McConnell Says Senate Will Vote On $500B Relief Package; Pelosi Rejects

Tyler Durden's Photo
by Tyler Durden
Tuesday, Oct 13, 2020 - 12:35 PM

Update (1235ET): Unsurprisingly, House Speaker Nancy Pelosi (D-CA) continues to hold out for a comprehensive deal which includes bailouts for terribly run Democratic cities and states, telling her caucus she has 'no intention to meet McConnell in the middle' on a carve-out, or 'skinny' deal.

*  *  *

Update (1207ET): McConnell says that Republicans will try 'one more time' on a stimulus deal before the election.

*  *  *

Senate Majority Leader Mitch McConnell (R-KY) says the Senate will vote on roughly $300 billion $500 billion in "new funding" for the Paycheck Protection Program (PPP) aimed at helping struggling small businesses, as early as next week, according to Politico's Jake Sherman.

We can only assume there will be some carve-out for airlines.

"When the full Senate returns on October 19th, our first order of business will be voting again on targeted relief for American workers, including new funding for the PPP," said McConnell, adding "Republicans do not agree that nothing is better than something for working families. The American people need Democrats to stop blocking bipartisan funding and let us replenish the PPP before more Americans lose their jobs needlessly"

"There is no excuse for Democrats to keep blocking job-saving funding for the Paycheck Protection Program," McConnell said in a Tuesday statement. "Democrats have spent months blocking policies they do not even oppose. They say anything short of their multi-trillion-dollar wish list, jammed with non-COVID-related demands, is "piecemeal" and not worth doing."

Meanwhile, some Democrats have turned on House Speaker Nancy Pelosi after she rejected President Trump's $1.8 trillion COVID relief offer after telling his team to "go big" during negotiations.

Pelosi panned the offer, calling it "one step forward, two steps back." Instead, she's demanded that Trump revamp the White House proposal.

"Tragically, the Trump proposal falls significantly short of what this pandemic and deep recession demand," she said in a Tuesday letter. "Significant changes must be made to remedy the Trump proposal’s deficiencies."

"A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up," she added.

According to the Daily Mail, however, Democrats want Nancy to stop playing politics with relief for Americans.

"Nancy Pelosi take this deal! Put politics aside people are hurting," tweeted former presidential candidate Andrew Yang on Saturday.

Rep. Ro Khana (D-CA) wrote "People in need can't wait until February," adding "1.8 trillion is significant & more than twice Obama stimulus. It will allow Biden to start with infrastructure."

And left-leaning podcast host Dan Pfeiffer of 'Pod Save America' tweeted "While there are potential risks, Democrats should aggressively pursue a COVID Relief deal with Trump," adding "It's the right thing to do, but the politics can also work in our favor."

Unfortunately for struggling Americans, Pelosi seems more concerned with handing Trump a win going into the election.