General Discussion
In reply to the discussion: Looks like the Pugs inserted a poison pill in stimulus package and are planning to kill it... [View all]Demsrule86
(71,542 posts)Nancy said a provision by Sen. Pat Toomey, R-Pa., that would curb emergency Federal Reserve powers was the biggest hurdle to a sealing a deal. "That has to be resolved. And then everything will fall into place," Nancy said. "It's a very significant difference." Update on MSNBC now...Toomey still the issue McConnell stands behind it...this position holding up any deal.
Did find link...
"...Toomey's provision, a feature of GOP bills that failed to advance this fall would close down more than $400 billion in potential Fed lending powers established under a legislation in March. Treasury Secretary Steven Mnuchin is shutting down the programs at the end of December, but Toomey's language goes further, by barring the Fed from restarting the lending next year.
"As we navigate through an unprecedented economic crisis, it is in the interests of the American people to maintain the Fed's ability to respond quickly and forcefully," said Brian Deese, an economic adviser to Biden. "Undermining that authority could mean less lending to Main Street businesses, higher unemployment and greater economic pain across the nation...
https://abc7chicago.com/did-congress-pass-the-stimulus-bill-today-second-package-600-check-update-covid-relief/8894618/