“We’re not Budding” on the size of the Stimulus package – $ 2.2 trillion or nothing

House Speaker Nancy Pelosi has given a blunt message to her Republican colleagues on the next stimulus package: take it or leave it.

Here you need to know.

Stimulus Package: $ 2.2 trillion or nothing

Congress is on a “tragic deadlock” for the next stimulus package, said California Democrat leader Pelosi. Pelosi told Republicans that there would be no further discussion until Republicans agreed $ 2.2 trillion stimulus package, Which is approx Double The size of the original Republican stimulus proposal is known as the Heels Act.

“We have repeatedly said that we are ready to come down [and] Pelosi told reporters, referring to the Senate Republic, “meet him in the middle. “It would be $ 2.2 trillion. When they are ready to do so, we will be ready to discuss and negotiate. I did not realize it on that call. “

Pelosi: We are not budding

Pelosi referred to the 25-minute call she made with White House Chief of Staff Mark Meadows on Thursday. The phone call was the first discussion on the stimulus package between Democrats and Republicans since August 7, when several Congresses were hoping to pass the next stimulus package. The issue is clear: Republicans are not interested in doubling the size of the next stimulus package. Republicans proposed the Heels Act, a $ 1 trillion stimulus package, as the next stimulus package. In contrast, Democrats proposed the Heroes Act, a $ 3 trillion stimulus bill. While Pelosi wants to meet in the middle, Republicans say they are concerned about total incentive spending, which already exceeds several trillion dollars.

“If they are not ready to meet in the middle, it can be a very short conversation. We are not moving. They have to move forward. “

Stimulus package: 3 possible scenarios

Will Senate Republicans Meet Pelosi’s Ultimatum? Both Meadows and Treasury Secretary Steven Menuchin have said Republicans will not agree to a $ 2 trillion price tag for the next stimulus. Given this deadlock, where do we go from here?

Here are 3 possible scenarios for what might happen next.

1. There is no incentive deal

It is possible that there simply will not be another incentive package. This seems almost unbelievable, given that Senate Majority Leader Mitch McConnell (R-KY) said last month that an incentive deal could be finalized in several weeks. Even though they did not agree on funds and policy priorities, both parties wanted an incentive deal. With 35 senators and all members of the House of Representatives up for re-election this November, it is always helpful for elected officials to return to their districts and provide solid financial relief to their constituents. Without an incentive package, there cannot be a second incentive check or more money for federal unemployment benefits, school openings, payment protection plans, small business loans and coronavirus testing. For a large, comprehensive stimulus package, McConnell needs bipartisan support. However, if both parties cannot agree on total spending, there will not be a large incentive bill.

2. Republicans pass their own stimulus bill

Republicans can pass their own stimulus bill-Without democrats. This was not possible last month as some conservative Republicans opposed another $ 1 trillion in federal spending. Sen. Lindsey Graham (R-SC) then said Fox News That “half the Republicans are going to vote ‘no’ on any more aid. That’s a truth.” Conservatives are focused on limiting federal spending, and note that Congress has responded to previous stimuli in response to the Kovid-19 epidemic. Have spent trillions of dollars. Some conservatives also say that spending more money is not how problems should be addressed.

That said, it is possible that the Senate Republican passed Small Incentive bill, which may please conservative Republicans. If McConnell could get enough Republican support, he could pass a small stimulus bill with Democrats limited to votes. Senate Republicans are working on a new $ 500 billion stimulus bill that includes the following:

However, the new incentive bill No one will join Second stimulation check. Likewise, do not expect any proposal to cancel the student loan.

3. Republicans agree for $ 2 trillion stimulus deal

Finally, Republicans may agree to a $ 2 trillion stimulus package to appease Pelosi and Senate minority leader Chuck Schumer (D-NY). While not impossible, it is very unlikely. Senate Republicans would be open to a $ 1 trillion stimulus package, if Democrats agree. So, either Democrats agree on $ 1 trillion or Republicans agree on $ 2 trillion (or they compromise on another number). Otherwise, a deadlock is likely to continue in September.

Next steps: Where do we go from here?

Based on Pelosi’s comments, either Republicans have to agree to his proposal or they can pass their own legislation on the Senate floor. Currently, Congress is on leave, although members can return to Washington with 24 hours notice. The Senate has a holiday until 8 September and the House of Representatives until 14 September. Senate Republicans may introduce a new stimulus bill earlier this week. While this would not cover every democratic priority, would it be enough to satisfy the American people and provide the necessary financial relief?

Related resources

Will Biden’s Kamala Harris Pick Promote Monthly Incentive Check?

Why did you get $ 500 promotion this week

$ 300 a week unemployment benefit can start here

Will you get a second stimulus check in Trump’s executive order?

This second incentive check will pay the most

When will my second stimulation check come?

Trump: I’m ready to act on incentive checks, rental assistance

Trump suspended student loan payments until December 31

New stimulus today: second stimulus investigation, unemployment benefits and more

15 Secrets to Refinancing Student Loans

Second Incentive Check: Compared to 4 schemes

Trump: Student loans may be extended for “overtime”

Trump: Second stimulus check may exceed $ 1,200

What does the new incentive package mean for your student loan

Stimulus: Here are the latest numbers for the second stimulation check and more

Second incentive check may be less than $ 1,200

Second Incentive Check: Your Questions Answered

Trump wants at least $ 2 trillion for next stimulus

Do not expect student loan forgiveness in the next incentive bill

Student loan refinance rates are incredibly cheap


Leave a Reply

Your email address will not be published.