Talk about collapse again! Impasse in US stimulus bill negotiations

category:Finance
 Talk about collapse again! Impasse in US stimulus bill negotiations


Affected by the negotiations, the three major indexes closed down slightly on October 21, including the S & P 500 index down 0.23%, the NASDAQ index down 0.28%, and the Dow Jones index down 0.35%.

Make good progress

On October 21 local time, meadows said the talks had made good progress, but there were still billions of dollars of differences between the two sides.

The main difference between the two sides is that the Democratic Party hopes to provide assistance to the state and local governments, especially in blue states, where the epidemic is more serious; increase taxes on enterprises and cut taxes on the poor, with a scale of about 246 billion dollars. Both are strongly opposed by Republicans. However, both sides agreed to give relief directly to the people. The Democratic Party believed that the amount was consistent with the previous stimulus bill, which was $600 per person per week, while the Republican Party insisted on $300 per person per week.

According to trumps previous statement, the White House is willing to support the $1.88 trillion stimulus bill, but is not willing to increase the scale.

The difference between the two parties also lies in whether to provide free virus testing measures. Pelosi said Republicans made unacceptable changes to the original bill, including expanding the scope of virus detection, tracking and treatment. Other issues that have not yet been agreed include childrens tax credits and expanding unemployment benefits.

Even if trump Timothy munuchin and Pelosi reach an agreement, Republicans in the Senate are likely to be able to kill it, according to a white house source.

According to the Washington Post, Senate Republican leader McConnell has warned the white house not to approve the deal with the Democratic Party before the election unless the confirmation vote of Supreme Court candidate Amy coney Barrett is completed. Barrett nominated the Senate to vote on October 26, us time.

Trump himself said in an interview with Fox television that he expected a bigger stimulus bill than the Democratic Party is currently proposing. Not every Republican agrees, but they will, he said. I want to make it bigger.

Time stalled again

But Pelosis advice was suppressed.

Patrick McHenry, a senior Republican congressman from North Carolina, said Pelosi didnt want to pass anything at all: the stimulus bill will accumulate political capital for the president. So she put forward the most radical provisions so that the bill could not be passed. In fact, she is clear in her mind that she will not be able to pass this bill even if it is postponed to next year.

McConnell agreed, tweeting: Speaker Pelosis desperate action has kept Americans waiting for months. We urgently need Congress to agree on what we can do, get the money out now, and then continue to debate the wish list.

It is the working class in the United States that has suffered the most from the stalemate between the two parties. As the new crown epidemic has not been effectively curbed, the current unemployment and bankruptcy situation in the United States has not been effectively improved. The most important thing is speed, if Congress doesnt act, the next administration will take over a real mess, says Jason Furman, a former senior adviser to Obama and an economist at Harvard University. The content on this website (including but not limited to words, pictures, audio and video), except for reprint, are all copyrights of time online. Without the authorization of written agreement, it is forbidden to reprint, link, paste or use in other ways. Those who violate the above statement will be held responsible. For other media, websites or individuals, please contact Mr. Ding of this website: [email protected] Zheng Yuanjie, real name reporting / real name whistleblowing Kwai Chung, has been reading for nearly 100 million yuan. The P2P lending agency has been reduced to 6 loans and has been declining for 27 consecutive months. The fastest Tencent in Hongkong will become the biggest winner in November. Yang Bin_ NF4368

It is the working class in the United States that has suffered the most from the stalemate between the two parties. As the new crown epidemic has not been effectively curbed, the current unemployment and bankruptcy situation in the United States has not been effectively improved.

The most important thing is speed, if Congress doesnt act, the next administration will take over a real mess, says Jason Furman, a former senior adviser to Obama and an economist at Harvard University.