Trump Echoes Support for New Stimulus Package

Trump Echoes Support For New Stimulus Package

( – The introduction of the CARES Act in March of this year saw financial grants to many American households, along with other measures to mitigate the economic impact of COVID-19. Since then, while there’s been plenty of heated debate about a second relief package, no proposition has had the bipartisan support necessary to pass into law.

What’s the Problem?

Democrats, led by House Speaker Nancy Pelosi (CA), have consistently pushed for more expensive measures than Congressional Republicans were willing to accept. This has led to numerous deadlocks and failed bills.

Senate Majority Leader Mitch McConnell (R-KY), who’s leading the GOP in negotiations, has repeatedly looked for a deal costing around $500 billion. However, other Republicans have stated they would be willing to consider a bill of around twice that value.

What’s Happening Now?

There is currently a proposal worth $908 billion under consideration. This potential stimulus has bipartisan support, with both Nancy Pelosi and Senate Minority Leader Chuck Schumer (D-NY) endorsing it as a launchpad for negotiations.

Pelosi and McConnell met on Thursday, December 3, for the first time since November’s election. They reportedly discussed an omnibus bill that would approve spending in a number of areas. Both parties have indicated they would like to strike a deal before December 11, as there will be a government shutdown after that date if no agreement is reached.

President Trump’s Position

On Thursday, President Trump stated he’s hopeful about the deal about to be discussed in Congress, and indicated he would be eager to sign it into law. This is not the first time the president has made a statement like this. He’s repeatedly made it clear over the last number of months that he wants to see another stimulus package.

It’s obvious, at this stage, that party squabbling has been the reason we’ve had to wait so long for a second round of relief. Since President Trump has voiced his support for a deal, it’s time for Congress to get to work on an acceptable compromise.

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