LIVE: McConnell Says Any Deal on Stimulus Unlikely Before Election | Happening Today

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

  • Biden and Trump Spar Over Fracking at Final Presidential Debate
  • Biden at Presidential Debate: ‘I’ll Choose Science Over Fiction, Hope Over Fear’
  • Trump Defends Pulling Out of Paris Climate Accord at Presidential Debate
  • Bloomberg QuickTake: Now published this video item, entitled “LIVE: McConnell Says Any Deal on Stimulus Unlikely Before Election | Happening Today” – below is their description.

    (Oct. 9) Senate Majority Leader Mitch McConnell said the differences are likely too big and the time is too short for Congress to agree on a new comprehensive stimulus package before the election, despite President Donald Trump’s renewed interest in striking a deal. “I believe that we do need another rescue package, but the proximity to the elections and the differences of opinion about what is needed are pretty vast,” McConnell said at an event in his home state of Kentucky. He also said that while both sides agree on the need for aid to U.S. airlines, that too is unlikely to happen in the next three weeks. After announcing Tuesday he was ending negotiations with House Speaker Nancy Pelosi, Trump shifted direction on Thursday and signaled that the administration is again leaning toward a large-scale stimulus bill. But McConnell’s remarks suggest Senate Republicans may be as big an obstacle to a deal as Pelosi. McConnell has said that there are members of his GOP majority who think the government has already provided enough stimulus. Pelosi and Democrats are pursuing a $2.2 trillion boost to the economy. Treasury Secretary Steven Mnuchin has countered with a proposal for about $1.6 trillion. But McConnell highlighted the “narrowly targeted” GOP package of about a half-trillion dollars that Democrats blocked as insufficient. Mnuchin told Pelosi in a 40-minute call Thursday that Trump wants agreement on a comprehensive stimulus package, according to Drew Hammill, a Pelosi spokesman. White House spokeswoman Alyssa Farah said the administration has “made very clear we want a skinny package,” though she said later that the White House was “open to going with something bigger.” She reiterated opposition to the $2.2 trillion plan from House Democrats. The signals from the White House on a stimulus have helped push the S&P 500 and Nasdaq 100 higher. But there has been plenty of doubt in Washington about reaching a deal. Along with McConnell’s remark, Pelosi sent a letter to House Democrats Friday morning saying the differences are philosophical as well as fiscal. “The Administration does not share this priority of crushing the virus. The President does not have the capacity, leadership or plan for testing, tracing, and isolation that is needed,” Pelosi wrote. “Instead, Trump’s delay, denial, distortion of reality and disdain for science has exacted a deadly and preventable human toll.” The negotiations are proceeding against a frenzied backdrop, with the president recuperating from Covid-19 and the final stretch of the election campaign under way. Pelosi and Trump publicly questioned each other’s ability to perform their jobs on Thursday. The House speaker said Thursday there could be no action on a stand-alone bill to aid airlines or any other sector of the economy without an agreement with the White House and Republicans on a broader stimulus package. Pelosi said airline aid could move through Congress before a comprehensive deal is voted on — but that would have to be advanced in the “context” of a broader bill. “I have made the case to my colleagues that this is a special case,” Pelosi said on Bloomberg TV. “There is no stand-alone bill without a bigger bill,” she said. Pelosi has also said this week she is pressing for language that would limit Trump’s ability to divert virus testing and treatment funds to other projects.

    Bloomberg QuickTake: Now YouTube Channel

    Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

    In This Story: COVID-19

    Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

    Symptoms of coronavirus

    The main symptoms of coronavirus are:

    • a persistent new cough (non productive, dry)
    • a high temperature (e.g. head feels warm to the touch)
    • shortness of breath (if this is abnormal for the individual, or increased)

    Latest News about Covid-19

    Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.

    5 Recent Items: COVID-19

  • Trump, Biden clash over coronavirus, economy and more in final presidential debate | HIGHLIGHTS
  • Trump vs Biden: Highlights from the final Presidential debate |
  • COVID-19 surges in Texas, Michigan, Utah, Montana
  • In full: Trump and Biden in final US presidential debate | US Election 2020
  • LIVE: Biden and Trump Face Off in Final Presidential Debate in Nashville
  • In This Story: Nancy Pelosi

    Nancy Patricia Pelosi is an American politician serving as a congresswoman from California and the speaker of the United States House of Representatives. A member of the Democratic Party, Pelosi is the only woman in U.S. history to serve as Speaker and the highest-ranking female elected official in United States history. She is also the dean of California’s congressional delegation. As House speaker, Pelosi is second in the presidential line of succession, after the vice president.

    Books #Ad

    2 Recent Items: Nancy Pelosi

  • Nancy Pelosi says Russia is the ‘villain’ after FBI links Iran to election interference
  • Pelosi Skeptical About Iran Election Interference: ‘Russia Is the Villain’
  • Leave a Comment