Investing.com investing.com 29 Dec, 2020 19:45 am

Senate GOP Blocks Attempt to Pass $2,000 Stimulus Checks By Bloomberg

Senate GOP Blocks Attempt to Pass $2,000 Stimulus Checks By Bloomberg
Senate GOP Blocks Attempt to Pass $2,000 Stimulus Checks

A motion by Senate Minority Leader Chuck Schumer to approve a stimulus checks bill that passed the House on Monday was blocked by Majority Leader Mitch McConnell.Despite the push by Trump, spending $464 billion on higher stimulus checks is not popular among Republicans who are increasingly focused on the burgeoning national debt.Wall St slips from record levels, path to $2,000 stimulus checks in focus p By Devik Jain and Supriya R (Reuters) - Wall Street's main indexes eased from record highs in volatile trading on Tuesday as investors worried the U.(Bloomberg) -- Senate Republicans on Tuesday blocked an attempt by Democrats to increase direct stimulus payments in the newly enacted Covid-19 relief bill from $600 to $2,000, bucking President Donald Trump who demanded the change.

Just before Schumer made his motion, McConnell said the Senate will address three of Trump’s complaints: the amount of the stimulus payments, as well as unrelated concerns about election fraud and a law that shields technology companies from liability for user content.Trump on Tuesday, in a series of tweets, again demanded that the stimulus payments should be scaled up by the Senate.

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