AltBrains | uselections
Looming battle over state & local bailouts
With the Presidential election still in a strange no-mans-land with presumptive Democratic nominee Joe Biden trapped in his basement and President Donald Trump dominating the airwaves with poorly received daily press conferences, the focus shifted to the Senate and the coming battle over extra funds for state and local governments. The National Governors Association has sent a letter to Congress estimating that state and local governments will need at least $500 billion in so-called stabilization funds. On Tuesday, Senate Majority Leader Mitch McConnell went out of his way to signal opposition by suggesting in a call to Fox News that Congress should consider making it possible for states to declare bankruptcy. McConnell also argued that strings should be attached to any stabilization funds to prevent them from being used to rescue state governments from overspending prior to the coronavirus.
Content type: news