While small business owners continue to die on the vine, Nancy Pelosi held up a GOP plan for emergency funding to replenish the Paycheck Protection Program (PPP) with a ‘clean’ (pork-free) bill.
Now, Pelosi is champing at the bit to push through a ‘long and expensive wish list,’ of additional stimulus – including $500 billion for mismanaged state and local governments amid the coronavirus pandemic, according to Bloomberg. Democrats also want an extension of expanded unemployment benefits, along with expanded workplace safety protections for front-line workers, and a boost in funding for food stamps.
Senate Majority Leader Mitch McConnell (R-KY), however, isn’t a fan, and has indicated that he will dig his heels in for a massive fight over aid to states and local governments – a top priority for Democrats.
There is a risk that the effort to write a comprehensive rescue bill gets bogged down for months or falters given how far apart both parties are now as well as the increasingly bitter exchanges over what should come next and who will be to blame if the economy doesn’t rebound.
One of the biggest battles ahead will be over aid to state and local governments, which are seeing tax revenue plummet and expenses escalate as a result of the pandemic.
Senate Democratic leader Chuck Schumer told National Public Radio Friday that he believes “there’s enough bipartisan support” for state and local government relief legislation despite resistance from McConnell. –Bloomberg
Schumer thinks McConnell will walk back statements made earlier this week, when he said that struggling states – mostly run by Democrats – should be allowed to go bankrupt. – READ MORE
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