Stimulus Bill Is Still Up in the Air As Democrats & Republicans Negotiate

Stimulus Bill Is Still Up in the Air As Democrats & Republicans Negotiate

photo credit: Katherine Welles // Shutterstock

The Democrats are not here for the economic stimulus plan, which has caused the plan to fail for a second time on Monday afternoon.

One key holdup appears to still be roughly $500 billion in funds for loans and loan guarantees for distressed companies, states and localities without enough guidelines or oversight to satisfy Democrats, who seek to prevent bailout for large companies without ensuring that most of the benefits will go to the workers. But pushback from Democrats also has centered on not only the substance of the legislation, but on the process that Republicans used to come up with it as well, arguing that they were locked out of negotiations at the start.

Senate Minority Leader Chuck Schumer struck an optimistic tone ahead of Monday afternoon’s procedural vote that a bipartisan deal could be reached shortly.
“We are very close to reaching a deal. Very close. And our goal is to reach a deal today and we’re hopeful, even confident, that we will meet that goal,” he said
Source: CNN

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