With stock markets reeling, businesses scrambling, and the American public fearful as the coronavirus spreads, Washington, D.C., has rapidly come around to the idea that sweeping action—in the form of a government stimulus plan—is needed to mitigate the virus’ effects on the economy. The question now
With stock markets reeling, businesses scrambling, and the American public fearful as the coronavirus spreads, Washington, D.C., has rapidly come around to the idea that sweeping action—in the form of a government stimulus plan—is needed to mitigate the virus’ effects on the economy.
While they may still be apart on the specifics, the White House and Republicans and Democrats on the Hill are in agreement that any stimulus plan will have to come together very quickly—likely within the next two weeks. Democratic committee chairs emerged from a meeting with Pelosi on Monday night vowing to move this week on bills designed to bolster the economy, reported CNN, though it’s unclear what form those bills will take yet.
With talk about a possible stimulus gaining steam in the White House over the weekend, on Sunday night, Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer released a joint statement setting a benchmark for what Democrats will support in any future action to take on the coronavirus. “If it’s just tax relief for industries, which really translates to tax relief for stockholders, I'm going to be troubled by that,” said Rep. Dan Kildee . “The combination of direct relief to people who are at most risk not only deals with the economic question, but also makes it easier to engage in practices to limit the spread.”
As House Democrats grappled with the idea of working with Trump on a possibly fraught stimulus plan, congressional Republicans—historically wary of anything tagged with that word—grappled with reconciling the president’s desires and their own instincts.
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