Thursday, April 23, 2020

McConnell: 'We're going to push the pause button' on State Bailouts

Senate Majority Leader Mitch McConnell said Wednesday that Republicans won't support legislation that would provide billions in economic aid to help states replenish underfunded pension funds.
McConnell, a Kentucky Republican, told the Hugh Hewitt radio show he will not rush to pass a new and massive economic aid package Democrats are now crafting that would provide billions more to state and local governments coping with economic losses caused by the coronavirus and to support troubled pension programs.
“We’re going to push the pause button here because I think this whole business of additional assistance for state and local governments needs to be thoroughly evaluated,” McConnell told Hewitt.
Democrats on Tuesday said they are writing an economic aid package “along the lines” of a $2.2 trillion funding bill President Trump signed into law on March 28. Congress has passed three economic aid bills so far and is poised to pass a fourth measure on Thursday worth $484 billion.
Democrats yesterday said their next economic aid bill would prioritize providing massive aid to state and local governments to cope with revenue losses caused by the economic slowdown. They said the bill would also include bonuses for those working in grocery stores and healthcare facilities and a bailout of the U.S. Postal Service, which has lost revenue during the coronavirus outbreak but has long been in debt.
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