Source: Ryan Saavedra
Democrats blocked a massive $1.8 trillion stimulus spending bill to protect the U.S. economy and provide relief to American families who are suffering as a result of the coronavirus outbreak.
“The fate of a sweeping government rescue package to prop up an economy devastated by the coronavirus pandemic was in limbo on Sunday after Democrats blocked action in the Senate,” The New York Times reported. “The 47-47 vote was a stunning setback for a package that was emerging as the largest economic stimulus measure in modern American history – now expected to cost $1.8 trillion or more.”
The Times noted that the Democrats’ decision to block the bill sent U.S. stock futures tumbling to the maximum limit on Sunday evening. The Times further added that Republicans and Democrats had agreed that the plan was “crucial” to stopping economic fallout from the outbreak of the coronavirus as the bill would have sent $1,200 in direct payments to millions of Americans and would have provided lots of additional benefits.
Townhall political editor Guy Benson reported that Senate sources said that Democrat House Speaker Nancy Pelosi was responsible for tanking the bill.
“Talking to some Senate GOP sources. They seem stunned and angry,” Benson said. “I’m told there was lots of bipartisan input into the legislative outline & emerging specifics – including an agreement in principle on broad strokes. Then Pelosi showed up and threw a partisan grenade.”
“One source thinks D leadership decided crisis provided big opportunity to pack goodies into bill, so bipartisan process/momentum broke down,” Benson added. “Economists believe there is no time for a partisan standoff. But here we are. D’s counting on media cover & ‘corporations’ talking point.”