Republican lawmakers are supporting moves to inject as much as $1 trillion into the economy in an effort to battle the financial impact of the coronavirus.
Politico reported that the measures are aimed at saving industries and millions of jobs. The GOP lawmakers also are talking about giving out $1,000 to individual Americans.
The administration on Tuesday pursued the stimulus package to fight the expected economic hit in the U.S. The package would include $50 billion for hard-hit airlines facing bankruptcy and $250 billion for small business loans
Support for the economic package by Republicans comes despite the fact the last major bailout in 2008 helped launch the tea party movement, according to Politico.
But the GOP lawmakers maintain the coronavirus outbreak makes this a completely different situation.
"This is not like the financial meltdown, where you had banks that made bad decisions and asked the government to bail them out," said Sen. Marco Rubio R-Fla.
"We are basically telling people not to go out, not to spend money at these stores, and in some jurisdictions, not go to work. ... It's an unprecedented challenge.”
And Rep. Pete King, R-N.Y. said he likely will support whatever President Donald Trump and GOP leadership come up with, according to Politico.
“In ordinary times, some would have those concerns,” about the cost and the deficit, King said. But “in times of crisis, you can’t let the perfect be the enemy of the good.”
Senate Majority Leader Mitch McConnell added: “These are not ordinary times. This is not an ordinary situation. So it requires extraordinary measures.”
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.
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