Overseeing Distribution Of Stimulus Trillions Might Be Easier Said Than Done For Democrats
Democrats are confronting the fact that it might be hard to oversee the $2.2 trillion stimulus spending when the physical act of congregating in the Capitol is dangerous. The Trump administration is also using the pandemic as a way to stop senior officials from having to report to Congress. Meanwhile, differences between Republicans and Democrats on the need for a fourth stimulus package signal rougher governing waters ahead.
Politico:
Congress Wrestles With New Coronavirus Role: $2 Trillion Watchdog
Lawmakers are already running into a litany of obstacles — from the logistical limitations of working remotely to President Donald Trump’s early resistance — that could undermine oversight of the biggest economic rescue package in U.S. history. And with the administration moving to get money out as fast as possible, it means lawmakers have even less time than usual to ramp up one of the most far-reaching oversight regimes they've ever undertaken, even as the public remains deeply skeptical. “In the wake of the financial crisis 10 years ago, there are going to be a lot of suspicions,” Rep. Katie Porter (D-Calif.) said in an interview. “Can we trust the Fed and the Treasury? We need, in Congress, to give them that reassurance.” (Cheney and Zanona, 4/1)
The Wall Street Journal:
Democrats Call On Mnuchin To Uphold Oversight Provisions In Coronavirus Stimulus
Days after President Trump signed a roughly $2 trillion economic rescue package, the White House and congressional Democrats are at odds over a key provision of the bill. The administration says it has the right to review reports by a newly created internal watchdog before they are sent to Congress. But Democratic senators, in a letter on Tuesday, said that isn’t what Treasury Secretary Steven Mnuchin agreed to when the bill was being negotiated. (Davidson, 3/31)
Politico:
McConnell And Pelosi Draw Coronavirus Battle Lines
Mitch McConnell and Nancy Pelosi are on another coronavirus collision course. As Speaker Pelosi prepares the House to pass sweeping “Phase 4” economic legislation this spring, Senate Majority Leader McConnell is throwing cold water on Democrats’ hopes to address the crisis by boosting infrastructure spending and social programs. (Everett, 3/31)
The Associated Press:
Early Divisions As Congress Weighs Next Help For Economy
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. (Fram, 4/1)
The Wall Street Journal:
Trump Calls For New $2 Trillion Infrastructure Bill
President Trump on Tuesday said a significant investment in infrastructure should be part of a fourth congressional coronavirus relief package, citing an opportunity in low interest rates. “With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill,” Mr. Trump wrote on Twitter. “It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country!” (Lucey and Duehren, 3/31)
NBC News:
Jockeying Begins In Congress Over The Next Coronavirus Relief Bill
The first three coronavirus relief bills passed Congress with relative ease — three massive bills in three weeks with overwhelming support.But the early jockeying over the focus of a potential fourth aid package is already beginning to show deep partisan fault lines, with House Speaker Nancy Pelosi outlining Democratic priorities and Senate Republicans pushing back. In an attempt to draw a stark contrast with House Democrats, Senate Republicans are focusing their criticism on proposed spending provisions similar to ideas like the Green New Deal that might end up in a new bill. (Caldwell, 3/31)
The Associated Press:
What You Need To Do To Get Your Government Stimulus Check
The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak. (Sell, 3/31)
Modern Healthcare:
Hospitals May Be Eligible For $500 Billion Fund With Executive Pay Limits
Large hospitals and health systems may be eligible for a $500 billion corporate COVID-19 relief fund, but the money comes with strings attached including limits on compensation for highly paid employees.Congress' more than $2 trillion economic stimulus package included several funding streams explicitly for healthcare providers including a $100 billion provider emergency fund, boosts to Medicare payments and expanding accelerated Medicare payments. But there's a chance that if those funding streams aren't enough, hospitals could qualify for a much larger corporate relief fund that has more strings attached. (Cohrs, 3/31)
Modern Healthcare:
Trump Administration Lays Out Guidelines For Small Business Loans
The Small Business Administration and Treasury Department Tuesday released guidelines for how small businesses, including some hospitals and physicians, can access $349 billion in loans to compensate for losses due to COVID-19. Hospitals and independent physicians have been squeezed by delaying elective procedures and non-urgent doctors' visits, struggling to obtain personal protective equipment, and preparing for a potential surge in seriously ill patients. (Cohrs, 3/31)
In other news from Capitol Hill —
The Wall Street Journal:
Senator Reports $1.4 Million In Stock Trades During Coronavirus Panic
Sen. Kelly Loeffler and her husband purchased and sold about $1.4 million in stocks in the past month amid the coronavirus market panic. They suffered losses but limited the investment damage through some timely trades, according to a summary provided by the Georgia Republican’s re-election campaign. Ms. Loeffler and her husband, Jeffrey Sprecher, who is chairman of the New York Stock Exchange, ended up with more paper losses on their stock purchases than they saved in dumping shares, according to a Wall Street Journal review of the senator’s financial disclosure. (Grimaldi, Wise and McGinty, 3/31)
