Fiscal Message
It’s the latest positioning for Republicans who may be seeking to portray an image of supporting fiscal discipline in the event that Joe Biden wins the White House and seeks more expansive federal spending. The No. 2 Senate Republican, John Thune, underscored Monday that “it would be hard” to find enough GOP members to back a $1.8 trillion stimulus, the scale of the White House’s most recent proposal.
Even so, Trump Tuesday reiterated his view that McConnell will proceed with any bill agreed between the administration and Pelosi. “He’ll be on board if something comes,” he said.
Meantime, Senate Democratic Leader Chuck Schumer again rejected McConnell’s moves for skinny assistance packages. “The Republican proposal was unacceptable a month ago. It remains unacceptable now -- even more so that the crisis has gotten even worse,” he said Monday.
Trump administration officials keep insisting that Senate Republicans will come around. An easier outcome for McConnell will be if the talks between Pelosi and Mnuchin fall through.
Hammill said Democratic committee chairmen have been directed to work with their Republican counterparts in the Senate to resolve the most stubborn sticking points.
They have plenty to work on. In a conference call earlier Monday, Pelosi told House Democrats that significant areas of disagreement are standing in the way of any deal. House committee chairmen also explained why they should hold firm on their priorities for coronavirus relief.
“Markets remain extremely skeptical,” said Ray Attrill, head of foreign-exchange strategy at National Australia Bank Ltd. in Sydney. “There’s a sliver of optimism there, but the stock market today is saying more likely than not, it’s not going to happen,” he said after the S&P 500 Index slumped Monday. It closed down 1.6%.
This article was provided by Bloomberg News.