Beautiful Virgin Islands

Thursday, Jul 10, 2025

US: Democrats say package helps bosses, not workers

US: Democrats say package helps bosses, not workers

Democrats on Monday again blocked a nearly US$2 trillion rescue package for the teetering US economy, highlighting a bitter partisan battle over how to best protect struggling Americans and crippled businesses from the ravages of coronavirus.
With the deadly pandemic spreading rapidly and forcing entire states including New York and California into lockdown, Capitol Hill was under immense pressure to pass legislation that injects a historic amount of federal funding to prevent a devastating economic collapse.

Democrats balked, arguing the current Republican-led legislation prioritizes big corporations over protecting workers.

They say it also falls woefully short in helping shore up the critically under-equipped health care system and help hospitals receive vital emergency medical supplies like masks and gowns, intensive care beds and ventilators.

Despite intense negotiations between Republicans, Democrats and President Trump's administration, the roll call was 49-46, far short of the 60 votes needed to advance.

Five senators, all Republicans, did not vote because they are in self-imposed quarantine. One of them, Rand Paul, tested positive for coronavirus on Sunday.

The chamber's top Democrat, Senator Chuck Schumer, insisted the negotiations were continuing, including with Treasury Secretary Steven Mnuchin, and the two sides were inching towards a viable compromise.

"We're very close to reaching a deal. Very close. And our goal is to reach a deal today," Schumer told the chamber.

"We are hopeful, even confident, that we will meet that goal."

Those remarks however came before the vote, and the Senate's Republican leader, Mitch McConnell, vented his fury afterwards at Democrats for their "absolutely mindless obstruction" while Americans are waiting for Congress to act.

Minutes earlier McConnell was seething at Democrats for what he called "fiddling" about specifics of what ultimately may be the largest emergency rescue package ever passed by the US Congress.

And he warned that without rapid agreement, the Senate may take until the end of the week to pass a rescue package.

"The markets are tanking once again... because this body can't get its act together," he said.

Wall Street went further into the red after the vote, with the Dow closing 3 percent lower, down almost 600 points.

As the crisis deepened, House Speaker Nancy Pelosi, the top Democrat in Congress, said her caucus would unveil its own plan later on Monday, potentially complicating matters further.

The Republican bill "put corporations first, not workers and families," Pelosi said as she unveiled highlights of a Democratic plan, including strengthened unemployment insurance, "desperately needed funds" for hospitals and opposition to stock buybacks.

Democrats say McConnell's plan would pump hundreds of billions of dollars into US corporations with insufficient oversight, and no requirement that the companies keep their workers on payroll.

"They proposed a US$500 billion slush fund for corporations with almost no conditions," former vice president Joe Biden, the all-but-certain Democratic presidential nominee, said Monday in webcast remarks.

Democrats have also warned that the bill as proposed does not bar corporations from using the taxpayer funds to buy back stocks or increase executives' pay, something some Republicans, including Trump, publicly oppose.

Meanwhile the Federal Reserve launched an unprecedented effort on Monday to flood the US economy with money -- Mnuchin said the measures would provide US$4 trillion in needed liquidity -- amid the chaos caused by the coronavirus pandemic.

Some forecasters project a 14 percent contraction in the April-June quarter while the global economy could shrink 1.5 percent this year.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
×