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The tide on Capitol Hill is shifting toward a compromise to adopt a new economic stimulus package to help Americans and American small businesses struggling with the coronavirus pandemic, the bipartisan Resolution Caucus co-chairs said Thursday. House issues at CNBC.
“We are exhausted … after how long we fought for something to be done, but I really believe you now see the momentum next week to pass this emergency program,” said the representing Josh Gottheimer. on “Squawk Box”. “I think there is a deep recognition … that we have to do something. People are really hurting. Small businesses are coming out, dozens of them, every day,” added the New Jersey Democrat.
Gottheimer’s Problem Solvers Caucus this week unveiled a $ 908 billion coronavirus stimulus package with a bipartisan group of senators, including Democratic Senator Joe Manchin of West Virginia and GOP Senator Mitt Romney of Utah.
House of Commons Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer, who for months backed a more expensive relief bill, backed the bipartisan proposal on Wednesday, calling for the Senate Majority Leader, Mitch McConnell, to use it as a basis to launch stimulus negotiations.
McConnell, a Republican from Kentucky, preferred a smaller package, closer to $ 500 billion. In rejecting the bipartisan proposal on Tuesday, he said: “We just don’t have time to waste time.” President Donald Trump supports the McConnell approach, Treasury Secretary Steven Mnuchin said on Wednesday. “We look forward to making progress in this area,” Mnuchin said, according to Reuters. Mnuchin and Pelosi had tried for months to reach a compromise before the election, but they failed.
Members of Congress who helped craft the new $ 908 billion package – which includes funds for small business assistance and a $ 300 a week unemployment supplement – believe it will continue to raise a support for Washington. “It’s time to listen to the American people,” New York Republican Tom Reed also said on “Squawk Box”.
For months, Reed has urged action by Congress, which has stalled since the summer over additional relief even as the pandemic continues to rage.
Problem Solvers Caucus co-chair Reed, who represents much of western and central New York State, said he heard in recent days that there may be more Republican support for a relief program against coronaviruses in the order of 550 to 700 billion dollars. . “That means we’re very close. You look at where the Democratic leadership was. They were at $ 1.3 trillion. They are now at $ 900 billion to support this bipartisan, bicameral package that we have put in place.” , did he declare.
“Now you see the movement in the Senate. You see the White House in a position to potentially sign a package. They recognize that we need to get there as Covid erupts, as people continue to suffer, businesses run out of caps, ”Reed added.“ In the end, it’s just in the range of reasons. It’s not a perfect bill, but it’s a compromise bill that can bring people together. “
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