Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers.
Most of the updates that we have heard over the past couple of weeks have come from the talks between House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin.
Senate Majority Leader Mitch McConnell, who is probably the most key piece to the stimulus package puzzle, has been oddly quiet.
Up until now.
According to Fox, Senate Majority Leader Mitch McConnell announced Tuesday that he plans to “roll out a targeted coronavirus relief package next week.”
Shortly after this announcement President Trump tweeted, “STIMULUS! Go big or go home!!!”
This is very interesting because the proposals and counter proposals between Democrats an the White House only mean so much.
At the end of the day, the big question is what will Republicans in the Senate be willing to agree to and Mitch McConnell is the key to the decision.
It seems that he has now got a proposal that is ready to be released next week that could potentially be the counter offer we have been waiting for.
One interesting thing about the package is that it is being described as a “targeted” package.
This would seem to indicate that it is only meant to address a few of the needs being discussed.
If that is true then I don’t think that the Democrats will go for it.
I’m sure McConnell is anticipating this and he has voiced his displeasure with the Democratic Party when it comes to blocking stimulus aid.
“Republicans do not agree that nothing is better than something for working families. The American people need Democrats to stop blocking bipartisan funding and let us replenish the PPP before more Americans lose their jobs needlessly,” McConnell said.
McConnell also reiterated that the Senate will have enough time to consider this package next week as well as consider Judge Amy Coney Barrett’s nomination.
The last couple of proposals from the Republicans have fallen flat so it will be interesting to see how much Republicans are willing to up the price of their latest proposal.
Judging by the term targeted, it doesn’t sound like they are going to blow away the Democrats with their new price tag.
UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
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.