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MNI BRIEF: McConnell Says US In Need of Fiscal Before Year-End

(MNI) WASHINGTON
(MNI)

U.S. Senator Mitch McConnell said Wednesday that Congress should move before year-end to put through a "targeted" fiscal stimulus.

"We need to do it, and I think we need to do it before the end of the year," the Senate Majority Leader said in a press conference in his home state of Kentucky after winning another six-year term. McConnell said there is a "possibility" the next coronavirus aid package will help state and local governments, a key Democratic ask that has so far served as a block on reaching a fiscal relief deal among Republicans and Democrats.

Reiterating the need for a "targeted" approach amounting to roughly USD500 billion, McConnell criticized Speaker Nancy Pelosi's USD2.4 trillion package. The Senator also said he "agrees" with Pelosi that legislation needs to be passed before a Dec.11 deadline for federal government funding that if not passed would cause a government shutdown.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
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