Tags: Coronavirus | trump | pelosi | mcconnell | stimulus | covid

Trump, Pelosi, McConnell Offer Different Stimulus Predictions

Trump, Pelosi, McConnell Offer Different Stimulus Predictions
(Drew Angerer/Getty Images)

By    |   Friday, 30 October 2020 04:12 PM

President Donald Trump and congressional leaders continued to be on different wavelengths Friday with regards to the likelihood of a benefits package to aid the country recover economically from the impact of the outbreak of the novel coronavirus.

While Trump predicted a ''tremendous'' bill, Senate Majority Leader Mitch McConnell, R-Ky., suggested it may come around New Year’s Day and House counterpart Nancy Pelosi, D-Calif., made it sound like it would probably come around inauguration day.

''We will have a tremendous stimulus package immediately after the election,'' Trump said to a gaggle of reporters outside the White House before leaving for a series of campaign rallies.

The Coronavirus Aid, Relief and Economic Security, or CARES, Act, adopted in late March was a $2.2 trillion package that included direct payments to most taxpayers as well as assistance to businesses. It also offered enhanced unemployment compensation. But many of the provisions expired at the end of July.

Proposals to extend some of the benefits and add others have been debated by Republicans and Democrats since.

The Democrats originally demanded a $3.4 trillion package of benefits, while the Republicans initially offered a much more targeted proposal of $1 trillion.

The White House had offered a $1.8 trillion package in one of its most recent proposals  while the House Democrats revised their offer to $2.2 trillion.

McConnell in September had enough votes to pass a $500 billion package, 52-47, but the party line vote failed to get the necessary 60 on a procedural vote to advance the bill to the floor.

National Economic Council Director Larry Kudlow last week said there were ''considerable policy differences,'' such as the Democrats' demand for funding for municipal and state governments and direct payments to illegal aliens.

''We probably need to do another package, certainly more modest than the $3 trillion Nancy Pelosi package,'' McConnell said Thursday on ''The Hugh Hewitt Show,'' a syndicated radio show. ''I think that will be something we’ll need to do right at the beginning of the year, targeted particularly at small businesses that are struggling and hospitals that are now dealing with a second wave of the coronavirus.''

Pelosi echoed Kudlow’s remarks in an interview on MSNBC saying there were major ''differences of opinion'' between the House and Trump administration.

''Certainly (we) will have something at the start of the new presidency,'' she said, adding she expected Democrat Joe Biden to win. ''We don’t want to have to wait that long, because people have needs.''

© 2020 Newsmax. All rights reserved.


   
1Like our page
2Share
Politics
President Donald Trump and congressional leaders continued to be on different wavelengths Friday with regards to the likelihood of a benefits package to aid the country recover economically from the impact of the outbreak of the novel coronavirus.While Trump predicted a...
trump, pelosi, mcconnell, stimulus, covid
413
2020-12-30
Friday, 30 October 2020 04:12 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved