Republicans suddenly find a bailout they can back – POLITICO
"This is not like the financial meltdown, where you had banks that made bad decisions and asked the government to bail them out," said Sen. Marco Rubio (R-Fla.). "We are basically telling people not to go out, not to spend money at these stores, and in some jurisdictions, not go to work. ... It's an unprecedented challenge."
Republicans are eager to make that argument as they embark on a wide-ranging rescue mission and fend off charges that theyre ditching their free-market principles. Senior administration officials have been careful not to refer to President Donald Trumps plan as a bailout a tacit acknowledgement that the proposal could spark a revolt while being politically toxic for the GOP down the road. Some outside conservative groups are already urging lawmakers on Capitol Hill to reject direct aid for industries.
But at least for now, Republicans are mostly brushing aside long-held cost concerns in order to salvage the economy and perhaps Trumps reelection, as well as their own.
Rep. Andy Biggs. | J. Scott Applewhite/AP Photo
The term bailout does give everyone pause, and justifiably so, said Rep. Andy Biggs (R-Ariz.), chairman of the conservative House Freedom Caucus.
But even Biggs, who voted against the Houses $100 billion coronavirus bill last week, didnt entirely shut the door on supporting the next round of stimulus. We do want this country to be strong, he said. You have to consider future generations.
Particularly in the face of an extraordinary public health crisis which Sen. John Boozman (R-Ark.) compared to World War II lawmakers are calculating that there is a far greater risk if they dont take aggressive steps to protect the economy.
Treasury Secretary Steven Mnuchin on Tuesday pitched Senate Republicans on whats likely to be a $1 trillion package, with around $500 billion in direct cash payments for individuals as well as money for emergency loans for small businesses hit by the economic slowdown and assistance for the airline industry.
GOP Rep. Peter King of New York, who backed the 2008 financial industry rescue, said he is inclined to support whatever Trump and GOP leadership come up with, even if its not ideal.
In ordinary times, some would have those concerns, about the cost and the deficit, King said. But, he added, in times of crisis, you cant let the perfect be the enemy of the good.
Trumps strong support for a stimulus package could also provide Republicans with some much-needed political cover especially if it means resuscitating the economy, which was supposed to be the GOPs crown jewel in the 2020 elections.
Last Friday, the Capitol was at a standstill waiting for Trump to tweet his support for the Houses coronavirus relief bill, which expands access to free testing, provides $1 billion in food aid and extends sick leave benefits to vulnerable Americans. When Trump finally did, all but 40 Republicans ended up voting for the legislation.
But some GOP lawmakers were frustrated that they voted in the early hours of Saturday morning on a bill they didnt have time to fully read. And the legislation was so hastily written that the chamber had to pass 90 pages of technical corrections on Monday.
House Minority Leader Kevin McCarthy (R-Calif.) and Mnuchin sought to alleviate some concerns during a conference call with ranking members and GOP caucus leaders on Tuesday during which they walked lawmakers through the changes and vowed to be more inclusive in the next phase of their economic response. But Republicans also recognize the sense of urgency and the need to act fast.
Rep. Tom Cole. | Matt Rourke/AP Photo
Would you like to slow it down? Yeah, were talking about a lot of money here. But were also talking about an unprecedented challenge to the economy, said Rep. Tom Cole of Oklahoma, the top Republican on the House Rules Committee, who was on the call. The sheer speed with how this virus spreads requires a speedy response.
Having lived through [Troubled Asset Relief Program] calls and TARP meetings, Cole added, theres just not been the level of acrimony.
The GOPs early embrace of a pricey stimulus package caps a transformation of the party that has been three years in the making. Trump has kept a firm grip on the GOP, overseeing a massive tax cut and putting the deficit on track to surpass $1 trillion.
There are still a number of fiscal hawks and conservative hard-liners who have pushed back against deficit-busting bills and they are certain to raise concerns during the coming debate.
Sen. Rand Paul (R-Ky.) is vowing to offer an amendment to cut spending from other programs for every dollar added in stimulus spending, while the Club for Growth and other conservative groups backed by megadonor Charles Koch are urging lawmakers to reject any tax-payer funded bailouts that provide direct relief to industries hit by the coronavirus.
