Senator Bill Cassidy was one of ten Republican Senators to meet with President Biden Monday night to discuss the next round of COVID relief.
Biden backs a 1.9 trillion dollar plan while Cassidy and company prefer a 618 billion dollar bill. Cassidy said the two sides began a dialog.
“Our goal was not to reach a deal, it was to speak to the president regarding the rationale for his plan and the rationale for ours. Ours is targeted and actually based upon data. Of course he thinks the same of his,” said Cassidy.
Some of the key differences: in Biden’s plan federally boosted unemployment would be extended through September at 400 dollars a week, while Republicans prefer 300 a week through June. Biden supports 1,400 dollar stimulus checks for those earning 75,000 a year and under, Republicans back 1,000 dollar checks from those making 50,000 a year and under.
Biden’s plan also includes increased child tax and earned income tax credits along with increased health insurance subsidies and a 15 dollar federal minimum wage.
Another major sticking point: Biden’s “American Rescue Plan” includes 350 billion in aid for state and local governments, but Cassidy said those entities have only seen a one percent decline in revenue.
“For Louisiana it’s more, 4.6 percent we have lost, but for California, as big as California is, their revenues went up 3.5 percent,” said Cassidy.
Cassidy’s one percent revenue loss number is cited from a recent JP Morgan analysis.
Democrats have threatened to pass the 1.9 trillion without Republican support in the newly slim Blue majority Congress. Cassidy said with Senators like Bernie Sanders of Vermont pushing for passage without Republican backing he’s not sure a deal can be made with the new President.
“The President in his inaugural address talked about unity, about bipartisanship. We think it will be better to have a bipartisan package as opposed to one that is rammed through,” said Cassidy.
Without ten Republicans in support Democrats would have to pass the package through a process known as reconciliation, which can only be attempted a limited number of times a year.
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