Congressional Record, Senate, December 20, 2020, Page S7862
Summary
A page of the Congressional Record, Senate, dated December 20, 2020, at page S7862. Mr. Cotton commends Senator Toomey for ending CARES Act-funded Federal Reserve programs and says the Senate Republican conference position was to protect the independence of the Fed from political pressure. A Senator says the agreement is a package of nearly $900 billion with a targeted second draw of the Paycheck Protection Program, extended unemployment benefits, funds for vaccine distribution and another round of direct impact payments. Other remarks describe $25 billion in direct rental assistance and an extended eviction moratorium, and Mr. Schumer asks that the order for the quorum call be rescinded.
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“Congressional Record, Senate, December 20, 2020, Page S7862.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2020-12-20-crec-2020-12-20-pt1-pgs7862-84a1258084/
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S7862 CONGRESSIONAL RECORD — SENATE December 20, 2020
and we have legislation that is at- Mr. COTTON. Mr. President, I want cue package for the American people.
tempting to address many of those to commend Senator TOOMEY and As our citizens continue battling this
issues with forgivable loans and an in- thank him for his expertise, for his coronavirus this holiday season, they
crease in unemployment benefits and foresight, and for his courage on the will not be fighting alone.
other provisions. It is here on the Sen- issue of ending these CARES Act-fund- We have agreed to a package of near-
ate floor, through legislation like that, ed Federal Reserve programs. ly $900 billion. It is packed with tar-
that we should decide how, whether, You have probably seen that over the geted policies to help struggling Amer-
and to what extent we are going to ad- last few days, he has been subjected to icans who have already waited entirely
dress those problems. That is our job— an onslaught of vicious, dishonest at- too long. For workers at the hardest
to do it through an appropriation proc- tacks by Democrats and their stenog- hit small businesses, there will be a
ess here in the Senate. That is not the raphers in the Press Gallery, saying targeted second draw of the Paycheck
job of the Fed. that he was somehow gumming up the Protection Program. We have not
That brings me to another really im- works, that we were not going to pass worked so hard to save as many jobs as
portant reason why we didn’t want this bill because the Toomey language possible, all these months, only to fum-
these programs to continue indefi- was stopping it. Nothing could be fur- ble the ball with vaccinations already
nitely, and that is to protect the Fed ther from the truth. underway.
from being politicized, to preserve the First off, while Senator TOOMEY may Speaking of vaccines, we can’t nul-
independence of the Fed, which is very, be our thought leader on this issue, lify the success of Operation Warp
very important. this was the Senate Republican con- Speed by falling asleep at the switch on
If the Fed ever became simply an ex- ference’s position. That is why our ma- distribution. This agreement will pro-
tension of one of the political parties, jority leader stood firm behind it. vide huge sums for the logistics that
we would be in a very, very bad place. Second, as Senator TOOMEY said, this will get these lifesaving shots to our
But think about it. If these programs is not a new issue; this is not some- citizens as fast as possible.
were going to continue indefinitely and thing we just started debating. We had Of course, many millions of Ameri-
our Democratic colleagues got their versions of this in our bill this sum- cans have lost their jobs—and are con-
wish that is represented in the Heroes mer. As he laid out, the minority lead- tinuing to lose them—through no fault
Act—to have massive subsidies for mu- er and the Speaker of the House had a of their own. This package will renew
nicipalities—think about the amount version of it in their $3.4 trillion this and extend a number of the additional
of political pressure on the Fed to bail summer as well. The minority leader important Federal unemployment ben-
out whoever is the preferred con- sent a letter about it. This has been at efits that have helped families stay
stituent of the day: private or public, the heart of this legislation’s debate afloat.
municipal or business. Across all kinds of families, in all
for months. And the fact that it was in
Just think about how it would be kinds of situations, this has been a dif-
their legislation, it was in their let-
used, and think about the strings that ficult time across the board. So, at the
ter—they kept saying that we wanted
they would—they have advocated this. particular request and emphasis of
to somehow sabotage the economic re-
Many of our Democratic colleagues President Trump and his administra-
covery—just goes to show you what
have said: This could be a way to en- tion, our agreement will provide an-
their intents were with these pro-
courage unionization or encourage the other round of direct impact payments
grams. It was to use them, as Senator
composition of the Board to look like to help households make ends meet and
TOOMEY said, as political slush funds;
we would like it to look. continue our economic recovery.
