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.
Scott Stolz, CFP, RICP, is the former president of Raymond James Insurance Group, where he leveraged his 35-plus years in the insurance and annuity business to manage the due diligence, product positioning, sales, and operational functions for annuities and life insurance distributed through Raymond James’ 8,200 financial advisors. He is also the author of "Solving the Annuity Mystery: Practical Advice for Every Advisor."
The Internal Revenue Service is giving taxpayers until the end of the year before it stops its temporary procedures for faxing in Forms 1045 and 1139 for claiming tentative tax refunds.
Drive-thru is almost synonymous with fast food, but for some quick-serve chains — like Subway — a past emphasis on in-store dining meant a much sharper pivot when the coronavirus pandemic struck.
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.
“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.