- Mitch McConnell said in May that House Speaker Nancy Pelosi “had no chance of getting a bill $ 3 trillion.”
- The majority leader of the House of Representatives was initially reluctant to support a fourth incentive bill, and called for a wait to see how well states reopen.
- Shortly before the end of July, there were provisions in the Third Incentive Act, the First Chamber proposed a $ 1 trillion package that would reduce extended unemployment benefits and avoid coronavirus-related liability for employers, among other things.
- McConnell has also expressed support for changing federal law to allow states to go bankrupt frequently.
- Many of the Republican Senate may no longer be able to help, The Associated Press reported, asking McConnell to stay on the sidelines.
- Visit the Business Insider website for more stories.
The federal government made history in March when it introduced a $ 2.2 trillion incentive package that included an unusual expansion of unemployment benefits and a $ 349 billion program for small business loans.
The law was the third relief package during the coronavirus pandemic – but it might not have been enough.
In mid-May, the House Democrats passed a fourth stimulus package to the tune of $ 3 trillion. Chamber member Nancy Pelosi had an early vote saying the massive third package needed a successor. She called for another round of direct payments to Americans as the $ 1,200 checks were sent to people under the March law.
House Speaker Mitch McConnell said in an in-depth speech on May 12, the day the House bill was introduced, that it “had no chance of becoming law,” Business Insider reported.
By the end of July, provisions in the third package had expired, and McConnell, Pelosi, and the White House could not agree on a replacement. President Donald Trump acted unilaterally over the weekend, signing executive actions on unemployment, including that can be neither effective nor constitutional.
The coronavirus outbreak, which has infected more than 5 million Americans, shut down nonessential businesses in most states – including many in hairdressing and food services – and led to a record number of unemployed claims: more than 55 million over 20 weeks.
As much of the economy reopened in May and job reports showed signs of recovery, the Republican position was to wait and see if another package would be necessary. But spikes in reported cases of coronavirus in late June and the U.S. record highs for daily business in July threatened that momentum.
McConnell is one of the main negotiators of the incentive package, but his position has changed over time.
