but I did speak to her briefly and there’s also the other bipartisan proposal.”
The new $908billion bipartisan proposal was unveiled Tuesday by lawmakers.
The relief package includes $288billion in small business aid, $160billion in state and local government relief and $180billion to fund a $300 per week supplemental unemployment benefit through March.
According to a draft framework, the package would also put $16billion into vaccine distribution, testing and contact tracing, allocate $82billion into education, put $45billion into transportation and funnel funds for rental assistance, child care and broadband.
However, the major takeaway from this proposal is that it does not include another $1,200 stimulus check to Americans.
The glimmer of hope for a second stimulus package comes after President Trump reportedly “gave his blessing” for a new stimulus deal.
The president reportedly told Mnuchin and White House chief of staff Mark Meadows to work with the Senate to get a new relief bill done.
On Tuesday, McConnell said he was going to drop his new stimulus offer, which he hoped Trump would potentially sign that afternoon.
“We don’t have time for messaging games. We need to get a presidential signature,” McConnell said.
However, Schumer cast doubt on the proposal’s future, saying McConnell had not sought support from Democrats.
“The obvious fact of the matter is the biggest impediment to getting an agreement is the Republican leader refusing to negotiate in a bipartisan way,” Schumer told reporters on Tuesday.
As President Trump and Congress members continue to push for a new stimulus package before the end of the year, Joe Biden has also repeatedly pushed for an “immediate relief”.
After announcing his economic team on Monday, the president-elect delivered hopeful remarks regarding another relief bill, saying his team “will deliver immediate economic relief for the American people”.
“This team is comprised of respected and tested groundbreaking public servants who will help the communities hardest hit by COVID-19 and address the structural inequities in our economy,” Biden said.
Plans for a second coronavirus relief package have also been backed by a group of more than 100 economists, who’ve called the $1,200 stimulus check “essential”.
The major issues that come in the way of an agreement have to do with education funding, money allocated toward state and local government, coronavirus testing and unemployment benefits.
All of the most significant stimulus programs featured in the CARES Act are set to expire on Dec. 31, 2020.
