President Joe Biden touts bigger is better approach to stimulus plan
CNBC's Kayla Tausche reports on President Joe Biden's latest comments regarding his coronavirus relief policy proposal. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
The House aims to pass a coronavirus relief bill within two weeks, as Democrats push ahead with the process that enables them to approve a rescue package with no Republican votes, House Speaker Nancy Pelosi said Friday.
The Senate passed a budget resolution early Friday after a marathon of votes on dozens of amendments. The House will follow in the afternoon, starting the reconciliation process that would allow President Joe Biden’s $1.9 trillion rescue package to get through the Democratic-held Senate with a simple majority.
“On Monday we will begin working on the specifics of the bill,” Pelosi told reporters after meeting with Biden and Democratic House committee chairs at the White House. House Majority Whip James Clyburn, D-S.C., said it will have the votes to pass despite some concerns within the party about its cost.
Democrats passed the budget resolution 51-50 in the evenly split Senate, as Vice President Kamala Harris had to cast her first tiebreaking vote. The party line vote after about 15 hours of considering politically thorny amendments underscores the divide in Congress on how to structure the next aid package.
“I am so thankful that our caucus stayed together in unity,” Senate Majority Leader Chuck Schumer, D-N.Y., said after the vote. “We had no choice given the problems facing America and the desire to move forward. And we have moved forward.”
He contended “this was a bipartisan activity” because the chamber adopted several amendments written by senators from both parties.
While President Joe Biden has said he hopes to win Republican support for the aid plan, Democrats have started to set up the framework to pass the proposal as soon as possible without GOP support. Without using reconciliation, Democrats would have to win 10 Republicans over in a Senate split 50-50.
Speaking after new data showed the U.S. gained only 49,000 jobs in January, Biden said he wants to work with Republicans, but the party is “just not willing to go as far as I think we have to go.” He said he faces an “easy choice” between passing a bill now with only Democrats or getting “bogged down in a lengthy negotiation.”
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n...
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
https://www.cnbc.com/select/best-cred...
#CNBC
#CNBCTV
