U.S. lawmakers were rushing ahead on Thursday with forging a massive economic st...
WASHINGTON - U.S. lawmakers were rushing ahead on Thursday with forging a massive economic stimulus measure to counter the destructive impact of the coronavirus, with the Senate’s leader vowing not to let the chamber adjourn until the mission is accomplished.
Only then did they plan to start negotiations with Democrats. Top Democrats said that was backward. Both House of Representatives Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer said the fastest route to finishing a package would be to have the leaders of both parties and chambers in talks with the White House.
Senate Majority Leader Mitch McConnell, a Republican, said the Senate would remain in session until it finishes the legislation and sends it to the House. “I would recommend senators stay around, close,” he said on the Senate floor. “We are moving rapidly because the situation demands it.” The strategy, as outlined in a Treasury Department memo, also would provide $300 billion for small businesses, $50 billion in loans for cash-strapped airlines and $150 billion for loan guarantees to other distressed economic sectors.
“If we do not act to help the small-business sector, I predict that we will see massive layoffs and an inordinate number of small businesses shutting their doors. They simply won’t be able to survive,” Collins said, adding: “My hope is that we will pass it sometime this weekend.”
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