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Senate to vote this week on 'skinny' pandemic relief bill, PPP funds

Published 10/17/2020, 05:54 PM
Updated 10/17/2020, 10:50 PM
© Reuters. FILE PHOTO: US Sentate Candidates debate in Kentucky

By Katanga Johnson and David Shepardson

WASHINGTON (Reuters) - The U.S. Senate will vote on Wednesday on a $300 billion Senate Republican coronavirus relief bill that is far below the estimated $2 trillion that Democrats have demanded.

The bill, dubbed a "skinny" relief bill for its pared-down funding, was already rejected https://www.reuters.com/article/health-coronavirus-usa-congress/u-s-senate-to-vote-on-republican-coronavirus-aid-bill-opposed-by-democrats-idUSL1N2G61U6 by Democrats in September and is again expected to fail.

Senate Majority Leader Mitch McConnell said in a statement Saturday that the vote would follow a standalone vote on additional Paycheck Protection Program (PPP) funds on Tuesday.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke for an hour and 15 minutes Saturday evening and their staff "will continue discussions, and they have agreed to speak again on Monday," Treasury spokeswoman Monica Crowley said on Twitter.

Pelosi spokesman Drew Hammill said that there was progress on coronavirus testing but "there remains work to do to ensure there is a comprehensive testing plan."

He added there are numerous other differences "that must be addressed in a comprehensive manner in the next 48 hours."

Hammill also said "decisions must be made by the White House in order to demonstrate that the Administration is serious about reaching a bipartisan agreement that provides for Americans with the greatest needs during the pandemic."

The White House declined to comment.

On Oct. 10, Mnuchin proposed a $1.8 trillion economic stimulus proposal in talks with Pelosi but many Senate Republicans have balked at a package that big.

Time is winding down before the Nov. 3 presidential election to reach agreement on a new coronavirus relief package.

"These are just some of the urgent needs that Washington should meet immediately while debates continue over the rest," McConnell said.

In September, McConnell estimated the cost of the new PPP program at $257 billion.

Relief plans have remain bogged down over the appropriate amount of funding and related issues like coronavirus testing plans and a Republican push to protect companies from liability if their workers get infected on the job.

© Reuters. FILE PHOTO: US Sentate Candidates debate in Kentucky

Airlines have pleaded with Congress for a new $25 billion bailout to keep workers on the job after a prior six-month payroll assistance program expired on Sept. 30. At least 32,000 airlines workers have been laid off this month after funding ended.

Latest comments

It's been another set of joker pump n dump sessions recently despite GS issued an article weeks ago that there wont be a deal .. sure was funny looking at that article while hearing WS 'hoping' for a deal and market going in circles LOL. -- The skinny is not expected to pass and WS is looking forward to the real MacKoy under Biden. WS ain't care about where the sugar comes from. -- Even Republicans are turning their backs on Trump, a common sense outcome that's expected of decent, hardworking Americans who plan for an orderly future, so that people can focus on their work again instead of getting outraged by Trump's soap opera. Trump has far outstayed his welcome and Americans are seriously tired of him. I certainly had to break multiple special diets in disgust over the first incompetent potus ever, a serious sh. am. e for America.
Pelosi does not want to give Trump a win at the expense of Americans
What Pelosi is doing it is just bad for americans and nobody is getting anything till the spring 2021 by Pelosi’s behavour
skinny is DOA won't make it to a vote.
Cmon man... You know who is the "Big Guy"!
Most don't. It's censored by the "media"
This is just political PR stunt. Pelosi shot down the $1.8T White House package. A $500B package from the Senate definitely will not fly. House, Senate and WH cannot agree on any package. Don't expect any stimulus until well after elections, especially if it is contested.
Then usd Will Go donw ?
No up... Securities will go down. Bonds and Gold to. The only "safe haven" is cash. "Cash is king"
No more heroin - markets crash, then more heroin .... until one day we will have both heroin and crash.
market will never crash~
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