Is Biden's Easy Money Stimulus Plan Dead Or Alive?

A budget reconciliation process between Democrats and Republicans is underway. Biden is still pushing for a big stimulus deal.

Biden Not Backing Down on $1,400 Stimulus Checks 

Biden still wants huge stimulus checks but he is Open to Sending the Checks to Smaller Group.

Mr. Biden told House Democrats on Wednesday that he wouldn’t change the amount of the proposed $1,400 payments, saying people had been promised that amount, according to the people.

Beyond sending money to many Americans, the $1.9 trillion proposal would direct aid to state and local governments, provide funds for distributing Covid-19 vaccines and enhance federal unemployment benefits. Money would go toward schools, child-care facilities and renters under the plan, which also seeks to raise the federal minimum wage to $15 an hour.

Republicans have called Mr. Biden’s plan too expensive and premature after Congress approved roughly $900 billion in aid in December, and they have criticized provisions like raising the minimum wage as unrelated to the pandemic. A proposal advanced by 10 Senate Republicans would provide $618 billion in relief, paring back Mr. Biden’s proposals on unemployment insurance and direct checks and eliminating others.

Senate Minority Leader Mitch McConnell (R., Ky.) said Democrats “seem desperate to make their first act in power the same kind of massive, partisan, poorly targeted borrowing spree that permanently wounded the last Democratic presidency right out of the gate.”

A Word About Dawdling

Senate Majority Leader Chuck Schumer does not want to dawdle. 

We cannot dawdle, we cannot delay, we cannot dilute, because the troubles that this nation has and the opportunities that we can bring them are so large,” said Schumer.

The Problem With Dawdling

The obvious problem with dawdling is that fiscal sanity might set in. 

Senators might look at $1.9 trillion spending proposals and start asking questions such as "Do we really need to spend $1.9 trillion?" 

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.