Senate Democrats blocked a $2 trillion coronavirus rescue bill on Monday, as parties split on who should receive the money, at 49-46. 60 vote threshold is need to advance the legislation for a final debate on the Senate.

Democrats argued that the bill does not help families and health care providers enough, while Republicans argued that the bill offers financial assistance to the entire economy and should be passed before more people lose jobs.

Democrats are especially concerned that $500 billion fund would be for businesses, states and cities with wide latitudes to spend, would focus on the big corporations and Wall Street over actual health care.

Republicans argued that Democrats are focusing only on special interest and organized labor.

As Dow Jones has lost 10,000 points in six weeks, with several million Americans without jobs, and it seems that the Senate is caught arguing about who should get what, yet again.

Current plan is for $500 billion loan program with $425 billion for companies, states and cities, $50 billion for passenger airline companies, $8 billion for cargo air companies, and $17 billion for firms deemed important for national security, with $350 billion for small businesses.

When or if the stimulus plan will actually pass, is a question that Congress cannot yet answer, and one, impacting the lives of many Americans.

코리일보/COREEDAILY

Coree ILBO copyright © 2013-2020. All rights reserved.

This material may not be published, broadcast, rewritten or redistributed in whole or part with out the express written permission.