COVID-19 Legislative Update - 3-24-2020

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Policy Resolution Group COVID-19 Legislative Update March 24, 2020 The Red Zone

Tuesday looks to be a make or break day for the current iterations of a Phase Three deal. Right now all signs indicate the Senate will move swiftly and the House follow suit. However, at the time of this update, a few points remain under negotiation and the text of any legislation needs to be finalized. • Signs of a Deal. o Schumer. Following the sixth meeting with Treasury Secretary Steven Mnuchin at midnight, Senator Chuck Schumer (D-NY) said “we expect to have an agreement tomorrow morning. There are still a few little differences. Neither of us think they are in any way going to get in the way of a final agreement.” o Mnuchin. Mnuchin similarly expressed optimism, saying on Monday night, “I think we've made a lot of progress…There's still a couple of open issues, but I think we're very hopeful that this can be closed out" in the next day.” o Pelosi. This morning House Speaker Nancy Pelosi (D-CA) signaled satisfaction with the direction of the package saying , “we think the bill has moved sufficiently to the side of workers.” The Speaker took credit for securing oversight on the “$500 billion slush fund,” asserting that the Senate adopted language from her bill.  This is Pelosi signaling surrender, but with a triumphant flourish. o Trump. President Donald Trump this morning added urgency to negotiations by tweeting , “Congress must approve the deal, without all of the nonsense, today. The longer it takes, the harder it will be to start up our economy. Our workers will be hurt!”  This is a notable reversal from a late night Trump tweet reacting to the House alternative Phase Three package. Progressive provisions in the Pelosi bill make for a useful foil, and their inevitable omission allows Trump and Republicans to claim victory. • McConnell Draws a Line. o Majority Leader Mitch McConnell (R-KY) gave a blistering speech on the floor of the Senate last night, saying that time is up and that Congress must pass the bill as soon as possible.

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