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.
As we approach the election, time has never been more of the essence than right now.
Negotiations have continued to progress between the White House and Nancy Pelosi and we have heard that they have been drafting up their proposal for a couple of days now.
Based on various reports, it seems like they are extremely close to coming to a final agreement.
Pelosi even stated “I think we are about there.”
However, a big issue is how Republicans will respond.
A lot of experts speculate that Republicans will reject a large stimulus package that will likely come in at around $1.9 trillion.
But there are also reports of some Republicans getting on board such as Marco Rubio and Lindsey Graham.
We also recently heard from a Republican lawmaker who stressed the need for a deal to get done.
Congressman Darin LaHood (R-IL) reiterated that many Americans are struggling in that another stimulus bill should not be a Democrat or Republican issue.
“This shouldn’t be about politics, it should be about helping the American people and I’m prepared to go back and vote on a package that’s going help our small businesses,” LaHood said.
He also echoed the sentiment that a lot of Americans expressed about lawmakers not staying in session long enough to get the job done.
“It’s frustrating that Pelosi is playing politics and dragging this out. We should have never left Washington D.C. She should have kept us in session until we got it done.”
One of the worries that is starting to get expressed is what is going to happen to some of these businesses during the winter months, especially in regions of the country that experience true winters where outdoor activity is essentially shut down.
LaHood said he is worried about many of these small businesses and industries like travel amid the pandemic.
“There are businesses, workers and people that are struggling right now and I worry about our small businesses as the winter months come along particularly the travel or restaurant industry. You may not make it unless we step in and help.”
While he is not a Senator, I am starting to increasingly hear more support from Republicans in Washington regarding another relief bill.
Ultimately, we might not know where Republicans stand until the actual voting takes place but I think there is a reasonable chance they will support the bill.
We know that about 22 of them are up for re-election and if only about half of them voted in favor of a stimulus package, it would pass the Senate.
Considering the impact that voting against the stimulus package could have on some of the election odds, there may be added pressure to go along with a large relief bill which could help this pass more easily.
Either way, next week is shaping up to be the most important week we’ve ever seen for stimulus negotiations.
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.