It is eerily quiet today on Capitol Hill. With each passing day there are fewer and fewer reporters and staffers present. Press galleries that typically are overflowing with reporters by 10 am are almost vacant. I’d say only 5% to 10% of the normal number of reporters are here.
Senate Republicans and the administration are busy crafting the “phase three” coronavirus bill. While phases one and two focused primarily (though not exclusively) on health care matters, the third bill will focus on economic stimulus. What that will look like is tough to say. Senate Republicans are taking the lead on this one, as opposed to phase two, which House Dems and Treasury Secretary Steve Mnuchin crafted. Senate Majority Leader Mitch McConnell (R-KY) has shut out Democrats during this process, saying that is the most efficient way to get a bill done. That may end up biting him later, as Senate Minority Leader Chuck Schumer (D-NY) definitely has some ideas on what he wants included.
Log in to see the rest of this article and the discussion
Kiplinger Alerts is a subscription-based e-mail and online alert service that helps you make more profitable decisions for your business and investments. You get reliable intelligence and forecasts on more than a dozen factors that affect the economy and are critical to your business and financial success.