House Democrats Raring To Go On Another Stimulus Package, But Republicans Want To Pump The Brakes

The Wall Street Journal: Democrats Push To Address Infrastructure In Fourth Coronavirus Stimulus Package
House Democratic leaders said they would push for a five-year $760 billion infrastructure plan that they unveiled earlier this year to be part of the next coronavirus stimulus package, saying that a broad plan would provide jobs and spur economic activity. That figure is in line with President Trump’s $2 trillion plan for a 10-year infrastructure bill, Democrats said, because they also want to give more funding to public housing and schools. President Trump hasn’t released a written infrastructure plan, though he has consistently called for widespread funding to rebuild the nation’s highways and airports. He reiterated that call on Wednesday at his daily press conference. (Andrews, 4/1)

The Washington Post: Pelosi Should ‘Stand Down’ On Passing Another Rescue Bill In House, McConnell Says
One week after the Senate unanimously passed a $2 trillion emergency relief bill aimed at limiting the financial trauma from the coronavirus pandemic, Senate Majority Leader Mitch McConnell (R-Ky.) said he would move slowly on considering any follow-up legislation and would ignore the latest efforts by House Speaker Nancy Pelosi (D-Calif.) to jump-start talks. (Costa, 4/1)

Politico: Republicans Reject Pelosi's Rapid Push For Next Rescue Package
At a minimum, senior GOP lawmakers argued, Congress should see how the $2 trillion bill passed last week affects the economy and health care system. Senate Majority Leader Mitch McConnell put it this way Wednesday: “We may need a Phase Four, but we're not even fully into Phase Three yet.” “It’s fine to start talking about it, but it’s not going to be effective until we have the health care crisis under control,” Sen. Rob Portman (R-Ohio) said in an interview. “The immediate need is dealing with the corona crisis because if that’s not dealt with, the economic free fall will continue.” (Everett, Levine and Ferris, 4/1)

Politico: Wall Street Titans Lobby For A Cut Of Small Business Bailout
Some of the richest firms in the business world — private equity companies and venture capitalists — are lobbying for their piece of the coronavirus bailout. Groups representing the firms are urging the Trump administration to let businesses that they own apply for $350 billion in small business loans that Congress unleashed last week. (Warmbrodt, 4/1)

Reuters: Exclusive: Top U.S. Banks May Shun Small-Business Rescue Plan On Liability Worries - Sources
Top U.S. banks have threatened to give the federal government’s small-business rescue program a miss on concerns about taking on too much financial and legal risk, five people with direct knowledge of industry discussions told Reuters. (Schroeder and Henry, 4/1)

The Washington Post: Social Security Recipients Who Don’t Usually File Tax Returns Will Automatically Get $1,200 Payments, Treasury Says
The Treasury announced late Wednesday that Social Security beneficiaries who typically do not file a tax return will automatically get the $1,200 payment. The announcement is a reversal from earlier in the week when the Internal Revenue Service said everyone would need to file some sort of tax return in order to qualify for the payments. Democrats and some Republicans criticized the IRS for requiring so many extra hurdles for this vulnerable population to get aid when the government already has their information on file. (Long, 4/1)

The Wall Street Journal: Social Security Recipients Won’t Need To File Tax Returns For Coronavirus Stimulus Payment
Congress wrote the law in a way that encouraged agencies to share information so that low-income seniors could get payments quickly and seamlessly. But the Internal Revenue Service had said this week retirees would need to file a simple tax return. “Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account,” Treasury Secretary Steven Mnuchin said in a statement. (Rubin, 4/1)

In other news on lawmakers —

The New York Times: Loeffler’s Wealth Becomes A Risk As Rivals Charge She Profited On The Coronavirus
When Georgia’s governor picked Kelly Loeffler, a little-known Atlanta businesswoman, to fill the state’s vacant Senate seat late last year, her vast personal wealth and ability to fund her own campaign were top selling points for Republicans. ... Now, amid an economic crisis brought on by the coronavirus pandemic, Ms. Loeffler’s wealth is threatening to become a major political liability. She is facing questions about whether, in actively trading millions of dollars in stocks over the past couple of months, she and her husband have profited off the crisis based on information she received through her position as a senator. (Fandos, 4/1)

The New York Times: Devin Nunes Says Decision To Cancel School In California Was ‘Overkill’
The top Republican on the House Intelligence Committee this week criticized closing schools in his home state, California, as “way overkill” — even as President Trump came to a reckoning over the number of people who could die during the coronavirus pandemic. The lawmaker, Representative Devin G. Nunes, played down the gravity of the outbreak during a Tuesday night appearance on Fox News. “Look, the schools were just canceled out here in California, which is way overkill,” Mr. Nunes said. “It’s possible kids could have went back to school in two weeks to four weeks, but they just canceled the rest of the schools.” (Vigdor, 4/1)