So the notion that we have time to play games here with the American economy and American people is utterly absurd. SENATE MAJORITY LEADER MITCH MCCONNELL was about as angry as he ever is - at least publicly - from the floor after the motion was defeated: “The American people are watching this spectacle. would swiftly pass a massive stimulus package to immediately pump money into an economy that is largely shuttered and could soon suffer millions of job losses and a second quarter that could see growth contract by more than 10 percent.” MORNING MONEY SNEAK PEAK via BEN WHITE - THE NO DEAL SCENARIO: “Markets are likely to drop sharply at the opening bell given the broad assumption among Wall Street traders that D.C. That timetable is in serious jeopardy at this point. Treasury Secretary STEVEN MNUCHIN was the first person to throw out Monday as the deadline for this package’s passage.īUT SUNDAY’S VOTE was a blow to McConnell, who had wanted to have final passage on the legislation on Monday. stock exchange opens tomorrow, they could be in for a very tumultuous day. But if they don’t make discernable progress before the U.S. In Washington, the polarization, gridlock, regulatory overreach, and inability to act smartly and strategically are making it harder for businesses to do their jobs and move this country forward.ĭEMOCRATS - SCHUMER and PELOSI - believe they now have tremendous leverage to change the package. Rising public policy risks threaten business growth, innovation, and our country’s global competitiveness. THE TWO SIDES are still in negotiations over the bill, and McConnell and Schumer say they could yet reach a deal tonight.Ĭoncerns about policy risks for public companies - changes in taxes, regulations, and enforcement - increased 27% over the last decade, according to a report from the U.S. They also say Treasury Secretary STEVE MNUCHIN would have too much influence over the disbursement of the money with insufficient oversight. Democrats say it has little oversight and does not help workers. THE MAIN ISSUE, according to Democrats, is a $500-billion “slush fund” that is aimed at helping companies that have suffered due to the economic slowdown. Democrats say Senate Majority Leader MITCH MCCONNELL (R-Ky.) didn’t accede to their demands.

REPUBLICANS are calling the Democrats’ efforts irresponsible - they blamed Speaker NANCY PELOSI. SENATE MINORITY LEADER CHUCK SCHUMER (N.Y.) held the entire Democratic caucus against the measure after two days of marathon negotiations. THE SENATE failed to clear a key procedural hurdle tonight on the massive $1.6-trillion coronavirus package, a major blow to the government’s efforts to immediately inject money into the economy during this global health crisis. IF YOU WERE COUNTING ON WASHINGTON to come together quickly and without drama to combat the coronavirus, you haven’t been reading Playbook, and you’ve probably been ignoring reality. Senate Minority Leader Chuck Schumer (N.Y.) held the entire Democratic caucus against the measure after two days of marathon negotiations.

National guard held in limbo