It looks like the Trump administration is just hours away from finalizing a massive aid package with Congress to battle the economic downturn caused by coronavirus epidemic, Treasury Secretary Steven Mnuchin said Sunday to Fox News.
“I‘ve been speaking to Mitch McConnell, Chuck Schumer, the speaker, and I think we have fundamental understanding. We look foward to wrapping it up today.”
He added that the additional liquidity measures would allow the U.S. central bank to help a broad base of businesses to get through next 90 to 120 days.
A spokesman for Senate Democratic leader Chuck Schumer said there is “not yet an agreement.” Spokesman Justin Goodman said Democrats look forward to reading the draft and further negotiations.
According to the author of NYT bestseller “The Hill To Die On”, Jake Sherman the end game for an average American is not looking bright. Jake Sherman is also a senior writer for POLITICO.
The paper (below) that was published on Jake Sherman’s Twitter account shows outstanding issues with the bill for Democrats, namely jobs, buybacks restrictions and hospitals.
The question remains. Will the democrats bend?
On the other side, lets not make this political, and see the finished bill before we overreact. We would love to see the flip side of this coin but something is telling us that with this huge financial bailout bill coming out of Washington most of the money will go to big businesses.
per a Dem source, a provision of the $500B bailout fund proposed by GOP would allow Mnuchin to delay making public for up to 6 months “names of applicable eligible businesses, States, and municipalities and the amounts of individual loans or loan guarantees”— Igor Bobic (@igorbobic) March 22, 2020