Coronavirus stimulus plan pushed by Navarro, urges end to partisan bickering
Navarro on coronavirus relief: We can’t have partisan bickering
Senate fails to advance economic rescue bill; White House trade adviser Peter Navarro on economic impact of coronavirus.
President Trump's top trade adviser Peter Navarro urged Congress to pass a massive stimulus package that would provide aid to Americans hammered by the coronavirus pandemic as Senate Democrats continue to block movement on the bill.
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"We’ve got to work that magic," Navarro said during an interview on Fox News. "But as you can see, if this devolves into a partisan struggle, that’s not good for American and it certainly creates volatility in the markets."
The bill would send checks of up to $1,200 to taxpayers who earn less than $99,000 a year, provide loans for small businesses and large tax cuts for big corporations.
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"What I am watching from afar is a partisan struggle that needs to stop. The president was quite clear in his press briefing yesterday the most important part of package needs to be American workers first," Navarro said.
But Democrats on Monday held up the aid package once again, saying they would not pass the $1.8 trillion bill until they secured stronger worker protections and put restrictions on bailouts for businesses.
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“We Democrats are trying to get things done, not making partisan speech after partisan speech,” Senate Minority Leader Chuck Schumer said. “Our goal is to reach a deal today, and we are hopeful, even confident, that we will meet that goal.”
At the center of the dispute is Senate Republicans' calls for a $500 billion fund that the Federal Reserve could leverage for loans to help companies and use to provide industry-specific loans. Congressional Democrats have insisted the bill needs guardrails to prevent firms that receive the aid from firing their workers or stripping them of their health care, and have also questioned giving Treasury Secretary Steven Mnuchin so much leeway to determine which companies receive the assistance.
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