J
Jacob Siegal
Guest
- House Democrats passed a $2.2 trillion stimulus package on Thursday night with a new round of $1,200 checks, money for state and local governments, and improvements to the PPP.
- The updated HEROES Act barely passed the House and unfortunately, it is unlikely to even be voted on in the Senate because Republicans say the price tag is still too high.
- Without more stimulus, the US economy could stall out in the fall ahead of the election.
The headlines will be dominated by President Donald Trump and First Lady Melania Trump's positive COVID-19 tests for the foreseeable future, but that wasn't the only big news to come out of Washington Thursday night. Despite failing to strike a deal with Republicans or the Trump administration, House Democrats passed the $2.2 trillion HEROES Act that House Speaker Nancy Pelosi proposed at the beginning of the week.
As CNBC reports, the legislation was approved by a vote of 214-207, with 18 Democrats in vulnerable races choosing not to support their party's bill, knowing it likely won't become law. Senate Majority Leader Mitch McConnell has made it clear that the price tag is still too high, which means it stands little chance of passing in the Senate.
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House passes $2.2 trillion bill with new round of $1,200 stimulus checks – but there’s bad news originally appeared on BGR.com on Fri, 2 Oct 2020 at 10:18:28 EDT. Please see our terms for use of feeds.
Via BRG - Boy Genius Report