Senate still working on stimulus
by Harvest Prude
Posted 3/23/20, 11:19 am
WASHINGTON—Senate Democrats voted Sunday to block an economic relief bill because it did not have enough worker protections. The $1 trillion proposal includes $350 billion to help small businesses make payroll and up to $1,200 for each taxpayer. Lawmakers will vote again on Monday.
How is the economy responding? Markets slumped again Monday morning. The Federal Reserve tried to give them a boost by announcing it will buy unlimited Treasury bonds. The Fed also will lend to businesses and local governments to keep credit flowing.
As the Senate tries to break its impasse, it is losing crucial votes. Sen. Rand Paul, R-Ky., became the first senator to test positive for COVID-19. GOP Sens. Mike Lee and Mitt Romney of Utah are in self-quarantine after interacting with Paul. Congress may need to change rules so lawmakers can vote remotely. A member of Vice President Mike Pence’s staff has COVID-19, but Pence and his wife tested negative.
Dig deeper: Listen to Moneybeat on The World and Everything In It for historical context on today’s economic crisis.
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Harvest is a reporter for WORLD based in Washington, D.C.