On Tuesday, Republicans and Democrats stopped negotiating on a stimulus bill for coronavirus relief. But today it’s Wednesday in Washington! A whole new day, with new realities.
What’s happening right now?
On Tuesday, President Trump ordered aides to cease negotiations with Democrats on the stimulus bill until after the election, effectively killing any chances of you receiving another stimulus check from the IRS this year.
Shortly thereafter, stocks tanked, and on Tuesday night, Trump seemed to reverse course on Twitter, telling Congress to “IMMEDIATELY Approve” $160 billion in aid to small businesses and airlines.
Is Trump thinking straight?
Was he ever? That’s a topic for another article. This week, he is ill with COVID-19 and is consuming a number of medications, the full list of which has not been released; on Tuesday House Speaker Nancy Pelosi questioned whether those medications were impacting his decision-making abilities. A new study shows that one third of hospitalized COVID-19 patients experience altered mental function.
What will happen now?
Unclear. Trump also tweeted on Tuesday night that he would sign a stand-alone bill for $1,200 stimulus checks. (“Are you listening Nancy?“) Democrats have insisted on a sizable, comprehensive aid bill that includes extensive funding for state and local governments, which is one of the major sticking points. Last week Democrats passed a $2.2 trillion stimulus bill through the House.
What will be in a stimulus bill?
All sides seem to agree on stimulus checks and an extended unemployment benefit. As of last week, the White House was backing a $1.6 trillion relief bill that included a $400 unemployment benefit. Eighty percent of Americans support another stimulus bill ASAP. For now, anything can happen. Stay tuned.