Democratic socialist Rep. Alexandria Ocasio-Cortez’s (D-NY) former chief of staff Saikat Chakrabarti torched Democrat House Speaker Nancy Pelosi for playing games with the multi-trillion dollar coronavirus stimulus bill.
“Well I do think that there is a whole concern in our country that if we’re giving tens of billions of dollars to the airlines that we could at least have a shared value about what happens to the environment, but that is an excuse, not a reason, uh, for Senator McConnell to go forward,” Pelosi said in a video clip posted on Twitter. “Some of the other issues, like not fully extending family medical leave, not funding food stamps, I hope that will all change in the next few hours, but they’re issues that are central to the well being of America’s families.”
Chakrabarti responded on Twitter by writing, “I helped write the #GreenNewDeal and I think this is ridiculous. The tiny little emissions standard increase doesn’t even do anything meaningful to stave off climate change and gives the @GOP leverage to get rid of real help for working people. Solve the problem at hand.”
I helped write the #GreenNewDeal and I think this is ridiculous.
The tiny little emissions standard increase doesn’t even do anything meaningful to stave off climate change and gives the @GOP leverage to get rid of real help for working people.
Solve the problem at hand. https://t.co/KemaYkV7gn
— Saikat Chakrabarti (@saikatc) March 25, 2020
Pelosi had reportedly ruined Senate talks between the Republicans and Democrats on Sunday, which postponed getting a bill done to protect American families and the economy for several days.
White House and Senate leaders reached a deal on a $2 trillion stimulus spending bill during the early morning hours on Wednesday.
The Washington Post reported (formatting adjusted):
The agreement capped five straight days of intensive negotiations that occasionally descended into partisan warfare as the nation’s economy reeled from the deadly pandemic, with schools and businesses closed, mass layoffs slamming the workforce and tens of thousands falling ill.
The legislation, unprecedented in its size and scope, aims to flood the economy with capital by sending $1,200 checks to many Americans, creating a $367 billion loan program for small businesses and setting up a $500 billion fund for industries, cities and states. Other provisions include a massive boost to unemployment insurance, $150 billion for state and local stimulus funds and $130 billion for hospitals. …
The Senate bill would direct payments of $1,200 to most American adults and $500 to most children, create a $500 billion lending program for companies, states and cities, and extend an additional $367 billion to help small companies deal with payroll problems. It would bolster the unemployment insurance system and pump $150 billion into U.S. hospitals. The bill more than doubled in size in just a few days.
White House economic adviser Larry Kudlow said during a press conference on Tuesday that the multi-phase stimulus spending packages would total a staggering $6 trillion and would be the largest spending bill in history.
“This package will be the single largest main street assistance program in the history of the United States,” Kudlow said. “The single largest main street assistance program in the history of the United States.”
“This legislation is urgently needed to bolster the economy, provide cash injections and liquidity and stabilize financial markets to get us through a difficult period, a difficult and challenging period in the economy facing us right now but also to position us for what I think can be an economic rebound later this year,” Kudlow continued. “Phase two delivered the sick leave for individuals, hourly workers, families and so forth. Phase three, a significant package for small businesses, loan guarantees will be included. We’re going to take out expenses and lost revenues.”
“The total package here comes to roughly $6 trillion: $2 trillion direct assistance, roughly $4 trillion in federal reserve lending power,” Kudlow added. “Again, it will be the largest main street financial package in the history of the United States.”