It is an endless list, and it is all wild- use them to bail out—I don’t know— We all know this crisis has tested our
ly inappropriate for the central bank of New York State or the city of New healthcare providers. This legislation
America to be engaged in this kind of York; use them to impose politically will continue to fund the frontlines.
thing. You should never put the Fed in correct policies on companies that But the crisis in American education
the position of the incredible political could come to the Fed and get low- or has been staggering as well. So this
pressure that they would have been no-interest-rate loans if they danced to package will supply millions and mil-
under. the woke left’s tune. lions of dollars to help get kids back in
So with this bill—and I hope we are Senator TOOMEY and Senate Repub- school and to do so safely.
able to vote on this, if not today then licans drew the line on this. We drew These are just some of the key com-
tomorrow. There are some things in the line on politicizing the Fed. We had ponents. There are many more. And
this bill—unrelated things—that I like. no intent whatsoever to harm the Fed’s importantly, we are going to supply
I do think we need another round of background ability to take emergency this emergency aid in a way that is
PPP loans. I do think we need the ex- action, and we will be prepared in the smart and responsible. We will be
panded eligibility for unemployment future, as Congresses in the past have repurposing more than $560 billion in
benefits, for instance. Here are things I been, in an economic crisis to act as money that was already set aside by
don’t like. I think direct payments to well, just like we have twice in the last the CARES Act—but not spent—toward
people who have not suffered a loss of 12 years—2008 and 2020. these urgent needs that I have out-
income makes no sense whatsoever. But nothing you have read in the lined.
But this topic I have been discussing— news about Senator TOOMEY and his We will be appropriately paring back
the end of these 13(3) lending facilities language that he carried on behalf of some of the most expansive powers
is a very important part of the bill that the Senate Republican conference that Congress temporarily gave
I like very much. could be further from the truth. I want unelected officials to stabilize the fi-
There are four important objectives to thank him for standing strong, and nancial system back in the springtime.
we set out, and we achieved them: I want to thank the majority leader for And I want to particularly thank Sen-
sweeping the money out; shutting standing strong on this as well. ator TOOMEY for his extraordinary con-
down existing facilities, the four exist- I yield the floor. tribution to that effort.
ing CARES-funded facilities; forbidding The PRESIDING OFFICER. The ma- At long last, we have the bipartisan
their reopening without the consent of jority leader. breakthrough the country has needed.
Congress; and forbidding clones from CORONAVIRUS Now we need to promptly finalize text,
being an end-run around that—all Mr. MCCONNELL. Mr. President, for avoid any last-minute obstacles, and
without impinging on the Fed’s ability the information of all Senators—and, cooperate to move this legislation
to intervene in the markets in emer- more importantly, for the American through both Chambers.
gency circumstances. Those were our people—we can finally report what our This is good news. But I need to close
dlhill on DSK120RN23PROD with SENATE
objectives. In this legislation, we Nation has needed to hear for a very with one observation that is regret-
achieve all four of those objectives. I long time: More help is on the way. table. From where I stand, from where
would say that is a good day’s work. Moments ago, in consultation with Senate Republicans stand, there is no
I yield the floor. our committees, the four leaders of the reason this urgent package could not
The PRESIDING OFFICER. The Sen- Senate and House finalized an agree- have been signed into law multiple
ator from Arkansas. ment. There will be another major res- months ago—multiple months ago.
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December 20, 2020 CONGRESSIONAL RECORD — SENATE S7863
For months, Senate Republicans The PRESIDING OFFICER. Without that when President Biden takes over,
have consistently supported a targeted objection, it is so ordered. he can do more and help us dig out of
rescue package, under $1 trillion, fo- CORONAVIRUS this deep hole.
cused on the same kinds of policies Mr. SCHUMER. Mr. President, after And the good news, too, the poison
that we have actually settled on today. weeks of intense bipartisan negotia- pills that so stopped any progress put
As far back as July, and all autumn, tion, the leadership of both Chambers, in by the majority leader are not in
Republicans have consistently sup- as well as the White House, have this bill. It won’t include any provision
ported a targeted package right in the reached an agreement on an emergency to limit the legal rights of workers who
ballpark of this total amount, with ex- Federal relief package. The agreement were put in harm’s way or any provi-
actly the same kinds of policies in the on this package could be summed up by sion to gratuitously limit the author-
mix. the expression ‘‘better late than ity of the Fed.
The package that will shortly be- never,’’ although I know many of my Now, it is remarkable how far we
come law falls exactly within the ball- Republican colleagues wished it was have come. As I mentioned earlier, this
park of what Senate Republicans have never. summer, the Republican leader admit-
been proposing and trying to pass since After a long and arduous year, after a ted 20 Members of his caucus didn’t
last summer. This is eerily similar to year full of bad news, finally, we have want to vote for another dime of
what we were trying to pass last sum- some good news to deliver to the Amer- COVID relief. Before negotiating with
mer. ican people. Make no mistake about it, Democrats, the majority offered a
Compare the shape of this major this agreement is far from perfect, but package of $500 billion that contained
agreement with the shape of what I it will deliver emergency relief to a na- poison pills designed to doom the thing
proposed all the way back in late July. tion in the throes of a genuine emer- from the start. That way, Republican
Yes, some fine details are different. gency. Senators wouldn’t be forced to approve
There is no doubt this new agreement It should have the votes to pass the any new spending. Here at the end of
contains input from our Democratic Senate, the House, and reach the Presi- the year, reason has prevailed—sweet
colleagues. It is, of course, bipartisan. dent’s desk to become law. We should reason—and we will now deliver a
But those matters could have been set- make that happen as soon as possible— package of almost a trillion dollars.
tled a long time ago as well. as soon as possible—even tonight, if we That matters not for any one party.
