President Joe Biden on Tuesday denounced a Republican alternative to his $1.9 trillion COVID rescue plan as inadequate while Senate Democrats pushed ahead, voting to initiate a process that could approve his sweeping rescue package on their own if Republicans deny their support.
The president and Treasury Secretary Janet Yellen joined the Democrats for a private online meeting. Both declared the Republicans' $618 billion offer as too small. They urged massive, swift action to stem the global health crisis and economic fallout.
Third Stimulus Check
Biden called for quick action on Monday on the $1.9 trillion coronavirus stimulus bill and met with Senate Republicans at the White House. Meanwhile, Democratic leaders of the Senate and House took the initial steps toward passing the legislation on a party-line vote if it cannot garner GOP support.
Biden tweeted, "Hardworking Americans need help and they need it now," reported NJ.
Americans believe the president should prioritize maintaining the criteria for receiving the next stimulus check, similar to the previous payments over securing a bipartisan agreement on COVID-19 relief.
Biden met with a team of 10 Republican senators on Monday in an attempt to find a bipartisan way forward on further stimulus action.
The initial waves of stimulus checks transferred were based on taxpayers' 2018 or 2019 tax filing. They were an advanced payment for a tax reduction on income tax filings for the fiscal year of 2020.
Republicans were very upbeat after the two-hour meeting.
According to Sen. Susan Collins, "It was a very good exchange of views. I wouldn't say we came together on a package tonight. No one expected that in a two-hour meeting but what we did agree to do is follow up and talk further," reported Fox 8.
The majority of Americans received their second stimulus checks from the US Treasury back in early January, which was before then-President-Elect Biden revealed his $1.9 trillion American Rescue Plan, which involves a third stimulus payment.
Democrats voted on Tuesday to begin a process for approving Biden's bill on their own, and the goal is the passage by March.
According to Senate Majority Leader Chuck Schumer, "We are not going to dilute, dither or delay. The needs of the American people are just too great," reported Chicago Tribune.
The Republican plan proffers less money in terms of direct payments, and remarkably fewer Americans would be qualified to receive it -- it is being touted as a "targeted" plan.
The price tag on the president's plan is $1.9 trillion, while the GOP proposal is around one-third of that. There are several differences, but a key one the public will be interested in is that fewer Americans would receive direct payments under the Republican plan.
The new stimulus bill proposal introduced by 10 Republican senators on Sunday involves a "targeted" $1,000 stimulus check that would merely be transferred to people who earn $50,000 a year or less. It would also alter the stimulus check formula that would transmit a partial payment to fewer people in general.
Analysts remark the $1,400 payments could take months to arrive.
