Update - 3/11/21 - America Rescue Plan Bill is signed!

[JCB]

GOP nothing but terrorists. Jesus.

[Llevron]

what a bunch of ****ers 

[The Evil Genius]

 

[China]

Disarray consumes Capitol ahead of critical deadline

 

Congress is going right up to the midnight shutdown deadline as leaders desperately try to clinch a $900 billion coronavirus aid package and keep the government open during a debilitating pandemic.

 

After meeting with Senate Majority Leader Mitch McConnell on Friday afternoon, Majority Whip John Thune (R-S.D.) said the state of play was increasingly tenuous. He said announcing a deal on Friday "would be a triumph of hope over experience" and that even funding the government through a stopgap bill for a couple days could be a "heavy lift."

 

Conservatives are raising alarm about new spending. And though there's general agreement on a new round of direct payments of $600, Sen. Josh Hawley (R-Mo.) said unless he sees bill text containing significant direct payments to Americans, he will not allow a short-term funding bill to pass.

 

“We’ve been in the dark for days on end, we have absolutely no idea what’s actually in this package … so I’m not willing to allow a [spending bill] to go through until I know what’s actually in the package. Direct assistance has got to be in there,” Hawley said. “It’s beginning to reach the point of absurdity. It’s time for leadership to put on the table what they’ve got, it’s time for them to brief members on what they’ve got.

 

Sen. Ron Johnson (R-Wis.) blocked Hawley from passing a new round of $1,200 stimulus checks, exposing the rift in the GOP about how to handle the pandemic's sweeping economic impacts.

 

Senior Democrats said an agreement was "within sight" until Toomey and the GOP made a new ask on the Fed's emergency lending programs. Toomey has pushed for similar provisions since July, but Democrats argue his latest proposal is more restrictive. Republicans are concerned the emergency lending program will be used to help state and local governments, which they have repeatedly objected to.

 

The current version of Toomey's plan would prevent the emergency lending program established by the CARES Act from continuing next year and would also bar the central bank from starting any similar program, according to a draft viewed by POLITICO.

 

The Federal Reserve has said it would like the emergency programs to continue operating until the economic crisis has ended. Brian Deese, President-elect Joe Biden’s pick to be National Economic Council director, also released a statement Friday afternoon urging negotiators to keep the Fed program.

 

"Senate Republicans are now holding up the entire package over this unacceptable provision designed to sabotage the economic recovery under the Biden Administration," said House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) and Ways and Means Chairman Richard Neal (D-Mass.) in a joint statement.

 

Click on the link for the full article

Edited December 18, 2020 by China

[Larry]

They're telling us in advance, right now. Their intent is to unanimously hamper the economy, because they believe they will regain power if they do. 

(They're probably right, too.)

[CousinsCowgirl84]

600 dollars to everyone sounds reasonable... I think perhaps they should do it on a needs basis though. And then they can give people who need it more.
 

Hard to figure out who needs it and who doesn’t though. I feel like the republicans are trying to make the democrats pay for not agreeing to separate direct payments as a bill pre-election...

17 hours ago, Larry said:

1). We're in a crippling economic situation. 
2). 70% of GDP is based on consumer spending. 
3). And the government can borrow money, for 10 year fixed interest of like 0.9%. 
 

Throwing money at people to keep them spending ought to be a no brainer. 

we can also print it for free for almost no inflation. 

[tshile]

59 minutes ago, Larry said:

They're telling us in advance, right now. Their intent is to unanimously hamper the economy, because they believe they will regain power if they do. 

(They're probably right, too.)

Yup. 
 

republican politicians are, for the most part, more about being destructive and petulant than anything resembling an actual leader. 
 

republican supporters are too stupid to see the difference nor care. 
 

And at this point... it’s not even debatable. The only people who believe what that party says are people not smart enough to know better. 🤷‍♂️
 

[tshile]

Also. This was the obama playbook. Refuse to work with him, make him a one term president by not allowing him to do anything. 
 

they were vocal about it back then. They told us their plan. Because Obama was black and it scores points with their racist dip**** supporters. 
 

but Biden is white and were in a pandemic so now it’s all about fiscal responsibility (with a little wink wink nudge nudged hey look who’s hurt worst blue state and local governments isn’t that awesome we’re such addholes?)

 

but it’s been their playbook. Whether they publicly admit or not is just a matter of circumstance. 

[China]

Congress averts shutdown; fight continues over pandemic aid

 

Congress swiftly passed a two-day stopgap spending bill Friday night, averting a partial government shutdown and buying time for frustratingly slow endgame negotiations on an almost $1 trillion COVID-19 economic relief package.

 

The virus aid talks remain on track, both sides said, but closing out final disagreements is proving difficult.

 

The House passed the temporary funding bill by a 320-60 vote as lawmakers headed for a Sunday session. The Senate approved the bill by voice vote almost immediately afterward, sending it to President Donald Trump.

