Coronavirus Stimulus Bill Fails in Senate, Democrats Demand More Protections for Citizens

"Too generous to big corporations and too stingy for working families."
Mitch McConnell (Image via CNBC)

Senate Majority Leader Mitch McConnell said the Senate would vote again Monday morning to take up a stalled economic stimulus bill that Democrats blocked early Sunday evening, which critics said was too generous to big corporations and too stingy for working families.

What We Know:

  • McConnell stated, the next Senate vote, a procedural roll call to take up the bill, will take place at 9:45 Monday morning, unless there’s a breakthrough before then.
  • His remarks came as Democrats negotiated late into the night with top Trump administration officials over the details of a possible deal. There are numerous sticking points, including restrictions on corporate bailouts and the scope of assistance to state and local governments.
  • McConnell, R-Ky., blasted Democrats for opposing a GOP-crafted coronavirus rescue package and said he hoped they would have a “change of heart” after the U.S. financial markets opened Monday morning. McConnell noted there were already signs of another bad day on Wall Street as Congress remained gridlocked over how to help laid-off workers and shuttered businesses.
  • “The future market tanked in anticipation of an ugly tomorrow based upon an absence of bipartisan agreement,” McConnell stated in his remarks Sunday evening. “Even if Democrats reverse course tomorrow, the vote cast today will almost certain cause more Americans to lose their jobs.”

Most Democrats are saying McConnell is trying to jam through a bill that would give big corporations a bailout with too few strings attached. They fear CEOs would take taxpayer funds and then enrich themselves with stock buybacks and executive pay hikes once the panic has passed.

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Javier Garay is an Digital Intern at UnmutedCo.

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