Why did it take all this time? We can. It matters for the American people be-
know why. We have heard Democrats By all rights, a bill of this urgency cause we increased the size of this bill,
say openly that they were not willing should have passed 8 months—should expanded its reach. More Americans
to deal all summer and fall but are have passed months ago. The country will receive assistance before the holi-
willing now—willing now—because needed it. days. For Americans who have lost
they have a President-elect of their But we all know what happened. The
their jobs through no fault of their
own political party. That is not my ac- Republican majority caused more than
own, this bill will throw out a safety
cusation; that is their admission. They 8 months of delays and gridlock. Twen-
net.
have been pretty candid about it. ty Members of the Senate majority Initially, Republicans were ready to
So, look, I am glad we have gotten wanted no money. And what the Re- let enhanced unemployment benefits
this done. My Democratic colleagues publican leader simply forgets, for
expire. They were ready to move on
and I have had good discussions this months, he said: Let’s examine the cri-
without help for renters. They opposed
past week. Both parties have a lot to sis; let’s put it on pause, while Demo-
another round of direct payments.
be proud of. But I really regret that crats were demanding more action.
And then when he produced legisla- Their starting offer for UI and rent re-
some on the Democratic side decided
tion, it didn’t have what was needed lief was zero, zero, and zero again.
that partisan Presidential politics were
The good news that transcends any of
more important than getting urgent and had poison pills, a provision that
the obstacles that we faced is that in
and noncontroversial relief out the would give all corporations—no matter
how egregious their behavior—immu- the final agreement, we will extend all
door much sooner to families who have
nity and nothing to help the unem- three Federal unemployment programs
needed this help badly.
The progress of this past week could ployed, no direct checks. created under CARES. We will provide
have happened in July or August or So the idea that this delay was $300 in weekly Federal unemployment
September or October. Senate Repub- caused by Democrats is ‘‘Alice in Won- benefits for the next 10 weeks. For fam-
licans were advocating for a package derland’’ history. It was caused by a ilies struggling to make ends meet,
just like this one all along in realtime. Republican majority that didn’t want this bill will cushion the blow.
I just wish our partners on the other to vote for the moneys desperately A new round of survival checks will
side had put political calculations needed by the American people. The soon be on the way—$600 per adult, an-
aside and worked with us to make this significance of this package, even other $600 for every dependent in the
happen a long time ago. though it is not as large or robust as it household. Many of us would have
However, with that said, I appreciate should be, should not be underesti- liked that to be higher, but at least
the earnest conversations of this past mated. We will deliver the second larg- this is the quickest way to get money
week. I want to thank the Democratic est Federal stimulus in our Nation’s into pockets of the American people,
leader, Speaker PELOSI, Leader MCCAR- history. Only the CARES Act will have sending their tax dollars right back
THY, as well as, in particular, Secretary been bigger—only the CARES Act, where they came from. Of course, as I
Mnuchin, who has been tireless in which I was proud to negotiate with said, it is not as much as many Demo-
these discussions throughout. Both Secretary Mnuchin. crats and some Republicans would have
sides, in both Chambers, have really In size and scope, this bill will exceed liked, and we hope that next year the
stepped up and worked hard to get this the Recovery Act passed in the after- same bipartisan support that emerged
done. math of the financial crisis. And once behind $1,200 stimulus checks will pro-
We will be moving forward with the this Federal relief bill is signed into vide even more assistance to working
start of the pandemic relief and full- law, Congress will have allocated well families.
year funding legislation for the Federal over $3 trillion in relief this year alone. For the first time ever during this
Government, as well, and I hope we can That is a historic figure to match a pandemic, Congress will provide $25 bil-
do this as promptly as possible. historic crisis. It will give the new lion in direct rental assistance to help
I suggest the absence of a quorum. President a boost—a head start—as he reduce the burden on Americans who
The PRESIDING OFFICER. The prepares to right our ailing economy. have fallen behind on their rent. We
dlhill on DSK120RN23PROD with SENATE
clerk will call the roll. The economy is in a deep, deep hole be- also extend a moratorium on evictions
The legislative clerk proceeded to cause of President Trump and the Re- to give our fellow citizens more time to
call the roll. publican Senate’s failure to act in a get back on their feet.
Mr. SCHUMER. Mr. President, I ask timely manner. For small business owners, we are
unanimous consent that the order for But this, at least, begins us getting providing businesses the opportunity
the quorum call be rescinded. the relief the American people need so to take another draw of the popular
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