 

Senate Majority Leader Mitch McConnell, R-Ky., said both sides remain intent on closing the deal, even as Democrats launched a concerted campaign to block an effort by Republicans to rein in emergency Federal Reserve lending powers. The Democrats said the GOP proposal would deprive President-elect Joe Biden of crucial tools to manage the economy.

 

It appeared unlikely that there would be a deal reached Friday night, lawmakers and aides said.

 

Democrats came out swinging at a key obstacle: a provision by conservative Sen. Pat Toomey, R-Pa., that would close down more than $400 billion in potential Federal Reserve lending powers established under a relief bill in March. 

 

Click on the link for the full article

[China]

Republicans Are Fighting Hard to Bankrupt States

 

As the frenzied, last-minute negotiations over coronavirus relief wear on in Congress, Republicans are still fighting tooth and nail to keep aid from flowing to state and local governments, many of which have had their finances eviscerated by the pandemic.

 

So far, the GOP has been fairly successful in this crusade. The original bipartisan proposal that served as a launching-off point for this latest round of talks would have given Democrats a $160 billion pot of cash to help states address their budget gaps, in return for a liability shield protecting employers and businesses from COVID-related lawsuits, which has long been on the Republican wish list. But the sides have since agreed to drop both of those contentious items from the package in the name of getting a deal done before the new year.

 

And conservatives aren’t done yet. Democratic lawmakers have pushed to add more funding for the Federal Emergency Management Agency in order to help states deal with crises. Republicans are resisting. More importantly, Republicans, led by Pennsylvania Sen. Pat Toomey, are seeking to permanently shut down the emergency Federal Reserve lending programs created this spring by the CARES Act, including the one for states and municipalities. Treasury Secretary Steve Mnuchin announced last month that he would allow those programs to lapse at the end of this year, but most experts believe that under current law, his successor could revive them, or that the Fed could create similar ones through its own power. Toomey and company are now pressing for language that would ensure that these lending facilities stay shut for good, and aren’t replaced with clones.

 

This issue has suddenly emerged as one of the single largest sticking points remaining in talks. Toomey has said that hogtying the central bank is his most important priority at the moment, and a “bright red line” for him in bargaining, while outraged Democrats are accusing him publicly of trying to sabotage the next administration. This is in part because it affects more than just states—the Fed’s emergency lending efforts have also put a backstop on the corporate debt markets, and Democrats are worried that the language Republicans have proposed would put new, tighter restrictions on the Fed’s powers than what existed before the CARES Act, thus hamstringing the Biden administration’s ability to respond if the economy starts to slide again.

 

But this debate is also very much about the future of state budgets, too. Very few municipalities have borrowed from the Fed so far, in part because it hasn’t offered attractive terms. Some have hoped the central bank might start offering a better deal under the Biden administration. And no matter what, Toomey is attempting to take away an important safety net should it suddenly become hard for states and cities to borrow.

 

Click on the link for the full article

[visionary]

 

Edited December 19, 2020 by visionary

[bearrock]

Let the bill die.  Maybe wave of municipal bankruptcies on top of individual and corporate bankruptcies will wake the American public as to how badly the GOP wants to burn down the house.

[Fergasun]

The Fed is non-political anyway. So, the GOP is saying we are out of the pamdemic crises?  I mean, they can deflect and say "Toomey", but they could also reject his input.  No one cared about this provision publicly until now.  

[visionary]

 

 

 

 

[Fergasun]

The GOP owes a public answer for this.  Why this last minute "move the goal post" move?  They are playing, "Let's not make a deal."

 

I suppose it would be fair for Dems offer to limit whatever the Fed has by half, but what the hell.  There is no reason to roll back authority that existed in March. 

 

They believe we are not in crises?

[Larry]

What the Republicans want, is to make certain that the economy crashes, and stays crashed, under Biden.  

 

They would also like it if it looked like it didn't crash till after Biden takes over*.  Therefore, they'd like to pass something which will last a few weeks.  

 

But Item 2 isn't as important as Item 1.  

 

* Or at least, till after the GA runoffs.

Edited December 19, 2020 by Larry

[Fergasun]

So here it is.  The original bipartisan agreement was made on the GOP Srnate side by Murkowski (AK), Romney (UT),  Collins (ME), and Cassidy (LA).  It was made with Dems and Reps in the House and Senate.  I understand things will get passed to McConnell and Pelosi to ensure they have a "good vote" and negotiate some details. 

 

But at this point, since those 4 GOP Senators agreed and negotiated in good faith, they need to push back against Toomey. Cotton has publicly come out in support of Toomey.  

 

And this is the story the press should be going after.  Are the 4 GOP Senators who originally worked a deal in good faith willing to buck GOP Senators who are insisting on bad faith provisions?  But we are just getting the McConnell press release and comment.  

