Sen. Mitch McConnell Proposes $500 Billion Stimulus Plan

Sen. Mitch McConnell Proposes $500 Billion Stimulus Plan

By

Oct. 20 2020, Published 1:26 p.m. ET

For months, House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell have been failing to reach an agreement on a new coronavirus stimulus package. While Pelosi is giving her best efforts to pass a bill closer to her $2 trillion package proposal passed by the House, McConnell is trying to pass a middle-ground package by proposing a $500 billion stimulus bill. 

According to the Associated Press, Pelosi met with Trump’s Treasury Secretary Steve Mnuchin to negotiate a second stimulus package. The Trump Administration has proposed a $1.8 trillion proposal plan, however, it was reported that Pelosi found the bill to be insufficient.  

“Finally, they have come to the table and we’re going to try to get something done,” Pelosi said on MSNBC, adding that they are on a tight deadline to pass a stimulus bill before the November elections. “Let’s make a judgement. We may not like this, we may not like that but let’s see on balance if we can go forward.” 

AP also reports that Pelosi is sticking to her guns as best she can. Her plan is to obtain the best deal possible, whether it’s immediate relief or later relief. McConnell, however, argues her stubbornness is making matters worse.

Article continues below advertisement

“Speaker Pelosi has wasted months playing political games with the health and financial security of American families,” the senator said in a press release. “Republicans have tried numerous times to secure a bipartisan agreement where possible and get aid out the door while these endless talks continue. But Speaker Pelosi keeps saying she feels ‘nothing’ is better than ‘something’ and clinging to far-left demands that are designed to kill any hope of a deal.” 

Within the release, McConnell laid out his $500 billion stimulus proposal which would include the following relief: 

wp content/uploads///Screen Shot    at

Screenshot from Sen. Mitch McConnell’s October 17 press release.

Article continues below advertisement

“Next week, Senate Republicans will move to break this logjam. The Senate will vote on hundreds of billions of dollars for targeted relief programs that Democrats do not even claim to oppose,” McConnell continued. “Nobody thinks this $500B+ proposal would resolve every problem forever. It would deliver huge amounts of additional help to workers and families right now while Washington keeps arguing over the rest.”

Pelosi has said that if an agreement isn’t reached by Tuesday, it is unlikely a stimulus package will be passed. Holding out until after the election could result in a major delay, meaning Americans won’t see relief until 2021. “If we delay this until the Biden administration we’re talking about three, four, five months. The American people cannot wait,”Rep. Max Rose, D.-N.Y told CNN. “With each passing day without action the American people will be suffering more.”

Advertisement

© Copyright 2022 Bleu Mag. Bleu Mag is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.