McConnell rules out passing House bill on $2K relief payments

Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments.

Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments.

The Kentucky Republican said the House legislation, approved in a bipartisan vote Monday, “has no realistic path” to quick passage in the Senate and that it falls short of the demands of President Donald Trump. He again blocked an attempt by Democratic leader Chuck Schumer to adopt the House bill to increase the payments to $2,000 from the $600 by unanimous consent.

CORONAVIRUS IMPACT: ADDITIONAL COVERAGE

Kristina Wallender is chief experience officer at Human Interest, a leading 401(k) account provider for small to medium-sized businesses. Her mission is to create a more empowered world by helping others take control of their financial future. Previously she has served as the head of marketing for RealtyShares, a real estate investment platform with $870 million invested, and Ticketfly, a live events platform serving more than 1,800 venues. Kristina received her MBA from the Stanford Graduate School of Business.

Ashish Masih, Encore Capital Group’s President and CEO

Ashish Masih is Encore Capital Group’s President and CEO.

Marcus Newman, RHU, CBC is vice president of employee benefits at GCG Financial, an Alera Group Company, a leading provider of exceptional employee benefits, risk management and wealth management solutions. To reach the author, please email Marcus.Newman@gcgfinancial.com or for more information visit www.gcgfinancial.com

The Senate instead will work on combining the stimulus payments with measures on election integrity and rolling back social media liability protections, he said. That responds to all three issues Trump has said he wants, but a bill combining them likely will alienate enough senators in both parties to leave prospects for bigger stimulus payments dead in the Senate.

mcconnell-mitch-senate-mask-lights.jpg
Senate Majority Leader Mitch McConnell, a Republican from Kentucky, center, wears a protective mask while walking through the U.S. Capitol in Washington, D.C.
Ting Shen/Bloomberg

“The Senate is not going to be bullied into rushing out more borrowed money into the hands of the Democrats’ rich friends who don’t need the help,” McConnell said. The House bill would raise the income cutoff to receive a payment.

The clash over the payments also is entangling another piece of year-end business in the Senate — a vote to override Trump’s veto of a crucial $740.5 billion defense policy bill. Senators Bernie Sanders and Ed Markey said they will continue to delay the defense legislation vote unless McConnell relents and allows a vote on a standalone bill on the bigger stimulus checks.

“We are saying to Mitch McConnell, to allow the United States Senate to do what it’s supposed to do, and that is the vote,” Sanders told reporters. “The House passed the bill, it’s over here right now. Do you want to vote against it? Then vote against it.”

Pennsylvania Republican Senator Pat Toomey later blocked an attempt by Sanders to call up the House bill for a roll call vote.