Topline
President Joe Biden issued his strongest statement yet in support of fast-tracking a Covid stimulus package without any support from congressional Republicans, saying Friday he “can't in good conscience” make concessions to Republicans who he said propose to either "do nothing or not enough”—as Republicans complain Biden is going back on promises to work for bipartisan solutions and unify the country.
President Joe Biden talks with House Democratic leaders and committee chairs to discuss the ... [+]
Stefani Reynolds-Pool/Getty ImagesKey Facts
Biden said, “I’m going to act, and I’m going to act fast” on the stimulus package that for now is $1.9 trillion and includes $1,400 checks for many Americans, $400 a week in enhanced unemployment payments and hundreds of billions of dollars for state and local governments.
Democrats are moving through the reconciliation process in both the House and the Senate in order to pass the package, without getting even one Republican in either chamber to vote for moving forward with the process.
Reconciliation requires just a simple majority, which Democrats have in both chambers, rather than needing to court GOP votes.
Republicans have claimed the package is far too expensive, but Biden slammed that idea Friday, saying, “We do have the resources,” and saying Republicans have conveniently “rediscovered fiscal restraint" for this stimulus effort.
Crucial Quote
“I’m going to act fast. I would like to be doing it with the support of Republicans . . . but they’re just not willing to go as far as we have to go,” Biden said.
Chief Critic
Senate Minority Whip John Thune (R-S.D.) said late last month Republicans felt “a little bit betrayed” by the way Democrats were handling the negotiation process, adding Biden and Democratic leadership were “short-circuiting” the process by using reconciliation.
What To Watch For
Who will get the $1,400 proposed stimulus checks is a major sticking point in negotiations over the package itself. Sen. Joe Manchin (D-W.Va.) is strongly pushing to limit who qualifies for the checks from the proposed level of individuals making under $75,000 a year. Losing the support of Manchin or any other Senate Democrat would result in the package failing to pass. Some Democrats have floated the idea of lowering the threshold for full checks to individuals making under $50,000 a year.
Key Background
The Senate approved the budget resolution to move forward with the reconciliation process early Friday morning, after hours of a late night “vote-a-rama” session. Biden made unity and bipartisanship a key theme of his taking office as president, but has said his priority on Covid-19 relief is to get help out the door as soon as possible. He met with a group of Senate Republicans earlier this week, who presented a $618 billion stimulus package, which the president quickly rejected. Senate Majority Leader Chuck Schumer said Tuesday Biden is “totally on board” with using reconciliation to pass the stimulus package.
Surprising Fact
Hundreds of officials who worked in former President Barack Obama’s administration penned a letter Friday calling for Democrats to pass a large stimulus package. But that letter notably did not include Obama’s first National Economic Council director, Larry Summers, who believes the $1.9 trillion proposal might be too large.
Further Reading
Report: Democrats Open To Capping Income For Stimulus Checks At $50,000 A Year For Individuals (Forbes)
Senate Approves Budget Resolution Paving The Way For Biden’s $1.9 Trillion Stimulus Plan (Forbes)
Over 200 Ex-Obama Officials Call For Large Stimulus Bill — Not Including Larry Summers (Forbes)
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The Link LonkFebruary 06, 2021 at 01:42AM
https://www.forbes.com/sites/nicholasreimann/2021/02/05/biden-easy-choice-to-quickly-pass-stimulus-rather-than-work-with-republicans/
Biden: ‘Easy Choice’ To Quickly Pass Stimulus Rather Than Work With Republicans - Forbes
https://news.google.com/search?q=easy&hl=en-US&gl=US&ceid=US:en
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