 

And maybe these things just take time to work thru the snags... but the inaction between election and now has been inexcusable. 

 

 

 

 

 

 

[Larry]

The Toomey thing is a cover.  

 

They're looking for a reason to torpedo any stimulus, without simply voting against it.  

 

So they pick something that Toomey proposed months ago, (and that the Republicans voted against), and now want to pretend that the R's are unanimposly opposing the entire deal, unless it includes a clause that the Republicans voted against, months ago.  

[Fergasun]

The latest is there is an agreement over the Federal Reserve language that Toomey was holding up. 

 

$600 stimulus checks for adults and dependents (with AGIs of $75k for individuals and $150k joint couples).   Extension of additional UI payments as well. 

 

Of course both progressives and conservative fringes may be against this in Congress, but it will likely pass with a strong vote.  

 

 

[goskins10]

Hoping for a vote as early as 1PM today - or right now.  

 

https://www.yahoo.com/finance/news/congress-set-pass-stimulus-checks-162200890.html

[TheGreatBuzz]

Anything regarding evictions?  I didn’t see it mentioned.

[China]

Senators reach deal on Fed powers, setting stage for coronavirus relief passage

 

Senate Minority Leader Charles Schumer (D-N.Y.) and Sen. Pat Toomey (R-Pa.) reached an agreement late Saturday night on language to curtail the Federal Reserve's special lending authorities, setting the stage for passage of a coronavirus relief deal and an omnibus spending package as early as Sunday. 

 

At around 9 p.m. Republicans sent word to Schumer that they would accept language resolving the dispute over the Federal Reserve’s lending facilities, according to GOP aides. 

 

The compromise will sweep out the $429 billion in unspent CARES Act funding for the Federal Reserve’s credit lending facilities and repurpose it as an offset for a new $900 billion coronavirus relief bill, GOP sources said. 

 

The deal will close four Federal Reserve credit lending facilities created by the CARES Act and will prevent the Fed from standing up replica facilities in the future without congressional approval. 

 

Those four programs are the Primary Market Corporate Credit Facility, the Secondary Market Corporate Credit Facility, the Main Street Lending Program and the Municipal Credit Facility.

 

The Fed will retain more flexibility over restarting the Term Asset-Backed Securities Loan Facility, which will be closed but can be restarted in the future.

 

Toomey agreed to a narrower approach on dealing with potential “copycat” lending facilities. Negotiators agreed to specific language instead of merely an agreement in principle.  

 

A senior Democratic aide said that Toomey "has agreed to drop the broad language in his proposal that would have prevented the Fed chair from establishing similar facilities in the future to the ones created in March."

 

"Compromise language is being finalized, and now that this obstacle has been cleared, a final agreement on an emergency relief package is significantly closer," the Democratic aide said.

 

A Democratic source familiar with the talks said Treasury Secretary Steven Mnuchin had already said he would return the $429 billion in unspent CARES Act money to the general fund. 

 

Toomey, however, questioned that claim on Thursday. 

 

"I'm not certain the secretary has committed to putting this in a general funds category," he told reporters earlier in the week. "I'm not sure I interpret his comments the way you do. And there's also the fact there are other funds in the [Exchange Stabilization Fund] account. In any case, by having the language that we have it precludes the possibility of restarting these programs from any source."

 

Another senior House Democratic aide said the Toomey deal sets the stage to iron out all the other less significant differences that had stalled the negotiations for weeks.

 

"We expect remaining open items to fall into place overnight," the aide said.

 

Emerging from his office late Saturday night, Schumer predicted the House and the Senate both will vote on the package — a combination of a $900 billion coronavirus relief bill and a $1.4 trillion omnibus spending bill — on Sunday.

 

The package will include direct stimulus checks between $600 and $700, according to a commitment GOP leaders made to Sen. Josh Hawley (R-Mo.) on Friday. Sen. Bernie Sanders (I-Vt.) worked with Hawley to include the stimulus checks.

 

Click on the link for the full article

Edited December 20, 2020 by China

[goskins10]

21 minutes ago, TheGreatBuzz said:

Anything regarding evictions?  I didn’t see it mentioned.

 

I have not seen anything. What I have seen that is disturbing is courts siding with landlords to evict people anyway. They are saying the no eviction moratorium is unconstitutional. https://www.nbcnews.com/news/us-news/cdc-banned-evictions-those-affected-covid-why-are-tenants-being-n1251439

[LD0506]

[TheGreatBuzz]

1 hour ago, goskins10 said:

 

I have not seen anything. What I have seen that is disturbing is courts siding with landlords to evict people anyway. They are saying the no eviction moratorium is unconstitutional. https://www.nbcnews.com/news/us-news/cdc-banned-evictions-those-affected-covid-why-are-tenants-being-n1251439

Honestly I agree with them.  Landlords have bills too.  Government wants to keep them from being evicted then they should be paying their rent for them.