The Dow soars to record high as SHIMMYING Nancy hammers home Biden's $1.9tn relief bill: $1,400 to hit accounts next week as President secures biggest win since taking office - and all without a single GOP vote
The House on Wednesday passed Joe Biden’s $1.9 trillion coronavirus relief package, delivering a major legislative and policy win on the 50th day of his presidency.
House Speaker Nancy Pelosi announced the 220-211 vote result from the chair, prompting the bill’s supporters to burst into applause. Just a single Democrat voted against it.
Her glee at the outcome was evident even though she had a mask on. She executed what her daughter Christine called a 'shimmy' as she gaveled down the vote in a chamber where a five-vote majority gave her very little wiggle room.
As the House passed the biggest relief bill so far, the Dow soared to a record high with prospects of a more promising market with inserted stimulus. The Dow jumped 464 points, or 1.5 per cent, reaching 32,297 points. The broader S&P index rose by more than half a percentage point.
Biden will sign the bill on Friday, White House Press Secretary Jen Psaki told reporters at the White House.
The president then plans to travel the country to sell the plan after signing it into law. ‘He will be hitting the road,’ she said.
Not one Republican crossed the aisle to vote on passing the final version of the legislation, as several of them lamented they were not welcomed to the negotiating table and had no say in the massive package.
‘Heaven forbid that they vote for something a Democratic president wanted,’ House Majority Leader Steny Hoyer grumbled about his GOP colleagues.
Several Republicans denounced the legislation as a ‘ram job’ being forced through Congress by Democrats without any attempt at bipartisanship. Democrats passed it under special budget ‘reconciliation’ rules that allowed it to get through the Senate without being subject to a Republican filibuster.
In a 220-211 vote on Wednesday, the House voted to pass the latest $1.9 trillion COVID relief package with not a single Republican voting in favor of the legislation
House Speaker Nancy Pelosi bangs the gavel Wednesday afternoon as the House approved the Senate version of the American Rescue Plan
Pelosi gave a thumbs up to the chamber after the package passed as she received applause from its supporters when announcing the vote to send the legislation to the president
White House Press Secretary Jen Psaki told reporters at the White House Wednesday as the bill passed that President Joe Biden will sign it on Friday
By doing so, they avoided protracted negotiations over a stimulus package that former President Barack Obama and Biden experienced at the start of Obama’s term.
Pelosi pointed to provisions in the package beyond immediate coronavirus issues – including a boost in the child tax credit meant to shore up struggling families amid the economic fallout.
‘How do you say no to lifting 50 per cent of impoverished children in America, out of poverty?’ she asked in her floor speech.
An administration-wide effort will sell the plan to the public. ‘'He will be hitting the road, the vice president will be hitting the road. The first lady will be hitting the road. We will have people out communicating directly in communities,' Psaki said.
Democrat Jared Golden of Maine was the sole Democrat who voted against the bill – he also voted against the first version that passed the House.
In a statement on his vote, Golden said: 'Borrowing and spending hundreds of billions more in excess of meeting the most urgent needs poses a risk to both our economic recovery and the priorities I would like to work with the Biden Administration to achieve, like rebuilding our nation’s infrastructure and fixing our broken and unaffordable healthcare system.'
Biden said in a statement: 'For weeks now, an overwhelming percentage of Americans – Democrats, Independents, and Republicans – have made it clear they support the American Rescue Plan. Today, with final passage in the House of Representatives, their voice has been heard.'
He added: 'This legislation is about giving the backbone of this nation – the essential workers, the working people who built this country, the people who keep this country going – a fighting chance.'
Representative Marcia Fudge of Ohio cast her last vote as congresswoman by proxy shortly after being confirmed by the Senate to join Biden’s cabinet as Secretary of Housing and Urban Development.
She provided notice of her resignation immediately after voting in favor of the bill.
Democratic leaders were already planning a ceremony Wednesday afternoon to celebrate passage and formally enroll the bill, notwithstanding Greene's demand for additional time to consider 'enslaving' Americans with more debt.
