Pelosi on Friday, November 6, told reporters during a briefing that she wants “Republicans” and the president to “come back to the table” to renegotiate a second relief bill. The House speaker added that “we must also move swiftly” as Capitol Hill prepares “for the Biden administration.”
Democratic presidential candidate Joe Biden was named as the 46th president-elect the following day, defeating Trump in his bid for reelection, according to an analysis from Decision Desk HQ.
“We want the Republicans to come back to the table,” Pelosi said. “For two days in a row, over 100,000 (coronavirus) cases were reported.”
NBC News disclosed that a record number of COVID-19 cases in the U.S. were tallied on Thursday, November 5, with more than 100,000 cases documented that day. The total broke the single day record, set the day before on November 4, with a total of 120,048 positive cases, the outlet continued.
“The imperative to act could not be greater,” Pelosi said.
Stimulus negotiators have remained divided over the same sticking points for weeks, including Democrats’ calls for substantial state and local government funding and Republicans’ desires for employer liability shields, according to the Chicago Tribune.
Pelosi and Treasury Secretary Steven Mnuchin have been discussing a package in the range of $1.8 trillion to $2.2 trillion, including extended unemployment benefits and another round of stimulus checks, The Washington Post added.
Senate Majority Leader Mitch McConnell, who was reelected for his seventh six-year Senate term, on Wednesday, November 4, said that the Senate will prioritize passing a relief bill next week, according to CNBC.
Here’s what you need to know:
McConnell Is Pushing for ‘Something Smaller
On Friday, November 6, McConnell hinted during a news conference that a larger stimulus package may not be needed to revamp the economy.
“Our economy is really moving to get back on its feet. That I think clearly ought to affect what size of any rescue package we additionally do…” he stated, according to News On 6.
“I do think we need another one,” McConnell continued. “But I think it reinforces the argument that I’ve been making for the last few months that something smaller — rather than throwing another $3 trillion at this issue — is more appropriate, with it highly targeted towards things that are directly related to the coronavirus, which we all know is not going away until we get a vaccine.”
The Senate majority leader previously warned that a package in the price range of $1.8 trillion would not garner enough Senate support, CNN said. He claimed that he would not be able to “sell” it to his members, the outlet continued.
“The Speaker laid out a $2.5 trillion package with all kinds of things that I felt were simply unrelated to the subject,” McConnell said on Wednesday, CNBC continued. “I laid on the Senate floor not once, but twice, half a trillion dollars … targeting the school situation, the need to replenish the PPP small loan program.”
Biden’s Stimulus Plan Includes Certain Aspects of the CARES Act
Biden’s stimulus plan incorporates certain aspects of the CARES Act, passed back in March, including, but not limited to, stimulus payments for eligible Americans and more unemployment benefits, according to CNET.
The outlet writes, “Biden’s plan, like the one Trump is backing, will include more direct stimulus payments, but it doesn’t specify how many or for how much, or if any of the qualifications would change. Democrats and Republicans are currently negotiating for more stimulus relief that would include another round of direct payments, but the clock is ticking to get a bill passed, and the results of the presidential elections on Nov. 3 could play a role on the timing of a deal.”
The 46th president-elect would also call for an additional $200 to the monthly payments to social security recipients, CNET continued.
Lastly, Biden promises that Americans would not need to pay out-of-pocket for COVID-testing, treatment, or a vaccine, when it becomes available, the outlet noted.