In a statement Senate Majority Leader Mitch McConnell said that a coronavirus stimulus relief package is “unlikely in the next three weeks.” This comes after optimism about a new package lead to improvements in the stock market and wall street.
Democrats have been pushing for a second relief bill after the first CARES (coronavirus aid, relief, and economic security) act’s benefits dried up in late July. The left has pushed for a new bill in an effort to boost the economy and provide relief for in-need Americans. As of late, the democratic party is trying to cooperate with the White House to pass a last-ditch relief bill.
McConnell has noted that the “situation is kind of murky” as negotiators try to “elbow for political advantage” amidst the election. “I’d like to see us rise above that like we did back in March and April, but I think that’s unlikely in the next three weeks,” McConnell noted in his statement on the matter.
While talk of a new coronavirus relief bill has been going on, the White House and Senate Republicans have been working diligently to push Trump’s Supreme Court Nominee Amy Coney Barrett through.
Democrats on the other hand have ardently maintained that the next president should decide who fills the seat left by late Justice Ruth Bader Ginsburg. Despite this, however, the chamber will move forward with her confirmation hearing in the coming week.
President Trump has expressed his interest in another relief bill. He said “Covid Relief Negotiations are moving along. Go Big!” in a tweet.
Presently talks are underway between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin to formulate an agreement. The bill they are working on would cost an estimated $1.5 trillion. However, even is Pelosi and Mnuchin reach an agreement on a package, it would have to successfully make its way through the Democratic-held House and GOP-controlled Senate.
It is likely that the package would make it through the House, however, Republicans and members of the GOP have expressed discontent at the idea of spending trillions of federal dollars on a relief package.
The situation with the relief package is indicative of the intense divide within the American governmental system. It is becoming increasingly difficult to pass legislation, and political ideologies are growing ever more extreme.
It is clear that America is in need of economic relief as the current recession is one of the worst seen since the Great Depression.