No Name, Early divisions as Congress weighs next help for economy

[Image]( EMAIL}/redirect Posted on Tuesday, March 31st, 2020 By Alan Fram, Associated Press WASHINGTON (AP) — The bipartisan partnership that propelled a $2.2 trillion economic rescue package through Congress just days ago is already showing signs of strain, raising questions about how quickly calls for massive followup legislation may bear fruit. House Speaker Nancy Pelosi, D-Calif., and fellow Democrats are collecting ideas for the next stab at stabilizing an economy knocked into free fall by the coronavirus outbreak. Their proposals include money for extended unemployment benefits, state and local governments, hospitals and a job-creating infrastructure program, plus expanded job protections and benefits for workers. “It's a wonderful opportunity," Pelosi told reporters this week, “because I think our country is united in wanting to not only address the immediate needs of the emergency and mitigation for the assault on our lives and livelihood, but also how we recover in a very positive way.” Congress' top Republicans say not so fast. They want lawmakers to gauge how well the huge, newly minted bailout programs are working and how the economy is behaving. And they're accusing Pelosi of planning to use the next bill to win Democratic priorities like environmental requirements and moving the country toward ballot by mail elections. “Let’s see how things are going and respond accordingly,” Senate Majority Leader Mitch McConnell, R-Ky., said Tuesday on Hugh Hewitt's talk radio show. He said that could take weeks and added, “I would think any kind of bill coming out of the House I would look at like Reagan suggested we look at the Russians — trust, but verify." “I'm not sure we need a fourth package,” House Minority Leader Kevin McCarthy, R-Calif., said on Fox News’ “Sunday Morning Futures.” Throwing another wild card into the mix, President Donald Trump on Tuesday blindsided congressional Republicans and embraced using the next round for a massive infrastructure package. Many in both parties have supported such a program before, but some Republicans have opposed it as too costly and there have long been crippling disagreements over how to pay for it. EMAIL}/redirect EMAIL}/redirect “It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4,” Trump tweeted. Trump later told reporters that the Federal Reserve cutting its benchmark interest rate earlier in March made it an ideal time to pursue an infrastructure deal. “Our interest payments would be almost zero, and we can borrow long term,” Trump said. “People want to be in the United States, they want to be invested in the United States." There seems little doubt that if the economy remains near its current morbid state, the major question facing lawmakers will be what the next bill should look like, not whether to have one. Growing numbers of business close by the day, consumer spending is plummeting and millions are losing jobs as much of the country shelters at home, a devil's brew that could be lethal for politicians to ignore before November's presidential and congressional elections. “I think there's a deal to be had this time" on infrastructure, said Rep. Greg Walden of Oregon, top Republican on the House Energy and Commerce Committee. Still, he said reaching agreement on another expensive package could be harder after last week's enormous $2.2 trillion bill. “We've already broken apart our grandkids' piggy bank. We're now getting into the great-grandkids' piggy banks, so let's be thoughtful on this,” he said. Stephen Moore, a former Trump senior adviser now with the conservative pro-business Committee to Unleash Prosperity, said he envisioned major problems for Congress in reaching an agreement. He said while the economy will likely need another large cash infusion to recover, Democrats pushing more spending will clash with Republicans eager to use tax cuts instead, such as suspending employers' payroll tax like Trump has proposed. “This will be World War 4,” he said. EMAIL}/redirect EMAIL}/redirect Clearly the size, contents and timing of the next bill are in play. And the Trump administration, lawmakers, lobbying and ideological groups are all pushing ideas. Discussions within the White House have been limited. Trump has publicly suggested he'd support extra money for state and local governments and for some type of hazard pay for front-line medical workers. Former Vice President Joe Biden, Trump's likely Democratic presidential opponent, has said he wants additional direct payments to people beyond the one-time $1,200 amounts many adults will get. He also wants increased Social Security benefits and some student loan forgiveness. Pelosi's proposals include easing limits on federal deductions for state and local taxes, a curb the GOP-controlled Congress enacted in 2017 that's hit high-income, Democratic-leaning states the hardest. Her suggestion has run into opposition from both parties. House Energy and Commerce Committee Chairman Frank Pallone, D-N.J., said he'd like to create a federal office for overseeing national supply chains disrupted by the crisis. Rep. Robert Scott, D-Va., who chairs the Education and Labor Committee, said he'd like to expand safety regulations to cover airborne pathogens like the coronavirus and to cover essential workers like grocery store employees. Others suggesting ideas include Sen. Lisa Murkowski, R-Alaska, who said she'd like to address the strains the virus and the resulting confinement of people at home are putting on mental health. “We see domestic violence. We see substance abuse,” she told reporters. “We see levels of addiction that we wish were not present with us. And so it's something that I don't think we have fully factored yet.” Kevin Kuhlman, chief lobbyist for the National Federation of Independent Business, the nation's largest small business trade group, said his group is monitoring how the new bill's $350 billion in small business loans is being administered. For the next measure, he said his group is watching whether additional money is needed and if changes are needed in how the money is distributed. Michael Strain, director of economic studies at the conservative American Enterprise Institute, said the next bill could be used to revisit the $2.2 trillion measure if some programs have problems. He said there could be a need for spending another $500 billion or more, or for significantly less support. “There are all kinds of questions about what the world will look like in June,” Strain said. ___ Associated Press writer Zeke Miller contributed to this report. EMAIL}/redirect EMAIL}/redirect To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below: [SIGN ME UP NOW]( © 2019 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of this website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information included on this website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that owners, employees and writers of and for PTE, LLC may have long or short positions in securities that may be discussed on this website or newsletter. Past results are not indicative of future profits. This table is accurate, though not every trade is represented. Profits and losses reported are simulated figures from virtual simulated portfolios. We are engaged in the business of advertising and promoting companies for monetary compensation. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. PTE.la’s sponsored advertisements do not purport to provide an analysis of any company’s financial position, operations or prospects and this is not to be construed as are commendation by PTE.la or an offer or solicitation to buy or sell any security. Neither the owner of PTE.la nor any of its members, officers, directors, contractors or employees is licensed broker-dealers, account representatives, market makers, investment bankers, investment advisors, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewer’s entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company’s filings with the Securities and Exchange Commission. However, acompany’s past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (“SEC”) website www.sec.gov and the Financial Industry Regulatory Authority (“FINRA”) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website. PTE Team 9 Downing street Newark NJ 07105 USA [Unsubscribe]( | [Change Subscriber Options](