Rep. Louie Gohmert. | Shawn Thew-Pool/Getty Images
Rep. Louie Gohmert (R-Texas) even threatened to hold up quick passage of the Houses revised coronavirus bill, though he eventually backed off. Still, his antics sparked some concern among Republicans that the partys right flank will get in Trumps ear and sour him on the idea of a massive economic relief plan.
What we do have to worry about is Louie Gohmert, a few others, getting to Fox News, said one GOP lawmaker. If momentum [against it] builds up on its own, the president may turn on it.
But Senate Majority Leader Mitch McConnell is undeterred, vowing to press ahead with the stimulus package at warp speed.
These are not ordinary times. This is not an ordinary situation, the Kentucky Republican told reporters. So it requires extraordinary measures.
John Bresnahan contributed to this report.
See the rest here:
Republicans suddenly find a bailout they can back - POLITICO
- Republicans big bill scared bond markets. Thats bad news for your wallet. - MSNBC News - May 26th, 2025 [May 26th, 2025]
- Analysis | The Big Beautiful Bill is a big risk for House Republicans. Many of them hope otherwise. - The Washington Post - May 26th, 2025 [May 26th, 2025]
- Top Republicans threaten to block Trumps spending bill if national debt is not reduced - The Guardian - May 26th, 2025 [May 26th, 2025]
- Florida Republicans Break With Trump Over Venezuelan Deportations - The New York Times - May 26th, 2025 [May 26th, 2025]
- How House Republicans' big tax and spending vote will shape the next election - NBC News - May 26th, 2025 [May 26th, 2025]
- House Republicans narrowly passed Trumps big, beautiful bill. Heres whats in it - PBS - May 26th, 2025 [May 26th, 2025]
- Republicans are dodging fired federal staff: They will not even look in our direction - The Guardian - May 26th, 2025 [May 26th, 2025]
- Two House Republicans missed the big vote - Politico - May 26th, 2025 [May 26th, 2025]
- House Republicans Have Passed a Bill to Gut the IRA. What Happened to All the Supposed Holdouts? - Inside Climate News - May 26th, 2025 [May 26th, 2025]
- Fury as Republicans go nuclear in fight over California car emissions - The Guardian - May 26th, 2025 [May 26th, 2025]
- 7 things Senate Republicans hate about the House megabill - Politico - May 26th, 2025 [May 26th, 2025]
- Now That House Republicans Took the Plunge, Its the Senates Turn - The New York Times - May 26th, 2025 [May 26th, 2025]
- House Republicans pass Trump's big bill of tax breaks and program cuts after all-night session - AP News - May 26th, 2025 [May 26th, 2025]
- The reconciliation bill is Republicans doing what they do best - vox.com - May 26th, 2025 [May 26th, 2025]
- The Devastating Harms of House Republicans Big, 'Beautiful' Bill by State and Congressional District - Center for American Progress - May 26th, 2025 [May 26th, 2025]
- Senate Republicans aim to get Trump's 'big, beautiful bill' to his desk by July 4 - Fox News - May 26th, 2025 [May 26th, 2025]
- House Republicans press ahead on Trump agenda bill with key issues up in the air - NBC News - May 26th, 2025 [May 26th, 2025]
- House Republicans tee up floor action on Trumps megabill - Politico - May 26th, 2025 [May 26th, 2025]
- Opinion | One Thing Still Unites Republicans - The New York Times - May 26th, 2025 [May 26th, 2025]
- House Republicans pass big, beautiful bill after weeks of division - Politico - May 26th, 2025 [May 26th, 2025]
- House Republicans Just Dealt a Blow to Wind Developers - THE CITY - NYC News - May 26th, 2025 [May 26th, 2025]
- Chuck Schumer is already panning blue state Republicans for caving on SALT - Politico - May 26th, 2025 [May 26th, 2025]
- Trump urges House Republicans not to mess with Medicaid amid push to pass bill advancing his agenda: Sources - ABC News - May 26th, 2025 [May 26th, 2025]
