Emergency Economic Rescue Plan in Limbo as Democrats Block Action - News Summed Up

Emergency Economic Rescue Plan in Limbo as Democrats Block Action


“Yes, we can and we should. The nation demands it.”Later as he entered Mr. Schumer’s Capitol office, Mr. Mnuchin said the two were “this close” to a deal, holding up two fingers with scarcely an inch of distance between them. Republicans and Democrats, as well as President Trump, have agreed that the plan is crucial to cushioning the economic blow of the rapidly spreading disease, which has shuttered entire industries, forced workers to stay at home and wreaked havoc in the global markets. It would send $1,200 direct payments to millions of Americans and additional jobless benefits and aid to states, and provide hundreds of billions of dollars for loans to businesses. But as its outlines emerged on Sunday, Democrats denounced the package as a corporate giveaway that favored big business over workers and failed to ensure that bailed-out companies would not enrich themselves after receiving government aid.


Source: New York Times March 22, 2020 20:25 UTC



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