cancel
Showing results for 
Search instead for 
Did you mean: 
rickgthf
Senior Advisor

Looks like Toomey put the kibosh on the stimulus bill

Looks like Toomey, who's already announced that he's not running for re-election, has become  McConnell's designated hatch man.  He can kill the bill without any political consequences. He's objecting to provisions in the bill that would allow the Federal Reserve to continue to lend to state & local governments.  He claims that this would let the Democrats "politize" the Fed (as if the republicans didn't last year). 

The question is, what do the republicans have so much against fiscal relief from the economic fallout from the pandemic?  Fiscal relief for governments has been the senate republicans' sticking point for months now.  Why is it so important to strip out the last vestiges of any possible relief now?  It's not like local government borrowing adds to the Federal deficit & debt.

What we know, was that after the last recession in 2010, the failure to support the state & local governments contributed to the slow economic rebound.  The economists are all saying not to make the same mistake this time.

And it's not like there aren't just as many republican state & local governments who don't desperately need to access loans as democratic.

It looks to me that McConnell couldn't figure out any other way to kill the bill so he ordered Toomey to fall on his sword.

Either that or Toomey has something precious he wants for himself.