The Republicans keep inserting razor blades into the apple:
“Negotiations moved at a rapid pace late into Friday night and Saturday as congressional leaders race to finalize a long-awaited Covid-19 relief deal, but they are struggling to resolve a major sticking point over the Federal Reserve’s power to intervene in the US economy.
“Talks are now intensely focused on whether Senate Minority Leader Chuck Schumer and GOP Sen. Pat Toomey can resolve the dispute over the Federal Reserve’s emergency lending authority — and the fate of a deal, and whether one can be approved before government funding expires Sunday night, hangs in the balance.”
So what’s the issue, you ask?
“The big hangup is a dispute over whether to rein in the Federal Reserve’s emergency lending authority. Republicans argue that the emergency lending program created under the March CARES law needs to be wound down as envisioned by that law, saying leaving it open would amount to a slush fund for the incoming Biden administration.
“But Democrats argue that the authority is essential to continue to prop up the economy and say that the provision — pushed chiefly by Toomey — would tie the hands of President-elect Joe Biden’s team.”
“How can we knee-cap the next administration,” amply be-chinned Mitch McConnell did not wail, “if you don’t let us have our way?”