Republicans want a 1/2 Billion dollar standby fund to be under control of only Trup’s Treasury Dept….
Democrats will NOT go along with THAT…
A Sunday morning meeting between the top House and Senate leaders and Treasury Secretary Steven Mnuchin ended without any breakthrough.
One key sticking point is a $500 billion pool of money for loans and loan guarantees that Republicans want to create, which some Democrats are labeling a “slush fund” because the Treasury Department would have broad discretion over who receives the money. There is little precedent for a program with a similar size and scope.
“They’re throwing caution to the wind for average workers and people on Main Street and going balls to the wall for people on Wall Street,” Sen. Joe Manchin (D-W.Va.) said of Republicans.
Senate leaders said they were still talking after spending two days trying to arrive at a bipartisan agreement. But the implications for the standoff became more dire as fears about the economy intensify and many households and business owners are looking to Washington for answers. Underscoring the spreading dangers, Sen. Rand Paul (R-Ky.) on Sunday became the first senator to announce he had tested positive for covid-19.
Senate Majority Leader Mitch McConnell (R-Ky.) said a procedural vote would go forward as planned Sunday afternoon to move forward on the Senate GOP’s $1.8 trillion bill, but Democrats have refused to back that legislation, complaining it disproportionately helps businesses….
Yesterday’s vote on cloture (47-47) was along party lines (R for, D vs) with only a handful of exceptions.
The Democratic caucus of 47 (45 D & DFL + 2 Ind.) all voted against cloture, except Bernie Sanders (ind-Vt) for some reason I don’t know. The 47th vote was cast by Mitch McConnell (R-Ky) solely (I think) for the parliamentary purpose of being able to vote on any possible reconsideration.
The 53 members of the GOP caucus and no Democrats voted for cloture with the exceptions of Sen. McConnell and five no-shows or non-voters: Rand Paul (Ky), Mike Lee & Mitt Romney (Utah), Cory Gardner (Colo) and Rick Scott (Fla). Rand Paul is recovering from an infection of Covid-19 causing Lee and Romney, who had been in relatively-close physical proximity to Paul, to quarantine themselves. I don’t know about Gardner and Rick Scott (Tim Scott of S.C. voted for cloture).
https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=116&session=2&vote=00077
How low can you go ?
Dow Jones Industrial Average Index
Index: DJI
18,333.08
▼ 840.90 (4.39%)
March 23, 11:56 AM EDT
High 29,551.42
on Feb 12, 2020
That’s a 38% drop from the year’s high:
i.e,, $10,000 invested in a DJ Index fund on Feb. 12 (less than 6 weeks ago) is now worth only $6,200.
When this all gets “resolved”, Rand Paul ought to be brought up on Ethics charges.
He gets himself tested and then decides to spend time at the Senate gym and the pool.
Why the hell were those things even open?
As long as GOPer’s need him inn the Senate he’s home free…