Tag: Democrats

Kudlow says Trump may offer larger stimulus than Democrats’ proposal

White House economic adviser Larry Kudlow said on CNN’s “State of the Union” Sunday that President Trump may propose a coronavirus stimulus package with an even larger price tag than the $2.2 trillion legislation that House Speaker Nancy Pelosi has offered.

Why it matters: It’s highly unlikely that a bill in the neighborhood of $2 trillion, let alone more than that, would win the support of Senate Republicans. Senate Majority Leader Mitch McConnell said Friday that a stimulus deal is “unlikely” before the election.

The state of play: After calling off the negotiations via tweet last week, Trump has now raised his offer to $1.8 trillion, spooked by the market reaction to his move and desperate to inject stimulus into the economy before the election.

  • Pelosi said the proposal was “one step forward, two steps back,” accusing the administration of failing to include public health measures in the package that
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GOP, Democrats cool to new relief proposal

WASHINGTON — Senate Republicans and House Speaker Nancy Pelosi, D-Calif., raised objections Saturday to a new $1.8 trillion economic-relief proposal from the Trump administration, dimming prospects for a coronavirus relief deal before the election.

On a conference call Saturday morning with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows, several GOP senators denounced the proposal, saying the price tag was too big, questioning the overall direction and criticizing individual proposals, according to people who participated in the call or were briefed on its contents. They spoke on the condition of anonymity to detail the private discussion.

Sen. John Barrasso, R-Wyo., called a proposed expansion of Affordable Care Act tax credits to the unemployed “an enormous betrayal” of the GOP’s long-standing opposition to the health law.

“I don’t get it,” said Sen. Rick Scott, R-Fla., of the giant spending proposal that incorporates a number of Democratic priorities

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Democrats seek to nationalize a coronavirus plan

Democrats say the federal government needs to establish a national plan to respond to the coronavirus, including the production and distribution of a coronavirus vaccine.



Frank Pallone holding a sign: WB.Congress.jpg


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Party leaders unveiled their national protocols to ensure “equitable” distribution that wouldn’t happen until the Food and Drug Administration assures the vaccine’s safety.

They call for a national strategy for both testing and local decisions, such as when schools and businesses can reopen.

“This should all be done on a national level,” House Energy and Commerce Committee Chairman Frank Pallone, a New Jersey Democrat, said at a press conference Thursday, adding that the states “don’t know what do do” about school operations.

The Centers for Disease Control and Prevention gave states an Oct. 16 deadline to provide plans for how they will distribute a coronavirus vaccine when it becomes available. Democrats want that nationalized, too.

Democrats seek Republican

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Stocks fall after Trump says he is ‘rejecting’ House Democrats’ $2.2 trillion stimulus proposal

Stocks fell Tuesday after President Donald Trump said he opposed House Democrats’ $2.2 trillion virus relief proposal, effectively stamping out hopes that another round of fiscal stimulus to aid the virus-stricken economy would come before the election.

[Click here to read what’s moving markets heading into Wednesday, October 7]

“We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith,” Trump wrote in a Twitter post Tuesday afternoon. “I am rejecting their.. … request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business.”

Stocks, which had traded mixed earlier in the day, fell sharply, with the Dow dropping more than 250 points, or about 0.9%. The Nasdaq underperformed, dropping 1%.

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Democrats’ tech proposals will include ‘non-starters for conservatives’


Rep. Ken Buck listens during a House Judiciary Committee hearing. | Anna Moneymaker/The New York Times via AP, Pool

Rep. Ken Buck listens during a House Judiciary Committee hearing. | Anna Moneymaker/The New York Times via AP, Pool

WASHINGTON — Congress should grant federal antitrust enforcers more resources to take on Silicon Valley’s giants, a key House Judiciary Republican says in a report circulated Monday — while warning against yet-to-be-unveiled Democratic proposals that would make it easier to take steps such as breaking up companies.

The draft report, obtained by POLITICO, offers the first concrete glimpse into the findings and recommendations that Judiciary’s Democratic-led House antitrust subcommittee is set to offer as part of its 16-monthlong investigation into the state of competition online. That probe has zeroed into the business practices of Amazon, Google, Facebook and Apple.

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The minority report: Rep. Ken Buck of Colorado, a Republican on the House antitrust subcommittee, wrote in the draft that while he agrees with the committee’s Democratic majority that “antitrust enforcement

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Stocks fall after Trump says he is ‘rejecting’ House Democrats’ $2.4 trillion stimulus proposal

Stocks fell Tuesday after President Donald Trump said he opposed House Democrats’ $2.4 trillion virus relief proposal, effectively stamping out hopes that another round of fiscal stimulus to aid the virus-stricken economy would come before the election.