The quick ceremony being organized by Pelosi was meant to convey urgency to get the measure to Biden's desk, while trumpeting its extension of unemployment benefits, aid to states and local governments, and influx of cash to push out vaccine distribution.
House Minority Leader Kevin McCarthy denounced the bill as a 'ram job', claiming 'Democrats have abandoned any pretense of unity'
Rep. Marjorie Taylor Greene stalled the final vote Wednesday by forcing a tally on a motion to adjourn so her colleagues could 'pause' and consider the legislation further. 'There is no need to enslave the American people... in more debt,' she lamented
Several Republicans denounced the legislation as a 'ram job' being forced through Congress by Democrats without any attempt at bipartisanship.
House Minority Leader Kevin McCarthy said during floor remarks on Wednesday that the legislation is a prime example of how 'socialism works' while claiming the bill only benefits those in 'the swamp'.
'I know the Democrats in the House are excited,' McCarthy started.
'From H.R. 1 to voting to defund police, House Democrats have abandoned any pretense of unity,' McCarthy charged. 'It passed three major bills in one month with zero bipartisan support.'
'Today, they plan to pass another,' he said ahead of the vote.
Greene has emerged as a prominent member of the House GOP while rankling some of her colleagues with her repeated procedural motions and past expressions of support for the QAnon conspiracy theory.
'This Congress is ramming through unbelievable things at a rapid pace,' the Georgia Republican representative lamented. 'This must be stopped.'
She continued: 'We have to give pause and consideration to what we're doing. This is a waste of money and a complete waste of time. Reopening America is a much better way to go.'
'Mr. Speaker, I ask for a motion to adjourn,' she demanded. Despite a resounding 'no' in the chamber, Greene requested a roll call vote, which pushed back consideration of the legislation.
The House met Wednesday morning at 9:00 a.m. to take up the massive American Rescue Plan marked up by the Senate over the weekend.
The vote Wednesday delivers President Joe Biden a massive win on Day 50 of his presidency
The bill passed – despite disappointing some Democrats with a pared back boost in weekly unemployment benefits of $300 rather than $400 in an earlier House-passed bill. That change was made to get it through the 50-50 Senate.
Passage delivered President Joe Biden a major win on Day 50 day of his presidency.
The final vote got briefly delayed by Greene's demand for a roll call vote on her motion to adjourn, and it wasn't immediately clear if she would try to offer more.
'There is no need to enslave the American people, our children, our grandchildren, our great grandchildren and generations going forward in more debt,' she said.
McCarthy took aim at the size of the legislation during floor remarks denouncing the one-sided nature of the process now that Democrats hold a majority in the House and Senate.
He detailed that the average American will end up contributing more toward funding the nearly $2 trillion package than they will receive in direct benefits from the American Rescue Plan – one in a series of massive relief and stimulus bills passed in the midst of the coronavirus pandemic.
'The so-called relief bill will end up costing every hardworking taxpayer in America more than $5,000 each,' McCarthy said. 'You send the government your tax dollars, but you only get a fraction of what you pay for, at the very best.'
'You know, we warned people on the internet about email scams. It's like one of those emails where you get a promise you'll get millions of dollars, but first you have to wire them some money. That's exactly what's happening here today. This is the reality of this bill before us. It showers money on special interest, but spend less than 9 per cent on actually defeating the virus.'
The Republican California congressman added: 'Interesting how socialism works.'
Direct checks in the amount of $1,400 could begin distribution as early as next week after Biden signs the bill Friday. The president told reporters Monday that he would sign the bill 'as soon as I get it.'
The lower chamber had to vote on the Senate version of the bill, which passed midday Saturday after an all-night vote-a-rama Friday night. Although the Democrat-led House did accept the changes there were a few added provisions that many, especially progressives, did not support.
In particular, far-left Democrats are not happy with the boosted unemployment benefits number being reduced by $100 per week and the Senate deciding to change the salary eligibility requirements for direct checks.
President Joe Biden said he will sign the American Rescue Plan as soon as it hits his desk – meaning $1,400 direct checks could be sent out as early as next week
No comments