President Donald Trump stood his ground as Democrats tried to take advantage of sick and desperate Americans in order to advance their own agenda – a bold move that is already paying dividends.
The president’s firm position seems to have forced the Democrats to back down as Speaker of the House Nancy Pelosi and Senate Minority Leader Chuck Schumer are signaling surrender in the battle over a crucial coronavirus relief package that was never supposed to be a partisan war.
Democrats are back to the bargaining table after Pelosi delivered her own competing relief bill packed with handouts to Democratic constituencies which didn’t quite work out.
“Republicans had a deal until Nancy Pelosi rode into town from her extended vacation,” Trump wrote on Twitter after
“The Democrats want the Virus to win? They are asking for things that have nothing to do with our great workers or companies. They want Open Borders & Green New Deal. Republicans shouldn’t agree!”
“This will never be approved by me, or any other Republican!” Trump continued.
Schumer, who put on the appearance of being fiercely critical of the Senate bill, seemed strangely willing to meet repeatedly with Mnuchin to hammer out some basic additions to satisfy his caucus.
It was also evident that Schumer was eager to save face, after Democrats were scorched by both sides of the isle for taking advantage of the pandemic.
The Washington Post reports that the White House agreed to some basic concessions, including an “inspector general” who could oversee what Democrats were inaccurately labeling a $500 billion “slush fund” of money, available to corporations hurting six months after the coronavirus shutdown ends, as low- and no-interest loans.
On Tuesday the Senate minority leader delivered a speech in which he said that the two sides have moved from the “5-yard line to the 2-yard line” on an agreement and that he sees no reason they cannot come to a deal on the Senate bill.
The new bill will, reportedly, do away with “means testing” for coronavirus relief checks, extending help to even those who do not make enough to file a Federal tax return, and will increase the amount of money available to hospitals and other healthcare facilities, as reported by NBC News.
While Pelosi remained silent amidst the heavy backlash her completely inappropriate bill received, the Speaker of the house signaled early Tuesday that she’s setting aside her bill as Democrats focus on negotiating the Senate’s package.
“The easiest way to do it is for us to put aside some of our concerns for another day, and get this done,” Pelosi told CNBC’s “Squawk Box.”
Speaking at Tuesday’s White House coronavirus task force briefing, Director of the U.S. National Economic Council Larry Kudlow specifically said the new coronavirus bill working its way through congressional gridlock would total $6 trillion.
This breaks down to $4 trillion in liquidity from the Federal Reserve and $2 trillion in new money. Typical annual appropriations from Congress in a given fiscal year are around $1.2-4 trillion, with total expenditures roughly $4.3 trillion.
“This package will be the single largest Main Street assistance program in the history of the United States,” Kudlow said, adding that negotiations would continue into the evening but that a vote is imminent.
President Trump also sounded off on the progress that has been made “I also want to thank Congress, because whether or not we’re happy that they haven’t quite gotten there yet, they have been working long hours. I’m talking Republicans and Democrats, all of them, the House, the Senate. I want to thank Congress because they are really trying to get there, and I think they will.”