Senate Unable to Reach Consensus between Republicans and Democrats

Last week, Treasury Secretary Steven Mnuchin presented a proposal to boost the US economy during the coronavirus pandemic. This proposal went before the Senate for a vote on Sunday, but faced opposition from Democratic members, resulting in a stall.

The aim of the stimulus package is to inject a significant amount of money into the economy, creating a $500 billion lending program to support businesses, cities, and states. Furthermore, $350 billion would be allocated to assist small businesses in covering payroll expenses. One prominent feature of the package is the plan to send government checks to all American citizens; most adults would receive approximately $1,200, while most children would get $500, providing significant help to families.

However, Democratic senators raised concerns about several shortcomings in the current version of the package. They highlighted that the proposed allocation places excessive emphasis on businesses and corporations, neglecting crucial entities like local governments and hospitals. A major issue is the $500 billion lending program to be managed by the Treasury Department, which some senators have criticized as a “slush fund.”

Senate Majority Leader Mitch McConnell expressed dissatisfaction with Democratic senators, particularly Minority Leader Charles Schumer and Speaker of the House Nancy Pelosi. McConnell criticized Schumer for disrupting the negotiations by not agreeing on a deal that both parties had nearly settled on before Schumer and Pelosi intervened. He mentioned, “Now maybe there’ll be some miraculous coming together tonight, I hope so. If not, we will now be voting at noon rather than 9:45.”