Senate Fails to Pass "Targeted" Covid-19 Relief Bill

What Happened:

• The Republican led "Targeted" Covid-19 Relief Bill of about $300 Billion failed to garner enough votes on Thursday to even be considered for legislation.

• At least 60 votes would be needed to consider the legislation and the final vote was 52-47. The vote was split largely along party lines except for Sen. Rand Paul (R) of Kentucky who voted "no" together with the Democrats.

• The vote outcome is no surprise and was expected by both parties.

• Senate Democratic Leader Chuck Schumer and House Speaker Nancy Pelosi on Tuesday criticized the Republican proposal calling it an "emaciated bill" that doesn't come close to addressing the needs of the American people. They also implied that this vote is purely for political reasons to try and help vulnerable Republican senators look good before their November elections.

• Negotiations for a second Coronavirus stimulus package continue to be at a standstill with both sides unwilling to budge. Democrats are seeking a relief package of around $2.5 Trillion, while Republicans are looking to pass a much narrower stimulus package in the range of $1 Trillion. These negotiations have been ongoing for several months and it is looking more and more unlikely that a second relief bill will be passed before the November election.

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