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| IN THE SENATE THIS MORNING | |
Teamwork makes the dream work. RIGHT, TEAM?!: |
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The Senate blocked two competing plans this morning for additional aid to small businesses amid the coronavirus outbreak. https://bit.ly/3c2Wrm8 What happened: Senate Majority Leader Mitch McConnell (R-Ky.) tried to pass a $250 billion in aid to small businesses. Democrats objected and tried to offer their own alternative with additional funding (for hospitals, food assistance, etc.). Republicans similarly rejected that plan. Ahh, partisan politics. Why approving this measure is especially tricky -- most senators are not in Washington: The Senate is trying to pass this measure by unanimous consent to avoid bringing senators back to Washington amid the pandemic. That means just one senator's objection will cause the bill to fail. So here we are. What happens next: The measure is in limbo until at least Monday when the Senate is back in session. Back story -- where the $250 billion Republican figure came from: "The Treasury Department sent Congress a formal request for an additional $250 billion on Tuesday, and McConnell quickly said he would try to pass it within days. But Democrats appeared blindsided by McConnell's decision to try to pass the funding on Tuesday." Livestream of the Senate this morning: https://cs.pn/2XnmHDN |
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| TIDBITS: |
| Reporters are wearing face masks: Here's a photo from the press conference this morning: https://bit.ly/2VtaY43 Tidbit -- anyone notice the hot mic?: "Did other [C-SPAN] viewers catch a great hot mic moment where someone ([Sen. Ben] Cardin [(D-Md.)]) was asking something about 'I gotta know to bring folks back here' and McConnell (?) can be heard saying 'I don't know' before [Sen. Roy] Blunt [R-Mo.] gaveled out?" (Via McClatchy DC's Emma Dumain) https://bit.ly/2RmrxNO 
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| It's Thursday. I'm Cate Martel with a quick recap of the morning and what's coming up. Send comments, story ideas and events for our radar to cmartel@thehill.com -- and follow along on Twitter @CateMartel and Facebook. Did someone forward this to you? Want your own copy? Sign up here to receive The Hill's 12:30 Report in your inbox daily: http://bit.ly/2kjMNnn |
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New data -- another 6.6 million Americans filed for unemployment: |
| Roughly 6.6 million Americans applied for unemployment benefits during the first week of April, according to data released by the Labor Department. https://bit.ly/3e7wMud For context: More than 10 million Americans filed for unemployment benefits during the last two weeks of March. |
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| Cases in the U.S.: 432,579 Deaths in the U.S.: 14,830 Useful charts on the numbers: https://nyti.ms/2VN1Vwg |
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Mnuchin's guess of when businesses could reopen: |
| This morning, Treasury Secretary Steven Mnuchin predicted that the U.S. could reopen the economy sometime in May. https://bit.ly/2xgqnwm When CNBC host Jim Cramer asked if he thought U.S. could reopen in May: "I do," Mnuchin responded. Mnuchin continued: "I think as soon as the president feels comfortable with the medical issues, we are making everything necessary that American companies and American workers can be open for business and that they have the liquidity to operate their business in the interim." |
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| LATEST WITH CORONAVIRUS RELIEF | |
Soooo, where are those emergency loans for businesses…?: |
| Via The Hill's Sylvan Lane, "lenders have already approved tens of billions in loans in less than a week and the Senate is set to approve another $250 billion in funding for the Paycheck Protection Program (PPP) on Thursday." https://bit.ly/2Xmvu8J Yeah, but: "Even so, financial firms are facing a slew of obstacles as they handle the onslaught, driven by inconsistent federal guidance, an uncoordinated and abrupt beginning, disputes within the industry and backlash from government officials." |
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| FIVE PROBLEMS BANKS ARE FACING IN DELIVERING ON LOANS: |
- Unprecedented demand
- Old technology
- Late and incomplete guidelines
- Concerns over legal liability
- Political headwinds
Explanations for each: https://bit.ly/2Xmvu8J |
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The double whammy of losing your job during the outbreak -- also losing health care: |
| Via The Hill's Jessie Hellmann, the millions of Americans who lost their jobs in the last few weeks also lost employer-sponsored health care coverage. https://bit.ly/3aXAJQh What now: "While many of those people are now eligible for insurance through Affordable Care Act (ACA) marketplaces or Medicaid, the White House isn't promoting either of those options." ^ Making it a little more difficult: "The Trump administration in recent years has also added more red tape and obstacles for people looking to sign up for those programs and hasn't shown any signs it will waive those requirements because of the pandemic." For context: Nearly half of Americans receive their health care coverage through their employers. What to expect: https://bit.ly/3aXAJQh |
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What Bernie did was pretty incredible if you think about it this way: |
| Via The Hill's Niall Stanage, Sen. Bernie Sanders (I-Vt.) dropped out of the race for president yesterday, "but Sanders's failure to claim the big prize shouldn't blind anyone to his achievements." https://bit.ly/3c4g2Cj How so: "It is almost exactly five years since Sanders announced his first presidential run. In that time, his ideas have gone mainstream, he has inspired a new generation of young progressives and he has revitalized the left as a force within the Democratic Party." Interesting tidbit: In April 2015 when Sanders announced his first presidential bid, "The New York Times report on his announcement appeared on page 21 of its print edition and noted that 'Mr. Sanders's bid is considered a long-shot.' The Washington Post used the same phrase and reported that the Vermont senator had 'denied that he was in the race merely to draw attention to issues he cares about.'" |
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This is an interesting cover today: |
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The full article: https://bloom.bg/2XmKbZG |
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| The House and Senate are in. President Trump and Vice President Pence are in Washington, D.C. 11 a.m. EDT: Vice President Pence spoke with Senate Republicans. 12:30 p.m. EDT: President Trump has lunch with Secretary of State Mike Pompeo. 1 p.m. EDT: Vice President Pence speaks with Senate Democrats. 2:30 p.m. EDT: President Trump participates in a phone call with mental health leaders and advocates. Vice President Pence also joins. 3 p.m. EDT: Vice President Pence leads a White House Coronavirus Task Force meeting in the Situation Room. |
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| 5 p.m. EDT: The White House Coronavirus Task Force holds a press briefing. Livestream: https://bit.ly/2Vd7zGo |
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| Today is National Cinnamon Crescent Day. |
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| And because you read this far, here's a man who has made a few new friends while quarantined: https://bit.ly/2x6M41Z |
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