Coronavirus Stimulus Plan Fails In Senate For 2nd Time As Democrats Block Trillion-Dollar ‘Mnuchin Slush Fund’
A plan meant to stimulate the economy as it suffers in response to the coronavirus pandemic failed in the U.S. Senate for a second time on Monday afternoon as Democrats blocked the the GOP-written bill.
The plan, which includes about $1.8 trillion in aid to workers and companies, was crafted over the weekend with Democratic input.
“I think we’re very close. The teams are going to work through the night. We’re going to regroup the principals in the morning,” Treasury Secretary Steven Mnuchin said. “We’re going to work very hard to get this done tomorrow.”
Senate Minority Leader Chuck Schumer said that although there were “some serious problems” with the plans Republicans put forward, he believed a deal would be reached soon. “We’re getting closer and closer and I’m very hopeful … that we could get a bill in the morning,” he said. Schumer and other Democrats have labeled the bill a ‘Mnuchin slush fund’ due to the lack of transparency and oversight in the bill.
Senate Majority Leader Mitch McConnell set a deadline of Monday in hopes of avoiding another poor stock market day. Schumer, however, didn’t believe that deadline would be met. “We are making progress. I think there’s a good chance we’ll have an agreement. But we don’t need artificial deadlines,” he said.
McConnell then agreed to push back the vote to Monday at noon, saying on the Senate floor, “Maybe there will be some miraculous coming together tonight. I hope so. If not, we will now be voting at noon rather than 9:45.”
“Our nation cannot afford the game of chicken,” McConnell said late Sunday night. “This . . . is a national emergency, not a partisan opportunity.”