Even though many states are entering phase 3 of their COVID-19 protocols, the pandemic is still at the forefront of everyone’s minds, keeping the economic recovery slow. That sputtering pace took its toll on the American people, leading to skyrocketing unemployment numbers a $2.2 trillion recovery package. That package included sending $1,200 personal checks to millions of Americans in April, hoping to generate some economic activity. Since then, the virus persisted—as did the circumstances that necessitated the aid—and the question soon became, “will we get more money? And when?”
Negotiations were underway earlier in the week between Democratic Speaker of the House, Nancy Pelosi (California), and Treasury Secretary Steven Mnuchin until Tuesday when President Donald Trump jumped into the fray and told them to call it off. Trump did not go into depth when explaining his reasoning, simply promising a “major stimulus” for the American people “immediately after I win.” His full announcement was issued via Twitter on Tuesday before hours later demanding that congress pass a stimulus relief package.
Nancy Pelosi is asking for $2.4 Trillion Dollars to bailout poorly run, high crime, Democrat States, money that is in no way related to COVID-19. We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith. I am rejecting their request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business. I have asked Mitch McConnell not to delay, but to instead focus full time on approving my outstanding nominee to the United States Supreme Court, Amy Coney Barrett. Our Economy is doing very well. The Stock Market is at record levels, JOBS and unemployment also coming back in record numbers. We are leading the World in Economic Recovery, and THE BEST IS YET TO COME!Donald J Trump via Twitter
The House & Senate should IMMEDIATELY Approve 25 Billion Dollars for Airline Payroll Support, & 135 Billion Dollars for Paycheck Protection Program for Small Business. Both of these will be fully paid for with unused funds from the Cares Act. Have this money. I will sign now!Donald J Trump via Twitter
The only noticeable difference between the stimulus package that the President promised upon his election and the one that he was demanding congress pass immediately is the inclusion of personal checks to American citizens.
There seems to have been miscommunication abound throughout the negotiation process over the past couple of days, with many statements from politicians and news reports seemingly contradicting themselves. In spite of the whirlwind few days, it has become increasingly clear are that the Washington Post was accurate in their reporting that “new sense of urgency from the White House and some congressional Republicans to reach some agreement amid signs the economic recovery is weakening.”
The only thing that can be truly taken at face value is the statement from Pelosi’s counterpart in the Republican Party, Senate Majority Leader Mitch McConnell (R). McConnell succinctly captured the fluid nature of such complicated negotiations when he was quoted as saying, “We’re going to tackle this again. The timing is uncertain based on the proximity to the election.”