Senate passes $484B coronavirus rescue package
Senate passes $484B coronavirus rescue package
by Susan Ferrechio
| April 21, 2020 05:09 PM
The Senate passed a new small-business and hospital aid package on Tuesday worth more than $480 billion that is aimed at addressing the impact of the coronavirus outbreak.
The measure passed after an hour of debate and a voice vote, which does not require lawmakers to take a roll-call vote.
Congress is in recess due to the coronavirus outbreak.
The measure now heads to the House on Thursday, where it is likely to pass.
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The House will probably take a roll-call vote, Majority Leader Steny Hoyer announced Tuesday. The Maryland Democrat told reporters more than half of all Democrats are likely to return for the vote and that Republicans are also expected to return in large numbers.
The bill includes $321 billion to replenish a small-business funding program that is helping owners avoid closure during the outbreak. It also includes $75 billion to help hospitals treat patients and deal with budget shortfalls, and it includes $25 billion to boost coronavirus testing, including $1 billion to provide free testing for those who cannot afford it.
Finally, the bill provides $60 billion total for disaster loans and grants.
Passage of the measure was delayed for days by Democrats, who fought to include additional money for testing and hospitals and to ensure $60 billion of the small-business funding is fenced off to serve businesses that typically have difficulty obtaining loans.
Democrats took credit for the changes in a joint statement from House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.
“Democrats flipped this emergency package from an insufficient Republican plan that left behind hospitals and health and frontline workers and did nothing to aid the survival of the most vulnerable small businesses on Main Street,” the two leaders said in a statement.
During the debate, Schumer said McConnell tried to “jam through” a bill that did not address “the dire lack of small businesses that are underserved, minority- and women-owned,” among other criticisms of the bill.
"They couldn’t get in,” Schumer said of the small-business program. “Now, they will be because of our work.”
McConnell, however, said the bipartisan deal “contains essentially nothing that Republicans ever opposed” and blamed Democrats for delaying aid critical to keeping small businesses from closing.
The initial $350 billion fund for small businesses ran out last week. Treasury Secretary Steven Mnuchin asked Congress to replenish the program nearly two weeks ago.
“I am just sorry that it took my colleagues in Democratic leadership 12 days to accept the inevitable and that they shut down emergency support for Main Street in a search for partisan 'leverage' that never materialized,” McConnell said.
Sen. Rand Paul, a Kentucky Republican who contracted coronavirus, gave a speech opposing the spending bill and said the country needs to move quickly to reopen commerce. Paul pointed to the nation's $4 trillion debt, which he said would become an unfair burden for the nation's children and grandchildren.
"Our recovery only comes when the quarantine has ended," Paul said. "Sane, rational counsel should push for the quickest end possible."
Paul said he showed up in the Senate on Tuesday so that history could record at least one senator opposing the package, even though he did not block the voice vote.
"I don't want to see the massive accumulation of debt destroy this country," Paul said.
by Susan Ferrechio
| April 21, 2020 05:09 PM
The Senate passed a new small-business and hospital aid package on Tuesday worth more than $480 billion that is aimed at addressing the impact of the coronavirus outbreak.
The measure passed after an hour of debate and a voice vote, which does not require lawmakers to take a roll-call vote.
Congress is in recess due to the coronavirus outbreak.
The measure now heads to the House on Thursday, where it is likely to pass.
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McConnell sets up possible vote Tuesday on small-business aid package
The House will probably take a roll-call vote, Majority Leader Steny Hoyer announced Tuesday. The Maryland Democrat told reporters more than half of all Democrats are likely to return for the vote and that Republicans are also expected to return in large numbers.
The bill includes $321 billion to replenish a small-business funding program that is helping owners avoid closure during the outbreak. It also includes $75 billion to help hospitals treat patients and deal with budget shortfalls, and it includes $25 billion to boost coronavirus testing, including $1 billion to provide free testing for those who cannot afford it.
Finally, the bill provides $60 billion total for disaster loans and grants.
Passage of the measure was delayed for days by Democrats, who fought to include additional money for testing and hospitals and to ensure $60 billion of the small-business funding is fenced off to serve businesses that typically have difficulty obtaining loans.
Democrats took credit for the changes in a joint statement from House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.
“Democrats flipped this emergency package from an insufficient Republican plan that left behind hospitals and health and frontline workers and did nothing to aid the survival of the most vulnerable small businesses on Main Street,” the two leaders said in a statement.
During the debate, Schumer said McConnell tried to “jam through” a bill that did not address “the dire lack of small businesses that are underserved, minority- and women-owned,” among other criticisms of the bill.
"They couldn’t get in,” Schumer said of the small-business program. “Now, they will be because of our work.”
McConnell, however, said the bipartisan deal “contains essentially nothing that Republicans ever opposed” and blamed Democrats for delaying aid critical to keeping small businesses from closing.
The initial $350 billion fund for small businesses ran out last week. Treasury Secretary Steven Mnuchin asked Congress to replenish the program nearly two weeks ago.
“I am just sorry that it took my colleagues in Democratic leadership 12 days to accept the inevitable and that they shut down emergency support for Main Street in a search for partisan 'leverage' that never materialized,” McConnell said.
Sen. Rand Paul, a Kentucky Republican who contracted coronavirus, gave a speech opposing the spending bill and said the country needs to move quickly to reopen commerce. Paul pointed to the nation's $4 trillion debt, which he said would become an unfair burden for the nation's children and grandchildren.
"Our recovery only comes when the quarantine has ended," Paul said. "Sane, rational counsel should push for the quickest end possible."
Paul said he showed up in the Senate on Tuesday so that history could record at least one senator opposing the package, even though he did not block the voice vote.
"I don't want to see the massive accumulation of debt destroy this country," Paul said.
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