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Yesterday, we heard some very unexpected comments from one of the top leaders in the Democratic Party that suggests this stimulus package might be happening before the November election.
Speaker Nancy Pelosi of California said on Tuesday that the House would not leave for the November elections without acting on an additional round of federal aid.
“We have to stay here until we have a bill,” Ms. Pelosi privately told lawmakers during a conference call on Tuesday morning.
“We are committed to staying here until we have an agreement that meets the needs of the American people.”
This is huge news considering that many experts have been speculating that Democrats will not be willing to compromise until after the elections take place.
There are reportedly a lot of centrist Democrats who are feeling a lot of pressure to act on another stimulus package since the prospect of returning home to constituents without any results is a major worry.
For example, Representative Elissa Slotkin, Democrat of Michigan stated, “None of us want to go back to our constituents and say that we didn’t try, that we didn’t do everything we could.”
Representative Kathleen Rice, Democrat of New York also chimed in.
“When I speak to my constituents, they don’t ask me why Mitch McConnell isn’t doing anything… They ask me what our Democratic majority is doing to work around him.”
We’ve already seen that a huge number of small businesses such as restaurants and beauty salons, have permanently closed since the summer so many Americans are feeling the hurt of the pandemic despite what the stock market might show.
Unfortunately, Democrats and Republicans have reportedly rejected the $1.5 trillion proposal that was drawn up by the Problem Solvers Caucus.
Only hours after the proposal was presented, Democrats expressed their thoughts on the package:
“When it comes to bolstering the public health system, supporting state and local governments and assisting struggling families, the Problem Solvers’ proposal leaves too many needs unmet,” they wrote.
“With the general election just 49 days away and the Postal Service sabotaged by the Trump administration, their proposal also abandons our responsibility to protect the life of our democracy.”
At the same time, the president is once again being vocal about his support for more stimulus checks and another stimulus package.
“Democrats are “heartless”. They don’t want to give STIMULUS PAYMENTS to people who desperately need the money, and whose fault it was NOT that the plague came in from China. Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!).”
So all of a sudden it looks like we might see something get done before the elections.
I wouldn’t necessarily count on something happening based on how things have gone down the past few months.
But at the very least we’ve seen an earnest attempt from a core group of lawmakers (on both sides) to get things done and that can give us some hope.
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Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.