Mitch McConnell announces that the Senate will go into electoral recess and will not resume activities until November 9. This is the news for the last week of October.
While the U.S. is experiencing a third spike in infection due to the pandemic, all indications are that negotiations for a new economic bailout have once again stalled.
More than five months have passed since negotiations began in Congress to approve a new economic bailout; however, to date – October 28th – the results continue to be nil, as Democrats seek a comprehensive $2.2 billion package, while Republicans lean toward a lower-cost package.
And although both parties had been having significant disagreements, in recent weeks, House Speaker Nancy Pelosi had been optimistic about passing a bailout before the November 3 presidential election.
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However, everything seems to indicate that this will not be possible, since, a few days ago, various media reported that the Senate majority leader, Mitch McConnell, had advised the White House not to reach an agreement until after the presidential elections.
Now, almost a week after the event, McConnell has made it known that the Senate will go into electoral recess and will not resume activities until next November 9th, so negotiations on the new bailout are once again at a standstill.
For her part, Pelosi mentioned that she is willing to negotiate even after the elections, adding that she would not wait for the new Congress to take office, even if the Democrats win and take control of the Senate and the White House, since the faster the bailout is approved the better since most of the remaining benefits of the CARES Act expire next December.
Negotiations with Pelosi and News
Pelosi is willing to negotiate after the elections and would not wait for the new Congress to take office.
The approval of a new economic rescue with relief for the coronavirus continues to be a topic of conversation in the United States, since, more than five months after the beginning of the negotiations in Congress, the meetings continue to show no results.
Democrats and Republicans continue to blame each other for the stalled negotiations. The Democrats want to pass a comprehensive package, while the Republicans want a lower-cost package, so both proposals have been blocked by opponents in the respective houses of Congress.
The Republicans blocked the $2.2 billion Democratic bill, the HEROES Act, while the Lower House blocked the lightweight version of the HEALS Act proposed by the Republicans in the Upper House.
Currently, and in order to move on the negotiations, the White House has launched a $1.9 billion proposal; therefore, the House leader is negotiating with Steven Mnuchin, Secretary of the Treasury and representative of the White House.
While the decision to approve or deny a new bailout is purely up to Congress, Trump said he could convince Republicans in the Senate to vote in favor of the $1.9 trillion proposal if a deal is reached with Pelosi.