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….