COVID-19 Legislative Update: Senate COVID III Bill Fails to Reach 60 Votes >>

March 22nd, 2020

Senate COVID III Bill Fails to Reach 60 Votes

The Senate failed to clear a key procedural hurdle on a $1.6 trillion emergency rescue package (Corona III) to address the ongoing crisis after enough Democrats denied the GOP the 60 votes needed to move forward. The vote’s imminent failure puts renewed pressure on Republicans and Democrats to come to a deal before Monday morning, for fear that congressional gridlock will further tank financial markets. Among the sticking points remaining are provisions for corporations getting federal assistance, including policy on stock buybacks and executive pay, and protections for individuals facing eviction. Democrats specifically cited that the bill doesn’t do enough to protect workers from layoffs, gives the Treasury too much power to make its own decisions, and doesn’t provide any money for state and local governments, among other complaints.

Senate Leader Mitch McConnell (R-KY) will now have to go back to the negotiating table with Democratic leaders and the White House to reach a deal that can win enough Democratic votes to pass.

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