$2 trillion coronavirus spending plan stalls for 2nd time


For the second day in a row, Senate Democrats have blocked action on Republicans' $2 trillion coronavirus spending bill, according to The Washington Post.

On March 22, Democrats blocked the first attempt to advance the spending plan, arguing it doesn't provide enough support for workers or state and local governments and gives too much discretion to the Treasury Department, according to Bloomberg. On March 23, Senate Republicans once again fell short of the 60-vote threshold needed to advance the legislation to a final debate, according to The Washington Post.

"This has got to stop and today is the day it has to stop," said Senate Majority Leader Mitch McConnell, R-Ky., according to The Washington Post. "The country is out of time."

Senate Minority Leader Charles E. Schumer, D-N.Y., said he hopes to reach a deal and is negotiating in good faith with Treasury Secretary Steven Mnuchin.

"We have an obligation to get the details right, get them done quickly," Mr. Schumer said, according to The Washington Post. "That doesn't mean blindly accepting a Republican-only bill."

Stocks moved lower March 23 after the Senate failed to advance the stimulus package. The Dow Jones Industrial Average dropped  3 percent, or nearly 600 points, and the S&P 500 was down 2.9 percent, according to Forbes.

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