- Why House Republicans stripped a regulatory overhaul from their megabill for now - Politico - May 26th, 2025 [May 26th, 2025]
- Blue-state Republicans score SALT win in megabill revisions - Politico - May 26th, 2025 [May 26th, 2025]
- The 5 House Republicans who didn't vote for Trump's sweeping tax bill - USA Today - May 26th, 2025 [May 26th, 2025]
- Senate Republicans put House on notice: We won't accept your Trump agenda bill without changes - NBC News - May 15th, 2025 [May 15th, 2025]
- Republicans advance bill with steep cuts to Medicaid as part of Trump agenda - The Hill - May 15th, 2025 [May 15th, 2025]
- Conservative Republicans Revolt Over Domestic Policy Bill, Threatening Its Path - The New York Times - May 15th, 2025 [May 15th, 2025]
- House Republicans Medicaid Cuts and Associated Lives Lost by Congressional District - Center for American Progress - May 15th, 2025 [May 15th, 2025]
- Heres Whats in House Republicans Big Tax Bill to Deliver Trumps Agenda - The New York Times - May 15th, 2025 [May 15th, 2025]
- Republicans Outdo Themselves in Food Stamp Cuts - The American Prospect - May 15th, 2025 [May 15th, 2025]
- House Republicans are zeroing in on a sweeping tax package. Heres what it could mean for you - CNN - May 15th, 2025 [May 15th, 2025]
- Republicans want Congress involved in Trumps Qatar jet push - Politico - May 15th, 2025 [May 15th, 2025]
- Renewable Energy Is Booming in Texas. Republicans Want to Change That. - The New York Times - May 15th, 2025 [May 15th, 2025]
- House Republicans Tax Bill Is Full of New Loopholes for the Ultrawealthy - Center for American Progress - May 15th, 2025 [May 15th, 2025]
- House Republicans Push Forward Plan to Cut Taxes, Medicaid and Food Stamps - The New York Times - May 15th, 2025 [May 15th, 2025]
- Opinion | House Republicans are about to wreck Trumps nuclear-powered dream - The Washington Post - May 15th, 2025 [May 15th, 2025]
- Republicans May Not Even Be Able to Move Reconciliation Out of Committee on Time - notus.org - May 15th, 2025 [May 15th, 2025]
- First time we were hearing of them: The GOP megabill is packed with surprises for some Republicans - Politico - May 15th, 2025 [May 15th, 2025]
- Republicans propose prohibiting US states from regulating AI for 10 years - The Guardian - May 15th, 2025 [May 15th, 2025]
- Congressional Republicans Reconciliation Plan Could Cost a Working-Class Family Thousands More Per Year - Center for American Progress - May 15th, 2025 [May 15th, 2025]
- ICYMI: CONGRESSIONAL REPUBLICANS AND PRESIDENT TRUMP UNVEIL THEIR PLAN TO TRADE AWAY AMERICANS HEALTH COVERAGE FOR TAX CUT FOR THE WEALTHY - U.S.... - May 15th, 2025 [May 15th, 2025]
- RFK Jr. and his 'MAHA' agenda make some Republicans nervous as they look to the midterms - NBC News - May 15th, 2025 [May 15th, 2025]
- Opinion | How do Republicans plan to cut health coverage? Two basic ways. - The Washington Post - May 15th, 2025 [May 15th, 2025]
- Trump's 'palace in the sky' plane gift concerns some Republicans - Reuters - May 15th, 2025 [May 15th, 2025]
- Proposed Medicaid cuts by Republicans leave patients and doctors fearing the worst - NBC News - May 14th, 2025 [May 14th, 2025]
- House works into the night as Republicans push ahead on Trumps big bill - AP News - May 14th, 2025 [May 14th, 2025]
- Whats in Trump and Republicans giant tax and immigration bill? - The Washington Post - May 14th, 2025 [May 14th, 2025]
- Republicans Have Landed on a Grisly Compromise for Cutting Medicaid - Slate Magazine - May 14th, 2025 [May 14th, 2025]
- Marathon hearings begin as House Republicans push ahead with Trumps big bill - PBS - May 14th, 2025 [May 14th, 2025]
