After claiming the Democrats did “jiu jitsu” on the $2 trillion coronavirus aid package in order to focus more on individuals rather than corporations, Speaker Nancy Pelosi, who turns 80 today, said the House will take up the measure tomorrow. 

While she said Thursday that she is “very proud of the product” and expects it to pass with strong bipartisan support, she does not expect unanimous consent. 

Echoing warnings of public health officials nationwide, Pelosi said getting coronavirus under control “won’t happen unless we respect science, science, science. And for those who say we choose prayer over science, I say science is an answer to our prayers.” 

Pelosi, who worked closely with Treasury Secretary Steven Mnuchin on negotiating the Phase III bill, said “with all the respect in the world” for Mnuchin, “there was this idea they put forth there would be a $500 billion slush fund for the Secretary of the Treasury with no accountability, whatsoever. Are you kidding?” Pelosi said she is pleased the new language in the bill has a Treasury inspector general and a five-person Congressional oversight committee to oversee the distribution of those funds. 

Pelosi is expected to introduce the 880-page Coronavirus Aid, Relief, and Economic Security (or CARES) Act to the House tomorrow. House Majority Leader Steny Hoyer said the chamber will likely consider the bill by voice vote, with an option for House members to debate on the floor. 

The bill faced last-minute opposition from both sides of the Senate aisle. Some Republicans argued provisions of the act disincentivized people from working while Democrats argued there was too much relief for corporations, rather than individuals. 

While listing off changes to the bill that she was happy with, Pelosi noted that money to major corporations like airlines are conditional upon those funds going directly to workers. 

“With all three of our bills, we have put families and workers first,” she said. She also expressed hope that a potential Phase IV of the relief bill will offer even more worker protections and increased state and local funding. 

As she urged people to continue staying home and following warnings of health officials, Pelosi said “the markets are not going to succeed unless we take care of people,” she said. 

Without naming the president directly, Pelosi pushed back on the administration’s suggestion that the federal government ease social distancing guidelines and urged him to invoke the Defense Production Act to increase production of ventilators and coordinate distribution. If the nation does not act carefully, she warned “the light at the end of the tunnel may be a train coming at us.” 

She also said she was disappointed that Republicans would not agree to an increase in food stamp benefits. In response, she has included that as a priority for another phase of the deal. Other priorities include expanding Family and Medical Leave Act and workplace health and safety protections, expanding the allowance of pension smoothing, and creating a better funding formula for the District of Columbia, which was classified as a territory rather than a state in the Phase III plan. 

Though Pelosi said ‘nothing surprises me around here,” she found it “curious” that Washington D.C. was treated “in a very discriminatory way.”

“It doesn’t make sense unless you have some other motivation,” she said. 

Still, Pelosi said, “We will have a victory tomorrow for America’s workers.” 

But although she may be planning to celebrate a legislative victory tomorrow, her more personal birthday celebration will have to wait until she can hug her grandchildre

Share:
More In Politics
Pfizer Ask FDA To Authorize Boosters For All Adults
Pfizer has asked the FDA to expand authorization of COVID booster shots for all adults. The agency is expected to grant the request in the coming weeks, allowing vaccinated Americans as young as 18 to get boosted before the holidays. Dr. Bayo Curry-Winchell, Regional Clinical Director at Carbon Health, joined Cheddar to discuss.
DOJ Sues To Stop Penguin Random House From Acquiring Simon & Schuster
The Justice Department has filed a lawsuit to block Penguin Random House from acquiring its rival Simon & Schuster. The DOJ hopes this will block the merger, which it says would ultimately hurt authors and consumers nationwide. Barry C. Lynn, executive director of the Open Markets Institute, joined Cheddar to explain what the lawsuit signals about the Biden administration's approach to cracking down on antitrust, and why Amazon might be next.
Stocks Pull Back From Previous Day's Record Closes
The major markets took a breather Tuesday, with the Dow, S&P, Nasdaq, and Russell 2000 all finishing lower after notching record closes on Monday. Rhys Williams, Chief Strategist at Spouting Rock Asset Management, joins Cheddar News' Closing Bell, where he provides his biggest takeaways from the day's activity.
Election Day 2021 Takeaways
Election Day 2021 is in the books, and it wasn't a pretty picture for Democrats. Governor Phil Murphy narrowly won re-election in New Jersey and Republican Glenn Youngkin upset Democrat Terry McAuliffe in Virginia, with many other disappointing losses for the left. Meridith McGraw, national correspondent for Politico, breaks down the key takeaways from this year as the nation looks ahead to the 2022 midterms.
Morning Consult Releases U.S. Economic Outlook for November
Almost 2 years into the pandemic, supply chain woes continue to wreak havoc on our everyday lives. From groceries to chip shortages, both consumers and retailers are feeling the strain with prices only climbing as a result. Data intelligence company Morning Consult is out with its U.S. Economic Outlook for November revealing just how much of a threat these hold-ups could pose to the greater economic recovery. John Leer, Chief Economist at Morning Consult joined Cheddar's Opening Bell.
Economic Impact of Biden's $1.2 trillion Infrastructure Bill
After many years and at least two presidents hoping to overhaul America's infrastructure, congress finally came to an agreement. The House passed the bipartisan infrastructure bill late Friday, receiving thirteen republican votes but failing to earn votes from the six progressive squad members. Joseph Zeballos-Roig, Economics Reporter at Insider joined Cheddar's Opening Bell to discuss the economic impact of the bill.
Load More