Tom Block’s Takeaways: Rescue bill hangs in the balance while Biden is apparent nominee

  • Senate failed last night to move on coronavirus Phase 3 bill, McConnell tried to write bill without Speaker Pelosi, strategy failed, hope to pick up pieces today.
  • Secretary of Treasury Mnuchin, again key player, needs to cut deal with Democrats, goal is to get agreement today.
  • House is not in session. Therefore, to pass bill in next few days need to get unanimous consent in House, only way to pass with Members not in DC. Senate is operating with narrow 48 to 47 Republican majority with five Republicans in quarantine.
    Points of contention appear to be operations of $500 billion stabilization fund administered by Treasury, money to state and local hospitals, and funds for hospitals.
  • House will need its own items in legislation, may focus on increased unemployment and small business assistance.
  • With markets looking for action an agreement should come today but no later than Friday.
  • Former Vice President Joe Biden widens delegate lead over Senator Sanders as the Senator looks for exit strategy.
Coronavirus After the Senate passed the Phase 2 coronavirus bill that was exclusively written by the White...

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