Congress has been working on a “stimulus” plan since last week. The House passed a bill almost immediately. Then it went to the senate. After much back and forth a vote was taken Sunday night – it failed.
Both sides have been finger pointing at why the plan is stalled. A re-vote, originally scheduled for 9:45 AM ET, shortly after the markets opened, has now been pushed back to Noon.
Early reports indicate the stock market is set to open down again.
Here are some morning headlines:
Reuters: A Fed ‘bailout’ for Main Street? Speed, collateral stand in the way
U.S. Federal Reserve and Trump administration officials over the last week have greased corporate and bank financial markets, freed up half a trillion dollars for central banks in other countries, and pledged to keep major industries such as the airlines afloat.
Fox News: Collins blasts Democrats for blocking coronavirus stimulus plan, says they’re ‘playing with fire’
Senate Democrats late Sunday blocked a GOP-backed $1.3 trillion coronavirus rescue package as five Republicans watched helplessly from self-quarantine, prompting U.S. stock futures to dive and sowing fresh doubt the parties can forge an agreement as the nation descends into economic disaster.
Politico: Senate fails to advance coronavirus stimulus package
The Senate on Sunday failed to clear a key procedural hurdle on a $1.6 trillion emergency rescue package, raising pressure on both parties to try again to reach a deal to address the economic devastation of the coronavirus outbreak.
NYPost: Proposed trillion-dollar coronavirus stimulus bill blocked by Senate Democrats
The trillion-dollar coronavirus stimulus package that would help offset the devastating economic effects of the virus hit a roadblock Sunday night as Democrats blocked a procedural vote on the measure.
The Hill: Senate Democrats block mammoth coronavirus stimulus package
Senate Democrats on Sunday blocked a coronavirus stimulus package from moving forward as talks on several key provisions remain stalled.
Washington Post: Senate falls far short of votes needed to advance coronavirus bill as clash between Republicans and Democrats intensifies
Senate Democrats blocked a massive coronavirus stimulus bill from moving forward Sunday as partisan disputes raged over the legislation that’s aimed at arresting the economy’s precipitous decline.
NBC News: Coronavirus stimulus bill fails to move forward; McConnell cites ‘obstruction’
A vote to advance the massive coronavirus stimulus bill failed on Sunday night in the Senate as negotiations had yet to produce a deal on the more than $1 trillion aid package. A second vote has now been scheduled for Monday at 9:45 a.m. ET. [Now Noon]
USA Today: Coronavirus: Why lawmakers can’t agree on an economic rescue package amid pandemic.
Congressional negotiations over a massive economic rescue package hit a snag on Sunday, as Republicans and Democrats sparred over how best to help laid-off workers and shuttered businesses reeling amid the coronavirus pandemic.
