As the time for the November presidential elections come closer, the rush to secure a second stimulus check gets faster. However, the latest stimulus package proposed by the White House has been rejected by Speaker Pelosi. She said that the proposed stimulus bill will take them two steps behind. Additionally, the Senate Republicans also rejected it saying that its price tag is exorbitant.
While Speaker Pelosi still hopes that the second stimulus check can be secured, it’s clear that the GOP Republicans are not willing to go for the stimulus bill that Democrats want.
The Trump administration boosted its stimulus package proposal before Speaker Pelosi during the afternoon session on Friday. Sources report that the President is eager to secure the second stimulus check before the November elections.
Trump Shows Eagerness To Pass The Second Stimulus Check Before The November Presidential Elections
On Friday, the president tweeted that the stimulus bill negotiations are going well.
The new stimulus package that the White House is proposing comes with a price tag of $1.8 trillion. It includes local and states financial relief measures worth approximately $300 billion. As per reports, the previous stimulus bill proposal had a price tag of $1.6 trillion.
Meanwhile, the Democratic Party recently proposed a stimulus package worth $2.2 trillion. In addition to the second stimulus check, the bill also includes an increase in business tax, which is something that the GOP Republicans will never agree to.
On Saturday, Speaker Pelosi stated that the White House’s stimulus bill proposal left out many of the concerns expressed by the Democratic Party. She further said that despite everything, she is hopeful that a second stimulus check can be secured.
During a conference call on Saturday, the GOP Republicans expressed their disapproval over the new stimulus package proposed by the White House, especially the proposed change to the Affordable Care Act by Speaker Pelosi.
Can The Lawmakers Pass A Second Stimulus Package Before The November Presidential Elections?
However, some Republicans have indicated that they would like to compromise in order to bring a second stimulus check to all eligible Americans. These politicians include Susan Collins from Maine, Lindsey Graham from South Carolina, Marsha Blackburn from Tennessee, John Barrasso from Wyoming, and Rich Scott from Florida.
However, Mitch McConnell, Senate Majority leader, said that he is skeptical about the outcome of a positive negotiation. On Friday, Senator McConnell told Kentucky residents that he does not think the second stimulus check will come to them before the November elections.
McConnell also added that the priority at the moment is to finish the high court nominee process.
Meanwhile, Trump’s indecision and rash decisions over the second stimulus package has increased the market’s anxiety.
On Tuesday, Trump tweeted that all stimulus bill negotiations have been stopped. Hours later, he tweeted that he is willing to sign a stand-alone second stimulus check bill.