Senate unanimously passes $2T coronavirus stimulus package

Source: Politico | March 25, 2020 | Jordain Carney

The Senate unanimously passed a massive stimulus package late Wednesday night in an effort to jumpstart an economy decimated by the coronavirus pandemic.

The bill provides more than $2 trillion for workers, small business and industries impacted in recent weeks by the virus.

Senate Majority Leader Mitch McConnell (R-Ky.) compared the efforts by Congress to combat the coronavirus to being on a “war-time footing.”

“This is not even a stimulus package. It is emergency relief. Emergency relief. That’s what this is,” McConnell said Wednesday afternoon ahead of the vote.

But the bill marks an unprecedented attempt by the federal government to revive the economy and prevent a deep recession. The 2008 Troubled Asset Relief Program (TARP), by comparison, was $700 billion.

Congress has been under intense pressure to pass a third round of coronavirus relief funding as the United States saw a steady uptick of cases, which has rattled the markets and upended day-to-day American life. The Senate’s vote comes one week after they passed a $104 billion “phase two” coronavirus package.

The 96-0 vote came only 20 hours after congressional leaders and Treasury Secretary Steven Mnuchin announced that they had clinched an agreement after more than four days of around-the-clock negotiations that kept lawmakers in the Capitol late into the night every day since Friday.

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  •  EVERYDAY #36642

    I have mixed feelings about this. I know people and businesses have been devastated financially by this outbreak and I do feel for them. But $2 trillion? And for all we know, it could be a lot more. Bottom line is that we simply cannot afford this.

    Now this will have to go to the House and who knows what they will add to it? I heard rumors that in a number of drafts, there was an overload of pork that had nothing to do with the coronavirus. My guess is that a Democrat-controlled House will want to throw in a lot more.

    And I am concerned that our medical facilities and staff will get little to nothing. There are critical shortages of medical supplies, equipment and personnel. Is there any funding for those things?

    I don’t know. This throwing around of our taxpayer dollars is not sitting well with me. I just can never trust government to do the right thing — ever!

     Consistent #36654

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