Democrats Near Deal With White House on Stimulus Package

[marble falls]

Source: NYT

Democrats Near Deal With White House on Stimulus Package

Top Democrats and administration officials said they were optimistic about finalizing a compromise on a $2 trillion economic package after agreeing to add oversight for a bailout fund.

By Emily Cochrane and Nicholas Fandos

March 24, 2020
Updated 6:21 p.m. ET

WASHINGTON — Congressional leaders and Trump administration officials closed in on a deal on Tuesday on a roughly $2 trillion economic stabilization plan to respond to the coronavirus pandemic, after agreeing to Democratic demands to add oversight requirements for a $500 billion government bailout fund for distressed companies.

Negotiators were hammering out the final details of the plan, which is aimed at delivering critical financial support to businesses forced to shut their doors and relief to American families and hospitals reeling from the rapid spread of the disease and the resulting economic disruption. With lawmakers and White House officials expressing optimism for an agreement, the measure could be enacted within days.

A crucial breakthrough came when Democrats won concessions from the Trump administration to add strict oversight over the $500 billion corporate aid fund, including installing an inspector general and a panel appointed by Congress to monitor it. The vast majority of the fund would go to the Federal Reserve to cover loans.

<snip>

At the White House, Larry Kudlow, the top economic adviser, said there had been “great progress” on the measure, which he said was “urgently needed to bolster the economy, provide cash infusions and liquidity and stabilize financial markets to get us through a difficult period.”

<snip>

Sheryl Gay Stolberg contributed reporting.

Read more: https://www.nytimes.com/2020/03/24/us/politics/coronavirus-stimulus-bill.html?action=click&module=Well&pgtype=Homepage&section=Politics

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I still don't like the slush funds but at least there will be Congressional oversight.

[VMA131Marine]

1. Having the Fed distribute the money instead of Mnuchin is also a plus

[marble falls]

2. Yep. I wouldn't trust Mnunchin with watching my lunch.

[ResistantAmerican17]

3. Shitgibbon is a real believer in congressional

Oversight. Manmunchkin still hasn’t released those tax returns. Better than nothing I guess and with this crowd of cronies that’s where we are. But here’s to our guys on holding out for working folk. Silver lining in this turd cloud.

[marble falls]

5. This SEEMS to be a regulated regime. There will be over sight. Even Trump knows if there's ...

any hankpanker by against his voters who went into unglued panic over TP, he really does not want to piss him off. I think Pelosi didn't blink against Moscow's Mitch bluffery. They'll be writing about the great GOP TP panic in Psychology Today 20 years from now. It'll have its own wikipage.

The only place we aren't a majority is in the Senate. Anyone who says your isn't worth any thing is a liar.

[cstanleytech]

4. The Democrats should have also inserted that Trump was not allowed to misappropriate any more money

without the permission of Congress beforehand for his worthless wall.

[marble falls]

6. Well, at least Congress can catch him before he gloms very much of it. Impeachment? I say yes.

[cstanleytech]

7. Actually I'm hoping for prison for him because once he's out of office he's free game

and could face criminal charges for his actions while he was president as well as before he was president such as that whole fraud thing with Trump University.

[marble falls]

8. We'll probably never get to see his returns, but there forensic accountants who know how to ...

find every.single.penny. I want Holy Mike to go to be impeached with Trump so we can have a Nancy Pelosi Presidency to hand over the WH to incming President Biden on Jan 20.

But all that maybe in a perfect world. Just keeping Donnie Two Scoops off balance before he goes down one way or another, we don't want a Holy Mike Pence Presidency, he not talks to G*d, they have actual conversations. I pay a couple of buck to catch one of those.

[Dorn]

9. Why is any money going to businesses?

My brother runs a small business, with about 10 employees. All of his customers have stopped buying his products, he laid off all of his employees, he has enough to pay for electricity which is reduced because his doors are closed. He might not pay his loans after April. He will have less money when this is all over as will you and I.

Pay people.

If you want to pay businesses create a loan freeze rule where the banks will freeze their loans for 2 or 3 months; any interest payments would be paid by the treasury.

Pay people.

[jorgevlorgan]

10. Nothing so transparently proved how psychopathic republicans are but these blatant attempts

to give rich people our money.