Republican Kentucky Sen. Rand Paul on Tuesday explained why he will vote against the next coronavirus funding bill, citing the massive debt Congress is creating.
“I understand the hardships of senators returning from around the country, so i have not invoked the senate rules to demand a recorded vote. I did return today, though, so that history will record that not everyone gave in to the massive debt Congress is creating,” Paul said in a speech on the Senate floor.
“The one thing that will get our economy going again: reopening! We can’t continue printing bailout money. It’s not a lack of money that plagues us. It’s lack of commerce. Until we reopen our economy, job losses will continue,” Paul tweeted.
“I believe there exists too much danger for nearly half-a-trillion-dollar spending bills being passed without Congress being in session. A handful of individuals in leadership shouldn’t have this much power. All of Congress should weigh in. They should return at once,” Paul said in another tweet.
Paul’s comments come as Congress and the White House reached an agreement Tuesday on the latest coronavirus bill aiming to help people and businesses across the country. (RELATED: Congress, White House Reach Agreement On Latest Coronavirus Bill)
The legislation includes roughly $470 billion in relief funds — $310 billion will go to the Paycheck Protection Program (PPP), which White House officials told the Daily Caller will feature $60 billion carved out for institutions with less than $50 billion in total assets. (RELATED: Rand Paul Volunteers At Local Hospital To Fight Coronavirus)
Of that group, $30 billion is reserved for companies with less than $10 billion in assets, while the remaining $30 billion will be attributed to companies with assets ranging between $10-50 billion. Furthermore, the $60 billion reserved for the Economic Injury Disaster Loan program (EIDL) will be split into loans ($50 billion) and grants ($10 billion).
Additionally, the bill includes $75 billion in relief for hospitals and $25 billion for more testing. Before the agreement was announced, President Donald Trump sent out a tweet with his approval of the bill, urging Congress to pass it.
The legislation later passed the Senate and will now go to the House for a vote.