Biden meets with Republicans on COVID-19 relief

Automatic TRANSCRIPT

Republican lawmakers today that just wrapped up led by Senator Susan Collins to discuss New covert 19 relief package more in depth now from Elizabeth Schultz. He was covering it for ABC News and talked with Cuomo's Taylor Vance Ice Elizabeth. We know President Biden is in favor of a $1.9 trillion package. What is Senator Collins and her team pushing for well, they are wanting a much smaller packages. The reality here they're pushing for a deal worth $618 billion persons at $1.9, Trillion put forward by President Biden. It includes some of the same provisions like Monday like money for vaccine distribution, small businesses childcare in schools, and it also includes another round of stimulus checks. The Republican proposal includes stimulus checks for $1000. Or individuals. But it's a much smaller group of Americans that we've seen in the past and in President Biden's proposal, these would only go to people making up to $50,000 a year. The Republicans are calling it a much more targeted approach. Given how much economic stimulus has already been passed, they say, We just do not need to pass this trillion dollar amounts. Okay, Any word at this point, though, if the president's team or the president himself is willing to bite on any of that, not at all. We're hearing from the White House, in fact that this is a meeting to exchange ideas. Not to reach some sort of grand bargain. The White House has said time and time again that the risk is that not enough ages past versus too much, so they seem to really be standing by this nearly $2 trillion amount. Now. The question is if they're going to move forward in Congress, with a plan that could essentially passed by this proposed proposal without any Republican votes. So far, the House and the Senate have taken the first step to do that, in a process called budget reconciliation that would essentially allow this Broader package to pass to the simple majority in both the House and the Senate that we wouldn't need a bipartisan deal to be reached at the end of the day. So that's something that President Biden was really pushing for. On the campaign trail is this idea of bipartisanship. Now, As this meeting began between Republicans and the president, there was some news that broke from the Congressional Budget Office right about how the U. S economy. Is expected to recover. There is no notably today that Congressional Budget Office upgraded its forecast for the economy and now expects GDP growth to reach its pre pandemic level. By the middle of this year, so this complicates the negotiations a little bit, and that the forecast seems a little bit rosier than had previously been thought. At the same time, the CBO says it's going to take years for the jobs market to fully recover with millions of Americans. Well unemployed and the White House response to this was essentially that even if the broader economy looks like it's going to come back, there's still so many people who need aid to pay their rent. You cannot get through the day to day and there is no question that we need more money to get these vaccines after people so they're still standing by their kind of push for more stimulus, And they say that really they're just cannot be enough. Aid right now, even if the outlook is looking a little bit better here and just for my own clarification that this CBO congressional budget office estimation that's assuming that there wasn't another sort of relief package passed, right. That's correct. That's based on the current outlook, just as it is, and I will know that there have been other afternoons out there that say that if the current package passed by Biden go through, that would significantly boost to growth even by a lot more. Alright. The ABC is Elizabeth shows

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