WILL STIMULUS WAIT TWO MORE MONTHS
November 3, 2020 - Douglas Myser
Will stimulus wait two more months. The latest conflict over America's next stimulus package doesn't just have to do with how much it cost or what it contains. The conversation, just days before the election has turned into whether a package is needed at all before the election, as politics has entered the fray. Senate Majority Leader Mitch McConnell stated that a much narrower bill than the one currently under negotiations should pass. "We probably need to do another package, certainly more modest than the $3 Trillion dollars Pelosi package. I think that'll be something we'll need to do right at the beginning of the year," McConnell said on a radio show with conservative host Hugh Hewitt. McConnell seemingly referred to the House of Representatives Heroes Act from May 15. On October 1st, the House passed a revised version of the bill for $2.2 trillion. Certainly we'll have something at the start of the new presidency, but we don't want to shortchange the people's needs, Pelosi said in an interview. Will stimulus wait two more months.
" We will have a tremendous stimulus package immediately after the election," Trump said to reporters. Earlier in the week, Trump seemingly based his commitment on the condition that he'll win and the House of Representatives and Senate have Republican majorities. Former Vice President and presidential candidate Joe Biden--who also has a stimulus plan--is currently ahead in the polls. As Senate Majority Leader McConnell didn't oppose the current $1.8 trillion stimulus package being hammered out by Pelosi and treasury Secretary Mnuchin, who represents the White House Administration, passing a bill shortly after the election faces hurdles. Agreeing on a final bill is one of them. The transition to a new term of government is another. Known as "lame duck" the period between November 4 and January 19, 2021 is a notorious dead zone when it comes to passing new legislation, with the exception of emergency measures like avoiding a government shutdown on December 11. Will stimulus wait two more months.
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