Topline
During their White House meeting on Monday, President Joe Biden told the 10 Republican senators advocating a considerably cheaper alternative to his $1.9 trillion stimulus plan that their proposal is far too small, according to Senate Majority Leader Chuck Schumer.
Key Facts
After a lunch meeting between Biden and the Senate Democratic caucus, Schumer told reporters that Biden said he wants a “big, bold package” and that the Republican plan is “way too small.”
Schumer also said he and his staff are in constant contact with Biden and the White House and that Biden is “totally on board” with using budget reconciliation, which would allow Democrats to pass their plan without GOP support.
The $600 billion GOP plan includes less than half the spending on direct cash payments and unemployment insurance as Biden’s plan, and it does not include the $350 billion for state and local governments or $120 billion for a child tax credit Biden has proposed.
After Biden’s meeting with the group of senators, led by Sen. Susan Collins (R-Maine), the White House put out a statement claiming Biden held firm, vowing to “not settle for a package that fails to meet the moment.”
But the White House has been careful not to give a precise minimum cost: asked about whether Biden has a “red line” on relief during a Tuesday briefing, White House Press Secretary Jen Psaki, a former Obama State Department spokesperson, replied, "Red line is an old term. We're not gonna use it again."
Forbes has reached out to the White House for comment.
Big Number
$160 billion. That’s what the GOP plan would spend on pandemic response – the same amount proposed by Biden. The plan also matches Biden’s $50 billion in small business relief and proposes half the $40 billion Biden wants for childcare.
Crucial Quote
“[Biden’s] view remains… The risk is not that it is too big, this package. The risk is that it is too small,” Psaki told reporters on Monday.
Surprising Fact
West Virginia Gov. Jim Justice, a Republican, shares Biden’s view. In a CNN appearance, Justice warned against being “fiscally responsible at this point in time,” asking, “If we actually throw away some money right now, so what?” Sen. Joe Manchin (D-W.Va.) is seen as the Democrat most likely to break with his party on relief based on a belief that stimulus should be “targeted” – though he voted to proceed with budget reconciliation.
Chief Critic
Sen. Pat Toomey (R-Pa.) a Trump opponent who has positioned himself as a fiscally conservative opponent of most stimulus spending, all but rejected both plans on Monday. In a statement, Toomey said the government should focus on vaccines and, "Once we’ve made significant progress on this goal, then Congress can revisit what pockets of the economy still require assistance.”
What To Watch For
Democrats on Tuesday passed a budget resolution, the first step towards passing the coronavirus relief plan through budget reconciliation. The resolution passed by a party-line vote, 50-49, with all Democratic senators voting for it and all Republicans voting against it – except Toomey, who was absent.
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