Tags: Coronavirus | Financial Markets | Money | john kennedy | relief | bill | stimulus

Sen. Kennedy: 'Less Than 50 Percent' for Another Relief Bill

john kennedy demurs with a reporters recorder in his face
Sen. John Kennedy, R-La. (Alex Brandon/AP)

By    |   Tuesday, 19 May 2020 05:16 PM

There is a "less than 50% chance of passing another bill" providing coronavirus relief, according to Sen. John Kennedy, R-La., who is pushing for states to use the funds already appropriated by Congress to cover the impact on revenue.

"We may not be able to pass another bill," Kennedy said while in a hearing for the Senate Banking Committee, according to The Hill. "Why would we not allow states, without appropriating any new money, to use that money to address revenue shortfalls that you and the chairman of the Fed both agree are going to exist and be substantial?" 

He added, the "game plan" is for Treasury Secretary Steven Mnuchin to meet with House and Senate leaders from both parties to negotiate an agreement that will then be presented to the rest of Congress.

"I think that whatever deal y'all come up with is going to receive serious pushback from both Republicans and Democrats in both houses for a variety of reasons," Kennedy said. "I could, of course, be wrong, but I doubt it." 

Kennedy also pressed Mnuchin to support his bill that would allow state and local governments to utilize the coronavirus relief funding they received last March for operating expenses unrelated to the pandemic.

The secretary said, "if there's bipartisan support for that, I'm sure that the president and I would look forward to that."

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Pushing for states to use the funds already appropriated by Congress to cover the impact on revenue, Sen. John Kennedy, R-La., said there is a "less than 50% chance of passing another bill" providing coronavirus relief.
john kennedy, relief, bill, stimulus, congress
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2020-16-19
Tuesday, 19 May 2020 05:16 PM
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