Schumer Says McConnell Is ‘Biggest Obstacle’ to Covid-19 Stimulus

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 Wins Transition Access as Trump Yields on Process; Covid Passports Piloted: World Brief
  • Coronavirus: China Could Supply Vaccine to Hong Kong, Says Carrie Lam
  • Hong Kong Leader “Willing” to Meet People After National Security Law
  • Bloomberg QuickTake: Now published this video item, entitled “Schumer Says McConnell Is ‘Biggest Obstacle’ to Covid-19 Stimulus” – below is their description.

    Negotiations on a COVID-19 relief bill have taken a modest step forward, though time is running out and President Donald Trump’s most powerful Senate ally is pressing the White House not to move ahead right now. Senate Majority Leader Mitch McConnell told fellow Republicans that he has warned the White House not to divide GOP lawmakers by sealing a $2 trillion relief deal with House Speaker Nancy Pelosi, D-Calif., before the Nov. 3 election, even as he publicly said he would scheduled any such agreement for a vote. McConnell made his remarks Tuesday during a private Senate Republican lunch, according to three people familiar with his comments. The three were not authorized to public discuss the closed session and spoke on condition of anonymity. The White House said negotiations between Pelosi and Treasury Secretary Steven Mnuchin continue to bring modest progress, and the two were to talk again Wednesday. But veteran lawmakers said there was too much work to do and not enough time to do it to enact a relief bill by Election Day. “We obviously want to have a deal by Nov. 3,” Pelosi said Wednesday on SiriusXM radio. “That really is going to be up to whether the president can convince Mitch McConnell to do so.” McConnell, R-Ky., said the GOP-controlled Senate was not buying the need for legislation as large as Trump wanted. McConnell appears worried that an agreement between Pelosi and Mnuchin would drive a wedge between Republicans, forcing them to choose whether to support a Pelosi-blessed deal with Trump that would violate conservative positions they’ve stuck with for months. McConnell said if such a bill passed the Democratic-run House with Trump’s blessing “we would put it on the floor of the Senate.” Those public remarks came after the private session with fellow Republicans. White House chief of staff Mark Meadows told Fox Business Network on Wednesday that “we’re still apart. Still a number of issues to work on, but the last 24 hours have moved the ball down the field.” But Senate Republicans were pushing ahead with a procedural vote on a virus proposal with a net cost of about $500 billion. It does not include the $1,200 direct payments that are so important to Trump. Democrats are sure to block the measure as they did last month and Trump himself says it’s not enough. Trump is hoping for an agreement before the election, eager to announce another round of payments going out under his name, but it’s increasingly clear that time has pretty much run out. If he wins, Trump is promising relief. If he loses, it’s unclear whether his enthusiasm for delivering COVID-19 aid will be as strong. “I think Democrats would want to want until the new president is sworn in and do it then and I think Republicans probably would say — unless the economy would take a bad turn between now and let’s say Dec. 1, and there doesn’t seem to be a sign that’s going to happen — but we’d say the economy’s taking care of it,” said Sen. Chuck Grassley, R-Iowa. But Pelosi said she believes McConnell “might not mind doing it after the election.” Recent history suggests that any lame-duck congressional session in the event of a Trump loss would not produce much, though pressure for virus relief is sure to keep building regardless of the election outcome. Pelosi and Mnuchin appear to remain at odds over refundable tax credits for the working poor and families with children, the size of a Democratic-sought aid package for state and local governments and a liability shield for businesses and other organizations against lawsuits over their COVID-19 preparations.

    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

  • Covid Cha Cha: Hong Kong dances into the fourth wave
  • Wuhan, one year on: Breaking down China’s Covid-19 strategy
  • Mock COP26: Young people ‘have the courage’ to bring climate change to the forefront
  • Cross-border transactions as a catalyst for change | FT Big Deal
  • Mandy Moore Was Traumatized by Her Triplet Research for This Is Us
  • In This Story: Donald Trump

    Donald John Trump is the 45th and current president of the United States. Before entering politics, he was a businessman and television personality. Trump was born and raised in Queens, a borough of New York City, and received a bachelor’s degree in economics from the Wharton School.

    5 Recent Items: Donald Trump

  • Trump’s team ‘seem to have uncovered things that look suspicious’: Devine
  • Trump OKs Biden transition, still refuses to concede | US election 2020
  • Biden Wins Transition Access as Trump Yields on Process; Covid Passports Piloted: World Brief
  • ‘Biden apologists’ try to ‘deny Trump his legal rights’
  • US: Trump’s team to cooperate with transition
  • 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

  • McCarthy: The American people have rejected the ‘socialist agenda’
  • Mnuchin, McConnell Want to Tap Unused Fed Funds for Stimulus
  • Leave a Comment