Senate Conservatives Will Back $2.3 Trillion Stimulus Package to Fight Virus

With its price tag now likely to be as high as $2.3 trillion, most Senate conservatives are nonetheless expected to support the pending stimulus that is on their desks Sunday evening.

With fallout from the coronavirus dealing a devastating blow to the economy, the Senate package is now almost sure to include $350 billion in the form of loans to small businesses and $500 billion in the form of cash payments to individual citizens.

“This is the biggest thing in the package and this is the hardest thing for me to support,” Sen. Jim Inhofe, R.-Okla. told Newsmax shortly before debate began on the measure.

By far one of the most conservative of the 53 Republican senators, Inhofe seemed to be speaking for most of his fellow lawmakers on the right in reluctantly agreeing to support a package that dwarfs Barack Obama’s American Recovery and Reinvestment Act (ARRA) of 2009 ($831 billion) to end the recession at the time.

The current package, in fact, is actually larger than the present size of the deficit ($1.6 trillion).

But, given the impact of the virus on small businesses and the stock market, few conservative lawmakers are likely to oppose the stimulus measure.

A week ago, an earlier stimulus package costing $500 billion sailed through the Senate by a vote of 90-to-8.

Although figures could change by the time of the final vote, it is expected that the bill will provide $1200 in cash for single Americans, $2400 for a husband-and-wife couple, and $500 for each child.

John Gizzi is chief political columnist and White House correspondent for Newsmax. For more of his reports, Go Here Now.

via newsmax

16 comments

  1. I think to much money is being thrown at the wuhan virus It is so much that I’m suspicious that much of the money will be diverted to elected officials families and pet projects. I also think government leftists and RINOS May see this as the opportunity to destroy the US Constitution and our God given rights.

  2. with a population of 360 million, how is it going to take 500 billion to give to every citizen, at a million each it would only take 360 million, somebody’s math is different than mine

  3. We have to keep in mind that this pandemic, like a major war, will eventually need to be paid for–there is no free lunch, especially if we go into full depression mode. Remember, prior to the Great Depression, the top marginal tax rate was reduced to 58% in 1922, to 25% in 1925 and finally to 24% in 1929, a pattern we have seen in Republican-led administrations. This left the U.S. totally depleted in revenue to take care of the basic needs of Americans when the Great Depression hit. That is why, in 1932 to counteract the Depression, the top marginal tax rate was increased to 63% and steadily increased during the entirety of the Depression, reaching 94% in 1944 (on income over $200,000, equivalent of $2,868,625 in 2018 dollars).[ https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_States ]

  4. I think they have too much control over us. We know how to be careful they don’t have to force us to. And so wrong to shut churches down.

    1. The left wants churches closed permanently. It’s coming sooner or later. My guess is things will get so bad there won’t be an election this year. The democrats are doing everything possible to ruin our country and we will be in such turmoil elections will be impossible.

  5. If the Pelosi/Schumer duo has snuck funds in for Planned Parenthood again, DO NOT VOTE YES. This has nothing to do with help for the citizens of the United States who are facing so much in these difficult times. Call them out!!

  6. “. . . by the time of the final vote.”

    IF there IS a vote. The news this afternoon had the demonrats going back out for more discussions with the White house, and refusing to negotiate with the Senate. They were fighting like cats and dogs. The demons want to include every pet project they’ve been waiting on, thinking they might blackmail the Republicans into agreeing, just to get it passed.
    The Republicans just want a ‘clean’ bill — simply dedicated to the crisis at hand.
    This is sure to supply all the potential Republican candidates with vile ammunition in the next election.

  7. This is totally insane. It’s time, actually way past time to start looking at and addressing the debt. The economy can’t be spurred by dumping a bunch of government on it. Anyone who has studied the Great Depression knows this. Write your Senators and tell the “NO”!

  8. The definition of Insanity: Lets pump up to $4 Trillion into the US Economy because we have 26,747 people confirmed to have the virus and 340 died!

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