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Stimulus Gridlock: McConnell Says Democrats 'Poured Cold Water’ Relief Offers
Posted
December 9, 2020
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3:56Now PlayingSenate Majority Leader Mitch McConnell said Democrats “poured cold water” on his offer for a virus stimulus to set aside some issues in an aid bill and rebuffed Treasury Secretary Steven Mnuchin’s $916 billion proposal.
The Democratic and Republican lawmakers working on a relief plan delivered a more detailed summary of their proposal Wednesday. Their outline, obtained by Bloomberg News, largely follows the contours of their initial $908 billion offer, filling in amounts and some specific programs. But the lack of a compromise proposal on state aid and liability limits raises questions of whether it will provide the path forward to an agreement that can be formed into legislation over the next week.
“To the extent they can’t come to an agreement on stimulus given the heightened urgency, given the recent outbreak, that’s a bad message,” said Mark Heppenstall, chief investment officer for Penn Mutual Asset Management. “I do think stimulus is coming and I think the market was more prepared for it to be this year than next year.”
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