Despite The High Stakes, Congress Unable To Shake Off Shackles Of Partisan Disputes
The emergency fund for small businesses ran out this week, but lawmakers haven't been able to reach an agreement on supplementing the relief money. The swift, bipartisan action seen on the $2.2 trillion stimulus package has become the exception instead of the rule even in the midst of staggering economic devastation. Meanwhile, as that cash is being dispersed, there's still little oversight on the spending, even though Democrats pushed hard for that concession.
Politico:
Snubs, Feuds And Phone Tag: Inside Congress' Coronavirus Breakdown
For Congress, the coronavirus pandemic changed everything — except the personality feuds that have defined the institution in the Trump era. Instead of congressional leaders and President Donald Trump rallying to take on a virus that’s crushing the economy and killing tens of thousands of Americans, the opposite has happened. The partisan sniping and long simmering squabbles among the White House and “Big Four” — Senate leaders Mitch McConnell and Chuck Schumer, Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy — are more prominent than ever. (Caygle, Everett and Zanona, 4/17)
The Associated Press:
New Pressure On Lawmakers As Virus Aid For Firms Hits Limit
Lawmakers are struggling to break a stalemate over President Donald Trump’s $250 billion emergency request for a small-business program, stoking uncertainty about when additional support will be available in a key rescue program now exhausted of funds. A Senate session quickly adjourned without any progress, though staff aides to House and Senate Democrats and Treasury Secretary Steven Mnuchin convened another conference call, on legislation to shore up the Paycheck Protection Program and demands by Democrats for potential additions. (Taylor, 4/17)
The New York Times:
Loan Money Runs Out While Small-Business Owners Wait In Line
The $349 billion government program meant to keep small businesses afloat during the pandemic and economic meltdown ran out of money on Thursday — even as many small-business owners were desperately trying to apply for loans. Now they are trying to figure out how to keep their businesses alive while Congress negotiates the possible release of additional rescue funds. The program, administered by the Small Business Administration through participating banks, was marred by technical glitches from the start, even as overwhelming demand and confusion about how it would all work slowed down the approval process. (Flitter, 4/16)
The Wall Street Journal:
Funding Exhausted For $350 Billion Small-Business Paycheck Protection Program
Lawmakers again fell short of an agreement on the next round of coronavirus emergency aid Thursday, as a $350 billion loan program for small businesses ran out of money and millions more Americans filed for employment benefits, bringing fresh urgency to the negotiations. Republicans want to approve $250 billion more for the small-business loans, meant to support worker paychecks, before moving on to other aid and stimulus proposals. Democrats want to make changes to the small-business program and include money for hospitals, state and local governments, and food assistance to recipients alongside it. (Duehren, 4/16)
The Associated Press:
As $2 Trillion Starts To Flow, Oversight Of Virus Cash Lags
Congress unleashed $2 trillion to deal with the coronavirus crisis. So far, only one person is working to oversee how it is spent. Bharat Ramamurti is starting out as a watchdog of one, the sole appointee to a five-member Congressional Oversight Commission. Sheltering at home with preschoolers, Ramamurti has been writing letters and taking to Twitter to try and jump-start his work, asking the Trump administration for “detailed and timely information” about coronavirus payments. But he’s eager for reinforcements. (Jalonick and Daly, 4/17)
The Wall Street Journal:
When The Stimulus Check In Your Bank Account Isn’t What You Expected
The U.S. government sent more than 80 million direct-deposited stimulus payments this week, and the amounts popping up in bank accounts are coming as a surprise to some Americans. Some are finding less than they expected. Others think they are getting too much. Some say money is going into bank accounts they don’t recognize. And still others are struggling to decipher error messages from an Internal Revenue Service website. (Rubin, 4/16)
Politico:
Economic Rescue Package To Boost Deficit By $1.8T, CBO Predicts
The colossal economic rescue package passed by Congress last month amid the pandemic will increase federal deficits by $1.8 trillion over a decade, although the overall bill provides more than $2 trillion in assistance, the Congressional Budget office estimated Thursday. The independent budget agency noted that some of the aid is in form of loan guarantees, which won’t have a net effect on the federal budget. The package includes a $988 billion increase in mandatory spending and a $326 billion increase in emergency discretionary spending. It decreases revenues by $446 billion. (Emma, 4/16)
The New York Times:
House Democrats Back Changing Rules To Allow Remote Voting During Pandemic
Speaker Nancy Pelosi on Thursday threw her support behind a plan to allow House members to cast votes by proxy, conceding for the first time that the coronavirus pandemic that has forced Congress into an extended recess would require historic modifications to how the institution has operated for centuries. The announcement was a stark shift for Ms. Pelosi, who as recently as last week dismissed the idea of remote voting, which would require a change to House rules. (Stolberg, 4/16)
