Congress Weighs More Coronavirus Stimulus

National

Senators push Trump administration to speed up distribution of available relief funds; Democrats argue more money is needed for workers.

(NBC News)  Treasury Secretary Steve Mnuchin defended the Trump administration’s handling of the economy Tuesday during testimony before the Senate Banking Committee.

The hearing came as Democrats and Republicans are increasingly divided on what to comes next for the ailing economy.

Democrats accuse the Trump administration of pushing states to end coronavirus lockdowns and business closings too early. 

Senator Elizabeth Warren accused Mnuchin of “boosting up Wall Street buddies and leaving Americans behind.” 

“How many workers should give their lives to increase the GDP or the Dow Jones by a thousand points?” Ohio’s Senator Sherrod Brown asked Mnuchin.
 
Secretary Mnuchin pushed back, saying “No worker should give their lives to do that, Mr. Senator and I think your characterization is unfair.”
 
The house last week passed a fourth economic aid bill calling for three trillion dollars in new relief spending.  Senate Republicans say it’s a non-starter, while 
Federal Reserve Chairman Jerome Powell has been clear in his belief more spending could help prevent the recession from getting worse.

“These are long-term problems. For now, this very much falls on us to do what we can to support the economy,” Mr. Powell testified.

More: https://nbcnews.to/2WIMchU

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