Monday, March 23, 2020

Did the US Senate really consider a Coronavirus bill yesteday?

Over the past 18 hours have you seen headlines like these? "US Senate fails to pass cloture vote on Coronavirus stimulus bill" and "Senate falls short of votes needed to advance Coronavirus bill" or "Democrats block coronavirus bill that provides lifeline to economy, families"?

Ever wondered why the media outlets typically FAIL to include either the title of the bill, the bill number or a link to the bill number in their "news" pieces?

Because HR 748, the foundational bill the US Senate FAILED to advance to debate yesterday didn't even start out as a Coronavirus Stimulus bill.

HR 748 - The Middle Class Health Benefits Tax Repeal Act of 2019---is the foundation of A bill the U.S. Senate failed to advance yesterday.

The Daily Caller article provided a clue:


The Senate on Sunday night failed to pass a procedural cloture vote on a phase-three coronavirus stimulus bill as there has been continued internal dispute between both parties.


The vote was 47-47. Senate Majority Leader Mitch McConnell said Sunday that the bill would include $75 billion for hospitals and that two-thirds of all new money in the bill would go to states, however, this vote will likely end consideration of this bill. McConnell also said, “it’s just about time to take yes for an answer.” Democrats have said the coronavirus bill lacks new SNAP funds and were reportedly pushing for expanded emergency leave provisions and more than three months of unemployment insurance.

Here's the Vote Summary on the U.S. Senate website; note the vote count is 47-47, with six Senators not voting.

Whats the measure number, including bill number and title? 

Measure Number: H.R. 748 (Middle Class Health Benefits Tax Repeal Act of 2019 ) A bill to amend the Internal Revenue Code of 1986 to repeal the excise tax on high cost employer-sponsored health coverage.



Does HR 748, a bill repealing the excise tax on employer-sponsored health care coverage sound like a Coronavirus Stimulus bill to you?
Not to me it doesn't.
Oh sure, five amendments were added to HR 748 by the U.S. Senate (here).
Two of the five amendments pertaining to the Federal Open Market Committee (FOMC) look a lot like the action taken by the Federal Reserve this morning here, here, and here
But the other three amendments had nothing to do with those $1200 per person direct payments, expanded state unemployment insurance and other measures designed to provide emergency assistance to individuals, families, and businesses affected by the 2020 Chinese Coronavirus pandemic.
So did the US Senate really consider a Coronavirus bill yesterday?