McConnell Cautions Against Possible 4th Relief Bill – IOTW Report

McConnell Cautions Against Possible 4th Relief Bill

The Hill

Senate Majority Leader Mitch McConnell (R-Ky.) hit the brakes Tuesday on any speculation that Congress would quickly pass a “phase four” coronavirus bill, saying that lawmakers need to begin thinking about the country’s growing debt.

McConnell, speaking to reporters after the passage of a $484 billion “interim” bill, said more funding would not solve the “problem” sparked by the rapid spread of the coronavirus, which has cratered the economy.

“I think it’s also time to begin to think about the amount of debt we’re adding to our country and the future impact of that. … Until we can begin to open up the economy, we can’t spend enough money to solve the problem,” McConnell said. More

7 Comments on McConnell Cautions Against Possible 4th Relief Bill

  1. Notice how a lot of money is being used to delay layoffs until the end of September. Keep an eye on that month as you follow the money. What happens when the economy is in recession and companies are faced with an unmanageable level of debt come September? Mass layoffs are going to ensue. Right before the November election. Gee, how convenient. It’s no coincidence that democrats are going to continue pumping money for propping up zombie companies until that magical September 30th date.

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  2. Just have to imagine those tax cuts are going away and probably replaced with tax increases. If not by this administration then the next one. Have to pay for this mess somehow.

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  3. “tax cuts are going away and probably replaced with tax increases.”

    that might be what happens but by now we all know tax cuts generate more revenue than the taxes do

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