Lawmakers and the White House finally reached an agreement Tuesday afternoon to replenish the payment protection program fund after Democrats blocked the measure because it didn’t include enough relief for other programs.
The legislation’s main purpose is to refill the fund after it ran out of money less than two weeks after it launched – but Senate Majority Leader Mitch McConnell admitted from the floor Tuesday that it ended up being ‘a significant package.’
Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi took a victory lap after the legislation passed through the Senate.
‘The bill we passed was greatly improved,’ Schumer said in remarks Tuesday evening. ‘It’s much better to talk with us then steamroll us… and because we had input into the bill, it’s a much better bill.’
Schumer and Pelosi said they were against the bill only including funding for the payment protection program (PPP).
President Donald Trump urged Republicans to back the interim relief package, which other than PPP funding includes money for hospitals and testing.
‘I urge the Senate and House to pass the Paycheck Protection Program and Health Care Enhancement Act with additional funding for PPP, Hospitals, and Testing,’ the president wrote on Twitter.
Democrats say Republicans would not let up on adding in more money for state and local government, but Trump insisted that would be included in the next far-reaching CARES package.
‘After I sign this Bill, we will begin discussions on the next Legislative Initiative with fiscal relief to State/Local Governments for lost revenues from COVID 19, much needed Infrastructure Investments for Bridges, Tunnels, Broadband, Tax Incentives for Restaurants, Entertainment, Sports, and Payroll Tax Cuts to increase Economic Growth,’ the president tweeted.
Senate Majority Leader Mitch McConnell said Tuesday from the Senate floor that it is ‘unfortunate’ that it took lawmakers 12 days to reach an agreement on expanding the payment protection program
Senator Majority Leader Chuck Schumer (left) and House Speaker Nancy Pelosi (right) took a victory lap after the legislation made it through the Republican-majority Senate, claiming it was only acceptable after the GOP gave into some of their demanded measures
Donald Trump pushed for Republicans to support the interim relief bill, even though additions were made that were not part of the original proposal, including money for testing and hospitals
The president said he would begin discussions to send more relief and funding to state and local governments after this bill passes
Schumer said he and House Speaker Nancy Pelosi were able to reach an agreement with Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin (pictured), who is spearheading the negotiations between the White House and Capitol Hill
The Senate vowed to pass legislation to expand the payment protection program early this week – and initially said a deal would be on the table by Monday morning.
‘It’s unfortunate that it took our Democratic colleagues 12 days to agree to a deal that contains essentially nothing that Republicans ever opposed,’ McConnell said during remarks from the Senate floor. ‘In my view it’s indefensible that Main Street small businesses and their workers had their assistance cut off for partisan leverage.’
‘The American people cannot be political leverage,’ he asserted, hitting at Democrats. ‘So I’m glad that we’re now poised to move ahead.’
Pelosi was all smiles during the post-vote press conference.
‘Congratulations on the unanimous vote in the Senate today on a package that we recommended two weeks ago,’ the House Speaker, who will take up the bill in the lower chamber later this week, said.
Senate Minority Leader Chuck Schumer told CNN Tuesday morning that he was on the phone with House Speaker Nancy Pelosi, White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin past midnight to reach a deal.
‘We came to an agreement on just about every issue,’ Schumer said of the phone call.
‘Staff was up all night writing,’ he continued of the bipartisan efforts to pass more relief in the midst of the coronavirus pandemic. ‘There’s still a few more i’s to dot and t’s to cross, but we have a deal and I believe we’ll pass it today.’
Schumer and Mnuchin claimed in interviews with Sunday shows that they would likely reach an agreement on the interim relief package by Sunday evening or Monday morning – but no such deal was reached.
The Senate came to order for a pro forma session at 4:00 p.m. Tuesday afternoon, where several senators took the floor to make remarks on the legislation before McConnell called for unanimous consent in the upper chamber to then pass it through to the House.
Despite claims of bipartisan negotiations and support for the measure, Kentucky Senator Rand Paul spoke out in opposition of the bill during remarks on the Senate floor Tuesday evening.
Despite claims of bipartisan efforts and negotiations, Kentucky Senator Rand Paul expressed his opposition to the bill, claiming: ‘Our only hope of rescuing this great country is to reopen the economy’
‘I rise in opposition to spending $500 billion more,’ the libertarian Republican said, asserting: ‘If you print off billions of dollars and give it to people, they are unlikely to spend it until you end the quarantine’
The libertarian Republican lawmaker said printing and pumping money into Americans’ hands wasn’t going to fix the economy, and that the only way for economic recovery is to end lockdowns and allow businesses to reopen.
‘No amount of money, not all the money in China, will save us from ourselves. Our only hope of rescuing this great country is to reopen the economy,’ Paul said. ‘If you print off billions of dollars and give it to people, they are unlikely to spend it until you end the quarantine.’
‘The debate should now include the one choice that will get our economy going again: Reopening American commerce. So today I rise in opposition to spending $500 billion more. The virus bailouts have already cost over $2 trillion,’ the senator said.
‘We can manage this disease without continuing the Draconian lockdown of the economy. The question before us isn’t: do nothing or print endless amounts of bailout cash,’ he asserted.
Instead, the Senate insists they will vote on the legislation during a pro forma session scheduled for 4:00 p.m. Tuesday afternoon.
Further indications that the $450 billion package was ready for passage in the Senate Tuesday came from House Majority Leader Steny Hoyer, who called members to return to Washington D.C. by Thursday.
‘If the Senate passes this legislation on Tuesday, the House could meet as early as Thursday, April 23rd at 10:00 a.m. to consider it,’ Hoyer said in a statement calling congressmen and women to use Wednesday to travel back to the District.
He also said that the lower chamber would not only consider, but likely pass the bill before the end of the week through a recorded vote.
‘Members are further advised that at this time we do not expect House Republicans to allow passage of this legislation to occur by a voice vote, therefore a recorded vote on the interim legislation is likely in the House this week,’ the Maryland Democrat said.
Senate Minority Leader Chuck Schumer said Tuesday the Senate will act on an interim relief legislation to expand small business relief this afternoon
House Majority Leader Steny Hoyer also said Tuesday that he was calling members back to Washington D.C. by Thursday as he expects the lower chamber to vote on the legislation by the end of the week
The deal comes as thousands of small businesses across the country have had to close their doors when all non-essential businesses were ordered to close in the midst of lockdown orders and social distancing guidelines
During a call with reporters Tuesday morning, Hoyer said the House expects well over half of House members to return to Washington, D.C. for the discussions and vote later this week.
‘We are asking every member to return that can return,’ Hoyer said. ‘And we are hoping that is a large number.’
Another version of the bill was brought to the Senate floor by Majority Leader Mitch McConnell, but was blocked by Democrats who claimed the legislation did not include enough of their demands.
The interim bill originally only included $250 billion to expand the PPP for small business grants, which ran dry of its original $350 billion less than two weeks after the program launched and applications were opened.
PPP was passed as part of the CARES Act at the end of March and grants $10 million loans to businesses with 500 employees or less that are struggling in the wake of the coronavirus crisis.
The funds are meant to help businesses avoid shuttering by paying their rent and other essential bills and keeping employees on the payroll.
Democrats, however, wanted the interim relief package to include more money for other programs.
The final agreement, Schumer revealed Tuesday, allocates $125 billion of the money for small businesses for those that do not already have good banking connections or are mom and pop, minority or women-owned businesses.
Schumer also reiterated that they were able to reach a deal to include $75 billion extra for hospitals, while he admitted Democrats had to concede on getting money passed for state and local government.