House Speaker Nancy Pelosi Facilitates Passing of $2.2 Trillion Coronavirus Stimulus Bill

The House yesterday passed a $2.2 trillion coronavirus package bill in a Democrats-only vote even as talks of a bipartisan deal fell through. However, the House Speaker, Nancy Pelosi, said the talks are in progress and there might just be a chance that both parties will come to an agreement before the November election.

It was a vote of 214-207 that saw no Republican member support the bill. Eighteen Democrats, mostly from swing states, voted to shut the bill down. Their decision, they argued, was prompted by the fact that the passage of the bill would hinder further efforts to find a bipartisan resolution to the impasse, CNBC reports.

This bill comes on the heels of months of negotiations that have seen neither side of the divide willing to back down from a stimulus package that will help the cause of the average American amidst the rising cases of the coronavirus across the country.

When asked what her next step will be, Pelosi told reporters on Thursday evening that she will be reviewing documents sent to her by the Treasury Secretary, Steven Mnuchin, in order to determine her next steps.

With increasing pressure from their constituents, this bill offers Democrats a sort of leverage to persuade their voters that more aid is in the offing for them. However, the Republicans have roundly rejected the new package by the Democrats as too expensive, and this new bill is not expected to be passed by the Republican-led Senate.

While talks are expected to continue between Pelosi and Mnuchin, the Speaker has said that the main issue does not lie in reaching an agreement in principle, but stressed the need for both parties to buttress the intricate details of the agreement in the right legislative language. “It is the language,” Pelosi said.

There was a tweet by Drew Hammill, Pelosi’s Deputy Chief of Staff, in which he said that his boss and Mnuchin have spoken at length and clarified some grey areas on the size of the package and the right language to go with it. However, there are still some key issues that need sorting out.

With the presidential and congressional elections barely a month away, the clock is ticking fast for both parties. Congress is expected to go on recess early for the final leg of campaigns.

According to data and opinions from leading economists, the impact of the former stimulus package that was signed way back in March is already fading. After the expiration of the former package, the average income of Americans is already falling short.

Although the Trump administration is offering citizens hope of an economic recovery, the recent layoffs and furlough by major companies in the US suggest otherwise. Days ago, Disney laid off 28,000 staff and major Airlines are planning to take the same route in the coming days.