Biden's $1.9 Trillion Stimulus Plan Faces Senate Hurdle as Debate Opens
Published Date: 3/3/2021
Source: Bloomberg Quicktake: Now
President Joe Biden’s imperative of swiftly passing his $1.9 trillion pandemic-relief program faces one of its final hurdles: settling disputes among Senate Democrats over how to ensure aid gets to those who truly need it. With Republicans accusing Democrats of advancing a mammoth spending bill just as the economy is poised to accelerate, a handful of moderate senators is pushing for changes that reduce the risk of assistance flowing to households relatively unscathed by the crisis or to individuals who’d otherwise head back to work. The Biden administration has consistently argued that the risk of going too small is greater than the danger of excess spending. The president has urged Democrats, above all, to get the bill passed quickly. The Senate is planning to formally open debate on the pandemic-relief bill as soon as Wednesday afternoon. Senior Democratic lawmakers gave every indication that their caucus will be able to sort through the debate over potential tweaks to the proposed $400-a-week supplemental unemployment benefit and $1,400 stimulus checks included in the House version of the aid bill. “Bottom line is we have got to get this done because that cliff is coming,” said Senate Finance Committee chairman Ron Wyden, referring to the mid-March expiration of some previously enacted federal help. “I’m doing everything I can to keep the foot on the pedal.” Democrats are aiming to resolve their outstanding differences before the amendment process, known as the vote-a-rama, begins as soon as Thursday. Once that begins, the danger is that Republicans could reshape some of the provisions by peeling off just one Democrat, given the chamber’s 50-50 partisan split. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake