Published: Tue, March 24, 2020
Markets | By Otis Pena

Why Did Democrats Block the Coronavirus Stimulus Bill?

Why Did Democrats Block the Coronavirus Stimulus Bill?

The stakes are high for the financial services industry as lawmakers battle over the details of a new stimulus package to provide economic relief for businesses and consumers affected by the coronavirus outbreak. "Why are Democrats filibustering the bipartisan bill they helped write?"

Senate Democrats have blocked for the second time the procedural vote on the stimulus bill, meant to help the United States workers and companies shut down over the Covid-19 pandemic.

Restaurants ordered to close dine-in services as total case number climbs
Ten people have now died from COVID-19 in B.C., nine of whom are linked to the Lynn Valley Care Centre in North Vancouver. She said testing capacity continues to increase and the province continues to test thousands of cases.

Senate Majority Leader Mitch McConnell ramped up the pressure on Senate Democrats late Sunday night when he scheduled another procedural vote on the coronavirus stimulus bill for 9:45 a.m. Monday - minutes after the stock market opens - but it was blocked by Democrats who don't want to be forced to take the vote. But they insisted it needed to include more oversight provisions for a $500 billion fund to help large businesses. "We're not gonna do this", Graham said of the bill, accusing the House of "holding hostage" relief for Americans. "But you know, I hope I'm wrong".

"His folks are hip-deep negotiating with Mnuchin, which is a good sign", Democratic Senator Chris Coons said. But reports emerged Monday that Democrats are also pushing for the inclusion of measures entirely unrelated to the coronavirus response, including "unprecedented collective bargaining powers for unions", "increased fuel emissions standards for airlines", and "expansion of wind and solar tax credits". He said Democrats were playing games with the American economy and people, and that talks were further strained after House Speaker Nancy Pelosi (D-Calif.)-who's expected to introduce her own version of a stimulus-became involved in talks over the weekend. Republican Senator Rand Paul said he tested positive for the virus on Sunday, and several others have self-quarantined as a precautionary measure. "The broader the testing and the less finger-pointing we have, the better", he said in a statement.

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