House Republicans blocked Democrats’ attempt to meet President Donald Trump’s demand to pay most Americans $2,000 to help weather the coronavirus pandemic.
Republicans objected to the bill House Majority Leader Steny Hoyer sought to pass by unanimous consent Thursday to replace the $600 payments in the latest pandemic relief legislation with the $2,000 payments.
Both pieces of legislation have caused sweeping changes to retirement planning and wealth management.
Thomas D. Glascock, Esq., concentrates his legal practice in estate planning, business planning, exit strategy/succession and asset protection planning, and retirement planning. A member of the National Network of Estate Planning Attorneys, the National Association of Estate Planners, and the American, New York, and Nassau County Bar Associations, he is a frequent speaker at professionals events, has authored numerous professional articles, is designated as an Accredited Estate Planner by NAEP, and is admitted to practice law in New York, the District of Columbia and North Carolina.
With the world going through a recession, stakeholders and investors of client companies will lean on accounting firms more than ever to maintain trust and confidence in their companies.
“House and Senate Democrats have repeatedly fought for bigger checks for the American people, which House and Senate Republicans have repeatedly rejected — first, during our negotiations when they said that they would not go above $600 and now, with this act of callousness on the Floor,” House Speaker Nancy Pelosi said in a statement Thursday.
Democrats will try again with a roll call vote on a new bill Dec. 28, when the House also plans a vote to override Trump’s veto on the National Defense Authorization Act. Since current government spending runs out that day — and funds for the rest of the fiscal year are included in the virus relief bill Trump criticized and hasn’t signed -- the House could also pass another stopgap measure to avert a partial government shutdown.
Republicans on Thursday tried to seek unanimous consent on a measure to examine taxpayer money spent on foreign aid, but Democrats blocked that move. In his complaint Tuesday about Congress’s combined virus aid and government spending bill, Trump criticized federal resources spent on international programs, even though that spending was allocated as part of the bipartisan appropriations process.