AGL 38.00 No Change ▼ 0.00 (0%)
AIRLINK 213.91 Increased By ▲ 3.53 (1.68%)
BOP 9.42 Decreased By ▼ -0.06 (-0.63%)
CNERGY 6.29 Decreased By ▼ -0.19 (-2.93%)
DCL 8.77 Decreased By ▼ -0.19 (-2.12%)
DFML 42.21 Increased By ▲ 3.84 (10.01%)
DGKC 94.12 Decreased By ▼ -2.80 (-2.89%)
FCCL 35.19 Decreased By ▼ -1.21 (-3.32%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 16.39 Increased By ▲ 1.44 (9.63%)
HUBC 126.90 Decreased By ▼ -3.79 (-2.9%)
HUMNL 13.37 Increased By ▲ 0.08 (0.6%)
KEL 5.31 Decreased By ▼ -0.19 (-3.45%)
KOSM 6.94 Increased By ▲ 0.01 (0.14%)
MLCF 42.98 Decreased By ▼ -1.80 (-4.02%)
NBP 58.85 Decreased By ▼ -0.22 (-0.37%)
OGDC 219.42 Decreased By ▼ -10.71 (-4.65%)
PAEL 39.16 Decreased By ▼ -0.13 (-0.33%)
PIBTL 8.18 Decreased By ▼ -0.13 (-1.56%)
PPL 191.66 Decreased By ▼ -8.69 (-4.34%)
PRL 37.92 Decreased By ▼ -0.96 (-2.47%)
PTC 26.34 Decreased By ▼ -0.54 (-2.01%)
SEARL 104.00 Increased By ▲ 0.37 (0.36%)
TELE 8.39 Decreased By ▼ -0.06 (-0.71%)
TOMCL 34.75 Decreased By ▼ -0.50 (-1.42%)
TPLP 12.88 Decreased By ▼ -0.64 (-4.73%)
TREET 25.34 Increased By ▲ 0.33 (1.32%)
TRG 70.45 Increased By ▲ 6.33 (9.87%)
UNITY 33.39 Decreased By ▼ -1.13 (-3.27%)
WTL 1.72 Decreased By ▼ -0.06 (-3.37%)
BR100 11,881 Decreased By -216 (-1.79%)
BR30 36,807 Decreased By -908.3 (-2.41%)
KSE100 110,423 Decreased By -1991.5 (-1.77%)
KSE30 34,778 Decreased By -730.1 (-2.06%)

WASHINGTON: Republicans on Thursday blocked an effort to amend the hard-won pandemic relief package to more than triple direct payments to struggling Americans, something demanded by President Donald Trump.

After months of partisan bickering, legislators late Monday finally approved a $900 billion stimulus package to help families and businesses struggling to survive the hit to the economy from the coronavirus before millions lose their benefits.

The legislation includes one-time payments of $600 to most taxpayers, but Trump dropped a bombshell on the celebrations this week, hinting he might veto the bill unless the amount was increased to $2,000.

Democrats, who have been pushing for months to increase pandemic support, cheered his statement, and House Speaker Nancy Pelosi challenged Republicans to support an amendment to boost the dollar amount.

The Democrat-controlled House of Representatives held a Christmas Eve “pro forma” session, normally a brief affair with little business, in an effort to win bipartisan approval to send the revised payments to Trump’s desk for signature.

But Republicans refused to agree to the change. “So we do not have unanimous consent,” said Michigan Democrat Debbie Dingell, who was acting as speaker pro tempore.

Pelosi immediately lambasted Republicans and vowed to call the House back on Monday to approve the amendment in a regular session.

“Today, on Christmas Eve morning, House Republicans cruelly deprived the American people of the $2,000 that the President agreed to support. If the President is serious about the $2,000 direct payments, he must call on House Republicans to end their obstruction,” she said in a statement.

“House and Senate Democrats have repeatedly fought for bigger checks for the American people, which House and Senate Republicans have repeatedly rejected.”

The stakes are high, especially if Trump vetoes the bill: About 14 million jobless workers will lose their pandemic unemployment benefits right after Christmas, and millions more face losing their home when an eviction moratorium expires at the end of the year.

And the stimulus measure is wrapped up with a $1.4 trillion funding bill, meaning the government will be forced to shut down at midnight Monday if Trump does not sign the bill.

The chaos comes in the final weeks of Trump’s presidency, as he continues to insist without evidence that the election of President-elect Joe Biden was fraudulent, attacking Republicans who refuse to back his false claims.

It is highly unusual for a president to veto legislation that enjoys overwhelming bipartisan support, but Trump has never shied away from flaunting tradition.

Late Wednesday he also vetoed the bill that funds defense operations, even as lawmakers vow to return Monday to override his action and approve the measure.

They could do the same with the pandemic stimulus bill, but Trump could simply sit on it, meaning it cannot take effect.

That would kick it to the new Congress that takes office January 3 to vote on the package again, but not before the economy suffers even more damage. Recent data have shown worrying signs that the world’s largest economy is faltering after the sharp rebound in the third quarter fueled by the $2.2 trillion CARES Act that Congress approved in late March, just as the pandemic restrictions were taking hold.

Job losses have continued and new claims for unemployment insurance have increased in four of the past six weeks, while consumer spending has slowed as confidence wanes amid the spike in Covid-19 infections. “We hope spending will stabilize in January and then begin to creep higher in February, but the current picture is quite bleak,” said Ian Shepherdson of Pantheon Macroeconomics.—AFP

Comments

Comments are closed.