Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

U.S. House passes Democratic COVID-19 aid plan after bipartisan deal proves elusive

Published 10/01/2020, 09:00 AM
Updated 10/02/2020, 01:42 AM
© Reuters. FILE PHOTO: U.S. House Speaker Pelosi and Senate Minority Leader Chuck Schumer (D-NY) speak to reporters after their coronavirus relief negotiations with Mnuchin and Meadows at the U.S. Capitol in Washington

© Reuters. FILE PHOTO: U.S. House Speaker Pelosi and Senate Minority Leader Chuck Schumer (D-NY) speak to reporters after their coronavirus relief negotiations with Mnuchin and Meadows at the U.S. Capitol in Washington

By Susan Cornwell and David Morgan

WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday approved a $2.2 trillion Democratic plan to provide more economic relief from the coronavirus pandemic, as a bipartisan deal continued to elude House Speaker Nancy Pelosi and the White House.

Objections from top Republicans are likely to doom the House Democrats' plan in the Senate. Senate Majority Leader Mitch McConnell has called the $2.2 trillion price tag "outlandish," although Democrats have reduced the cost of their proposal by over a trillion dollars since May. The House vote was 214-207.

No Republican voted for the Democratic plan, although 18 Democrats voted no, many of them moderates from swing districts who have been urging Pelosi to bring a bipartisan proposal to the House floor.

"Today’s package is another partisan exercise that will never become law," Representative Abigail Spanberger, one of the Democrats who voted no, said.

Republican President Donald Trump's negotiating team has suggested a $1.6 trillion response, and the White House on Thursday dismissed Democrats' $2.2 trillion plan as not serious.

Pelosi and Treasury Secretary Steven Mnuchin have talked every day this week, including a 50-minute phone call Thursday, in an effort to negotiate a bipartisan aid package to respond to the economic fallout from a pandemic that has killed more than 207,000 Americans and thrown millions out of work.

Congress and the White House approved more than $3 trillion worth of coronavirus relief measures earlier this year, but Mnuchin, as well as members of Congress from both parties, have argued more stimulus is needed.

Asked if there would be a resolution to her negotiations with the administration on Thursday evening, Pelosi told reporters, "No." She gave no details of their talks but said: "Even if we came to some agreement, nothing is agreed to until everything is agreed to. It's the language."

In the absence of a deal with the White House, and with lawmakers preparing to leave Washington for the remaining weeks of the 2020 presidential and congressional campaign, the Democratic-majority House went ahead and passed the Democrats' proposal.

"Frankly if we had reached a bipartisan agreement...we wouldn't have this bill on the floor," House Majority Leader Steny Hoyer said. "But we also want to let the American people know where we stand."

Pelosi and Mnuchin differed over aid to state and local governments, Democratic demands for a child tax credit and stronger worker safety protections, healthcare provisions and help for small businesses.

After Pelosi and Mnuchin's phone call Thursday afternoon, Pelosi's deputy chief of staff Drew Hammill wrote on Twitter: "The two discussed further clarifications on amounts and language, but distance on key areas remain."

White House spokeswoman Kayleigh McEnany dismissed the Democratic proposal as "not a serious offer."

Pelosi said of the White House proposal on Bloomberg TV: "This isn't half a loaf. What they're offering is the heel of the loaf."

Republican Senator Mike Braun told CNBC on Thursday that a deal worth over $1.6 trillion could be rejected by one-third to one-half of Senate Republicans. That would still allow a bill to pass with support from Democrats.

© Reuters. U.S. House Speaker Pelosi participates in a news conference at the U.S. Capitol in Washington

Lawmakers and securities analysts viewed talks as a last-gasp effort to secure relief ahead of the Nov. 3 election for tens of millions of Americans and business including U.S. airlines, which have begun furloughing over 32,000 workers.

Latest comments

so what is next? can the deal still happen?
💯🇺🇲
We know your plan 💀🇺🇲
look at where the Dems want to out the money. no wonder Wallstreet, big tech, big pharma, and the corrupt love the left
put the money. big finger, big...shoes
We need to remove Pelosi, Schumer and McConnell from office ASAP! Theh are three of the most evil people on Earth!
Whomever gave a thumbs down is what’s wrong with this world!
OMG when we will know the decision?
Mitch is desperate to up it to 1.6 trillion. Nancy is disingenuous about getting it done at this time. they could have at least agreed to a skinny for the airlines
The airlines have already got billions this year! And then they turned around and laid everyone off regardless! They’re not job creators - they need to sink or swim. This is a demand issue.
Mitch didn't up it at all. The $1.6T comes from the WH because they think they can get it through the Senate. I doubt that it will ever happen because neither side wants to be the one to look weak.
Everything is on hold waiting for Biden to condemn antifa.
You mean Trump and Proud Boys?
Can we just get some movement please? This is ruining my condors.
Don't you want the market to stay flat with your condors? 🤔
I guess Wall Street like Biden since the debate. Have you ever seen what happens when grain is added to a hog's trough.
Stop the dem pork...eat more chicken
The do nothing DEMOCRATS ride again. ❌🚷 for Joe
Bi-partisan congress caucus should add a trillion dollar to their $2.2 stimulus package to give handouts to businesses and it will be signed today.
Mnuchin never even said where the last $500B slush fund for businesses went when those sources were audited. There is zero accountability for business loans right now. Remember Kodak?
The three biggest problems in American politics is BIDEN, PELOSI AND SCHUMER. That's over a Century of politics, and what is their biggest accomplishments, STALL TACTICS.
No.. the biggest problem is TRUMP and his misfit band of followers!
Try it.
You can't type the word M u s l i m without getting censored.
AOC having vetoed business wanting to build in Queens, now sees a way to enhance her Green Deal. Fail to negotiate on stimulus. Does she really want to see LGA close?
do you think Trump or the Senate is going to approve spending knowing that they can possibly be out of office in two months doubt it
Waiting for the millionaires to bail us out is kinda like waiting for the arsonist to put out the fire.
11th hour? how many hours are there?
Leave your radical froth at the door
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.