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[Click here to read what’s moving markets heading into Wednesday, October 7]

“We made a very generous offer of $1.6 Trillion Dollars and, as usual, she is not negotiating in good faith,” Trump wrote in a Twitter post Tuesday afternoon. “I am rejecting their.. … request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business.”

Stocks, which had traded mixed earlier in the day, fell sharply, with the Dow dropping more than 250 points, or about 0.9%. The Nasdaq underperformed,

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GOP lawmaker: Democrats’ tech proposals will include ‘non-starters for conservatives’

Buck said he opposes not-yet-unveiled Democratic proposals aimed at “eliminating arbitration clauses and further opening companies up to class action lawsuits.” And he said he rejects antitrust subcommittee Chair David Cicilline’s (D-R.I.) idea of advancing legislation to force structural breakups of major online platforms like Amazon.

“We agree that antitrust enforcement agencies need additional resources and tools to provide proper oversight,” Buck wrote. “However, these potential changes need not be dramatic to be effective.”

The Republican recommendations mark the first major findings to surface out of the Judiciary Committee’s probe. Though the subcommittee’s final report has yet to be released, Democrats have floated sweeping changes such as legislation to force structural separations for tech platforms similar to Glass-Steagall, the Depression-era law that split investment and retail banking.

In the memo, Buck wrote that the majority’s incoming report “offers a chilling look into how Apple, Amazon, Google, and Facebook have used

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Democrats pass $2.2 trillion stimulus plan with federal unemployment benefits, direct payments

  • Democrats passed a $2.2 trillion stimulus plan that contained another round of direct payments, federal unemployment benefits, and small business aid.
  • But Republicans are likely to reject the package in the Senate.
  • The Trump administration put forward a $1.6 trillion plan in negotiations with Democrats, but they rebuffed it as insufficient.
  • Bipartisan talks between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are set to continue.
  • Visit Business Insider’s homepage for more stories.

House Democrats passed a $2.2 trillion stimulus plan to send aid to individuals, businesses, and states on Wednesday, advancing a bill that has no shot at becoming law due to staunch Republican opposition.

The legislation passed by a party-line vote of 214-207, with 17 Democrats voting against the package.

House Speaker Nancy Pelosi said on the House floor the plan would prioritize average Americans and help keep them afloat during a pandemic.

“This is not just

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In economic relief talks, White House and Democrats continue trading proposals, insults

At the White House, press secretary Kayleigh McEnany confirmed that the administration had offered Pelosi an approximately $1.6 trillion package, much higher than many congressional Republicans would be able to support.

“It’s a good offer but it’s one Nancy Pelosi is not interested in,” McEnany said.

“Nancy Pelosi is not being serious. If she becomes serious then we can have a discussion,” McEnany said.

For her part, Pelosi (D-Calif.) criticized the GOP’s proposals as too stingy, contending that the administration is focused on protecting tax breaks for the wealthy instead of help for families and children in need. House Democrats had initially sought a $3.4 trillion spending package before bring the package down to around $2.2 trillion.

“This isn’t half a loaf, this is the heel of the loaf,” Pelosi said on Bloomberg TV of the White House proposal.

Nevertheless, Pelosi and Mnuchin were set to have another conversation Thursday

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House Democrats Release New $2.2 Trillion U.S. Stimulus Proposal

(Bloomberg) — House Democrats released a $2.2 trillion proposal to extend support to the U.S. economy in face of the continuing damage from the coronavirus pandemic.



an old stone building: The U.S. Capitol building stands in Washington, D.C., U.S., on Monday, Sept. 14, 2020. Speaker Nancy Pelosi welcomes the House back today, but that's unlikely to give fresh impetus to the Covid-19 relief funding discussions with Republicans and Democrats both testing a risky strategy that the public will blame the other side for failing to deliver help to millions of households and companies.


© Bloomberg
The U.S. Capitol building stands in Washington, D.C., U.S., on Monday, Sept. 14, 2020. Speaker Nancy Pelosi welcomes the House back today, but that’s unlikely to give fresh impetus to the Covid-19 relief funding discussions with Republicans and Democrats both testing a risky strategy that the public will blame the other side for failing to deliver help to millions of households and companies.

The plan follows through on discussions last week to prompt a last-ditch attempt at negotiations with the White House to break an impasse on Covid-19 relief that’s lasted since early August.

The White House and congressional Republicans have previously rejected that level of stimulus.

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©2020 Bloomberg L.P.

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