- Republicans face a crucial stretch this week as they aim to deliver on Trump's agenda - NPR - May 14th, 2025 [May 14th, 2025]
- The House Republicans' Budget Bill Guts Basic Needs Programs for the Most Vulnerable Americans to Give Tax Breaks to the Rich - Center for American... - May 14th, 2025 [May 14th, 2025]
- House Republicans pension changes will save nearly $51B, CBO says - Politico - May 14th, 2025 [May 14th, 2025]
- House Republicans face down Dem attacks, protests to pull all-nighter on Trump's 'big, beautiful bill' - Fox News - May 14th, 2025 [May 14th, 2025]
- Congressional Republicans Are Planning One of the Largest-Ever Cuts to Basic Supports for Children - Center for American Progress - May 14th, 2025 [May 14th, 2025]
- House Republicans unveil Medicaid cuts that Democrats warn will leave millions without care - AP News - May 14th, 2025 [May 14th, 2025]
- Republicans push to repeal clean energy tax breaks, putting companies in limbo and billions in investments at risk - The Daily Climate - May 14th, 2025 [May 14th, 2025]
- Opinion | House Republicans take on Medicaid - The Washington Post - May 14th, 2025 [May 14th, 2025]
- Republicans Propose Paring Medicaid Coverage but Steer Clear of Deeper Cuts - The New York Times - May 14th, 2025 [May 14th, 2025]
- Republicans have a plan to add trillions of dollars to the national debt - The Economist - May 14th, 2025 [May 14th, 2025]
- AFGE Fights House Republicans $50 Billion Cuts to Federal Workers Retirement, Attack on Merit System - AFGE - May 14th, 2025 [May 14th, 2025]
- Republicans Propose No Regulation of AI for the Next 10 Years - Newsweek - May 14th, 2025 [May 14th, 2025]
- To Republicans, We Are the Waste | Opinion - Newsweek - May 14th, 2025 [May 14th, 2025]
- House Republicans spark outrage with bilingual post as GOP infighting intensifies - Fox News - May 14th, 2025 [May 14th, 2025]
- Virginia Republicans are reeling and they have no one to blame but themselves - MSNBC News - May 14th, 2025 [May 14th, 2025]
- Trump imposed new taxes with only a wave of his hand, and Nevada Republicans are fine with that - Nevada Current - April 25th, 2025 [April 25th, 2025]
- Michigan House Republicans want to shift who has the power to appoint the state superintendent - Michigan Advance - April 25th, 2025 [April 25th, 2025]
- How 3 Republicans survived their town halls - Politico - April 25th, 2025 [April 25th, 2025]
- People think Republicans arent perfect, but the other side is crazy: Sen. John Kennedy - Fox News - April 25th, 2025 [April 25th, 2025]
- Republicans Killed 43 Democratic Voucher Amendments. See What They Opposed. - Reform Austin - April 25th, 2025 [April 25th, 2025]
- A dozen House Republicans fire warning shot to Mike Johnson on Medicaid cuts - Axios - April 18th, 2025 [April 18th, 2025]
- Republicans in many states forge ahead with bills requiring proof of citizenship to vote - The Guardian - April 18th, 2025 [April 18th, 2025]
- Michigan House Republicans want the State Board of Education to lose this power - Chalkbeat - April 18th, 2025 [April 18th, 2025]
- Republicans reconsider their commitment to tax cuts for the rich in Trump agenda bill - NBC News - April 18th, 2025 [April 18th, 2025]
- House Republicans refuse to pass ceremonial resolution honoring Cecile Richards - The Texas Tribune - April 18th, 2025 [April 18th, 2025]
- Republicans Are Trying to Steal an Election - Democracy Docket - April 18th, 2025 [April 18th, 2025]
- Capital Tonight: Texas Republicans clear major hurdle in passing school vouchers - Spectrum News - April 18th, 2025 [April 18th, 2025]
- Polling shows growing number of Republicans identify with the MAGA movement - NBC News - April 18th, 2025 [April 18th, 2025]
- Republicans Debate Higher Taxes on the Rich - The New York Times - April 18th, 2025 [April 18th, 2025]