[Image](
EMAIL}/redirect
FRIDAY, JULY 24, 2020 | LISA MASCARO, AP CONGRESSIONAL CORRESPONDENT
WASHINGTON (AP) â Negotiations over a new COVID-19 rescue bill were in flux Friday after the White House floated cutting an unemployment benefits boost to as little as $100 and President Donald Trump turned to a new priority, adding money to build a new FBI headquarters.
Senate Majority Leader Mitch McConnell sent senators home, promising a Republican proposal would be ready on Monday. Outraged Democrats warned that time was being wasted on GOP infighting as the virus worsens, jobless aid expires and the death toll rises.
âWe call upon Leader McConnell to get serious,â said House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer in a statement.
During a head-spinning week of start-and-stop efforts, McConnell abruptly halted the rollout of the Republicans' $1 trillion plan, which was supposed to provide a counter-offer to the Democrats' $3 trillion bill in an opening bid for negotiations. Trump was forced to abandon his push for a payroll tax break, which his party opposed, and the White House turned to new priorities.
As Republicans struggled, the nationâs infections topped 4 million, deaths rose by several thousand, to nearly 145,000, and the $600 unemployment benefit boost for millions of out-of-work Americans was on track to expire.
As McConnell shut down the Senate, he promised to return with âa strong, targeted piece of legislation aimed directly at the challenges we face right now.â
The GOP leader, who is up for reelection in November alongside Trump, dashed home to Kentucky for an event with the nationâs drug czar, Jim Carroll, in a part of Appalachia confronting opioid addiction and skyrocketing overdose deaths.
As for the COVID-19 crisis, McConnell said in Ashland, Kentucky, âThis has been one heck of a challenge for everybody in the country. Hopefully we can come together behind some package we can agree on in the next few weeks.â
EMAIL}/redirect
EMAIL}/redirect
One sticking point for Republicans trying to resolve their differences with the White House is how to cut the $600 weekly jobless benefit boost that is expiring.
Republicans largely believe the add-on, which had been approved in an earlier aid bill, is too much and becoming a disincentive for returning to work. In some situations, the boost gives the unemployed more money than if they were working. Under McConnell's plan, senators proposed cutting it to $200 and then transitioning over the next few months to a new system more closely linked to a stateâs own payment levels.
An administration official granted anonymity to discuss the private talks said the White House viewed the Senate GOP's proposal as too âcumbersomeâ and the $200 boost as too high.
A number of different solutions were being discussed, the official said Thursday, including dropping the add-on to $100.
Democrats warned time was running out. The benefit officially expires July 31, but due to the way states process unemployment payments, the cutoff is effectively Saturday.
Rep. Richie Neal, D-N.J., chairman of the House Ways & Means Committee, said the nation is on âthe eve of an economic catastrophe.â
The U.S. registered its 18th straight week of new jobless claims topping 1 million, with an unemployment rate at 11 percent, higher than during last decade's Great Recession. A new AP-NORC poll said half of Americans laid off now believe their jobs will not return.
âPeople need the sustenance of day-to-day life,â Neal said at the Capitol. He said the extra aid not only helps cash-strapped families, but is key to fueling the economy as Americans go without paychecks. âThe recovery is going to be slow,â he said.
EMAIL}/redirect
EMAIL}/redirect
The unemployment debate is only one of many issues dividing Republicans as they enter negotiations with Democrats over how best to respond to the prolonged coronavirus crisis and devastating economic fallout.
McConnell's emerging CARES Act II, named after the earlier effort, was expected to include a fresh round of direct $1,200 cash payments to many Americans, a repeat of the money sent in spring, along with $105 billion to help reopen schools, $25 billion for virus testing and McConnellâs top priority of a liability shield to protect businesses, hospitals and others against COVID-19 lawsuits.
Trump was pushing the payroll tax cut, but Senate Republicans didnât want to include it because they say it does little to help out-of-work Americans. It would also pull revenue away from the tax that funds Social Security and Medicare.
The president relented, but the White House also inserted new priorities â rethinking the jobless benefit and Trumpâs preference for a new building to replace the FBIâs aging J. Edgar Hoover Building in downtown Washington, across the street from the Trump hotel.
âThis is disarray,â Pelosi said Friday at the Capitol.
Next steps are uncertain after days of closed-door GOP negotiations at the Capitol with Treasury Secretary Steven Mnuchin, White House chief of staff Mark Meadows and others.
âWe had expected to be working throughout this weekend," the Democratic leaders said.
âIt is simply unacceptable that Republicans have had this entire time to reach consensus among themselves and continue to flail.â
___
Associated Press writer Bruce Schreiner in Kentucky contributed to this report.
EMAIL}/redirect
EMAIL}/redirect
To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below:
[SIGN ME UP NOW](
© 2020 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of this website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information included on this website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that owners, employees and writers of and for PTE, LLC may have long or short positions in securities that may be discussed on this website or newsletter. Past results are not indicative of future profits. This table is accurate, though not every trade is represented. Profits and losses reported are simulated figures from virtual simulated portfolios. We are engaged in the business of advertising and promoting companies for monetary compensation. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. PTE.laâs sponsored advertisements do not purport to provide an analysis of any companyâs financial position, operations or prospects and this is not to be construed as are commendation by PTE.la or an offer or solicitation to buy or sell any security. Neither the owner of PTE.la nor any of its members, officers, directors, contractors or employees is licensed broker-dealers, account representatives, market makers, investment bankers, investment advisors, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewerâs entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the companyâs filings with the Securities and Exchange Commission. However, acompanyâs past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (âSECâ) website www.sec.gov and the Financial Industry Regulatory Authority (âFINRAâ) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website.
PTE Team
9 Downing street
Newark NJ 07105
USA
[Unsubscribe]( | [Change Subscriber Options](