Expect a coronavirus stimulus agreement in Senate, Schumer says
Sen. Chuck Schumer, D-N.Y., told reporters early Tuesday that he expects Republicans and Democrats in the Senate to come together and reach an agreement on the $2 trillion coronavirus stimulus package that set off a fierce debate on the Senate floor and allegations from both sides that the other was politicizing the emergency.
Sen. Chuck Schumer, D-N.Y., told reporters early Tuesday that he expects Republicans and Democrats in the Senate to come together and reach an agreement on the $2 trillion coronavirus stimulus package that set off a fierce debate on the Senate floor and allegations from both sides that the other was politicizing the emergency.
Despite the logjam, Schumer, the Senate minority leader, and Treasury Secretary Steven Mnuchin told reporters that there was progress made in late-night negotiations. Schumer said he expects a vote sometime on Tuesday.
One of the key issues in the package is the $500 billion "Exchange Stabilization Fund." Democrats call it a "slush fund," and claim Mnuchin would have far too much influence over which industries would have access to the fund.
Mnuchin denied the claim on Fox Business, saying, "It's not a slush fund; it's a mechanism that we can use working with the Federal Reserve that will provide another $4 trillion of potential liquidity into the market. That’s on top of the Fed’s balance sheet." Click here for more.
Other related developments:
- Pence calls out congressional Dems, says it's time to 'step up' and 'reach an agreement'
- Trump tells Senate to stop playing 'partisan politics'
- Pelosi's coronavirus stimulus includes return of 'Obamaphones,' other unrelated items, GOP says
- Pence calls out congressional Dems, says it's time to 'step up' and 'reach an agreement'
- Trump tells Senate to stop playing 'partisan politics'
- Pelosi's coronavirus stimulus includes return of 'Obamaphones,' other unrelated items, GOP says
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