No Name, Democrats, GOP far apart as virus aid talks intensify

[Image]( EMAIL}/redirect TUESDAY, JULY 28, 2020 | LISA MASCARO, AP CONGRESSIONAL CORRESPONDENT WASHINGTON (AP) — The differences over the next coronavirus aid package are vast: Democrats propose $3 trillion in relief and Republicans have a $1 trillion counteroffer. At stake are millions of Americans' jobless benefits, school reopenings and eviction protections. As top White House negotiators returned to Capitol Hill on Tuesday, the leverage is apparent. They are meeting in House Speaker Nancy Pelosi’s office. Republicans are so deeply divided over the prospect of big government spending that Senate Majority Leader Mitch McConnell is left with a weakened hand. Striking any agreement between Congress and President Donald Trump by Friday's deadline for expiring aid will be daunting. “We cannot afford to fail,” Senate Democratic leader Chuck Schumer said. The outcome will be a defining one for the president and the parties heading into the November election as an uneasy nation is watching and waiting for Washington to bring some end to the health crisis and devastating economic fallout. But McConnell acknowledged the limits with Republicans split: "We’ve done the best we can.” Key to the debate is the $600 weekly unemployment benefit bump that is expiring for millions of jobless Americans. Republicans want to slash it to $200 a week as an incentive to push people back to work. Democrats have shown flickers of willingness to curb the federal aid but are refusing to go that low. Defending cuts to unemployment assistance, Republicans said the federal supplement is too generous, on top of state benefits, and people should not be paid more while they are at home than they would if they were on the job. “The American people don't call that a controversy,," McConnell said. “They call that common sense.” Pelosi dismissed the GOP's approach as “wrong,” and Schumer responded by waving a copy of a New York newspaper on the Senate floor with the headline summing up the Republican attitude as “Let them eat cake.” EMAIL}/redirect EMAIL}/redirect With the virus death toll climbing and 4.2 million infections nationwide, both parties are eager for relief. There is some agreement that more money is needed for virus testing, to help schools prepare to open in the fall and to shore up small businesses. Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows arrived on Capitol Hill for a second day of talks with Pelosi and Schumer. They also heard an earful during a private GOP lunch. Half the Republican senators are expected to oppose any bill. Several senators vigorously questioned Mnuchin, Meadows and McConnell behind closed doors. They warned against caving to liberal demands and worried the price tag will balloon past $1 trillion, said Republicans who spoke on condition of anonymity to discuss the private lunch. “It’s a mess,” said Sen. Josh Hawley, R-Mo. “I don’t know what we’re trying to accomplish.” Republicans seek $16 billion for virus testing; Democrats want $75 billion. For school reopenings, Democrats want four times the $105 billion that Republicans propose. Democrats want to extend a federal eviction moratorium on millions of rental units that is expiring Friday, but Republicans are silent on evictions. EMAIL}/redirect EMAIL}/redirect McConnell insisted no bill will pass without a sweeping liability shield for doctors, businesses and schools reopening. Democrats want tougher federal workplace safety oversight. One major sticking point will be over funding for cash-strapped states and cities. Democrats proposed nearly $1 trillion for states and cities to avert municipal layoffs of government workers. Republicans gave no new money and prefer providing them with flexibility in previously approved aid. The two bills are widely seen as simply starting points in talks. Sen. Lindsey Graham, R-S.C., said McConnell would be lucky to get half the Republicans on board. “We’re in a war, OK, with the virus,” Graham said at the Capitol. “If you don’t think we need money for hospitals and doctors, you’re not looking at the same movie I’m looking at.” An area of common ground is agreement on a new round of $1,200 direct payments to Americans earning $75,000 or less. But Democrats also add a “heroes' pay" bonus for front-line workers, money for food stamps and other assistance. The Republicans come to the negotiating table hobbled by infighting and delays. Conservative Republicans quickly broke ranks, arguing the spending was too much and priorities misplaced. Sen. Rand Paul, R-Ky. scoffed earlier that McConnell's bill was sure to win support — from Democrats. Republicans were scrambling to justify providing $1.7 billion for a new FBI headquarters in Washington that's a top priority of the president but not of lawmakers or McConnell. Trump's hotel is across the street from it on Pennsylvania Avenue. Keeping the property in federal hands, rather than relocating the FBI to neighboring Maryland or Virginia as some propose, prevents competing hotels on the prime downtown corner. As bipartisan talks unfold, the White House has suggested a narrower relief package may be all that's possible. Democrats have dismissed that as too meager. And Sen. John Cornyn, R-Texas, said, "I haven’t heard any support for that.” The $600 weekly jobless benefits boost, approved as part of the March aid package, officially expires Friday, but because of the way states process unemployment payments, the cutoff has effectively begun. Under the GOP proposal, the jobless boost would be reduced to $200 a week through September and phased out to a new system that ensures no more than 70% of an employee’s previous pay. States could request an additional two months, if needed, to make the transition. Economists widely see signs of trouble in the economy as states revive stay-at-home orders. ___ Associated Press writer Andrew Taylor in Washington 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.la’s sponsored advertisements do not purport to provide an analysis of any company’s 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 viewer’s 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 company’s filings with the Securities and Exchange Commission. However, acompany’s 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 (“SEC”) website www.sec.gov and the Financial Industry Regulatory Authority (“FINRA”) 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](