A number of Republicans in the Senate are starting to raise concerns about the massive amount of money the U.S. has spent combatting coronavirus, the Daily Caller has learned.
The federal government has appropriated nearly $3 trillion in roughly six weeks for coronavirus relief and number of Republican Senators shared their concerns over the amount of money being spent, when asked by the Daily Caller. Many are saying they are encouraged to see states reopen their economies so that the borrowing from the federal government slows down.
“Congress took unprecedented action to provide emergency relief from this economic devastation to the tune of nearly $3 trillion. As we’ve seen, that relief can only go so far. In just the last five weeks, more than 30 million Americans have lost their jobs. Entire livelihoods have been shattered. Our deficit this year is projected to swell to nearly $4 trillion – an unprecedented level that we’re borrowing from the generations to come,” Texas Republican Sen. Ted Cruz told the Daily Caller.
“We cannot simply spend our way out of this crisis. I’m encouraged to see states begin re-opening the economy region by region, based on the science and public health guidance. Moving forward, as we help the American people safely return to work, my priority will be focused on helping the economy recover. We should start by continuing to waive every regulation that was waived during this crisis, and begin to repeal the most costly of the major regulations that have accumulated over the past decade. Regulatory relief, coupled with tax relief, will be critical to revitalizing our economy,” Cruz continued.
“There’s no question we can do a better job of tailoring these programs to help those most impacted by this pandemic and putting responsible guardrails around this funding,” Ohio Republican Sen. Rob Portman told the Daily Caller when asked if he was concerned with the amount of money being spent.
Montana Republican Sen. Steve Daines told the Daily Caller that not only should we be worried about spending, but that there needs to be an investigation into China’s role in the coronavirus outbreak. (RELATED: EXCLUSIVE: House Republicans Criticize Pelosi For Saying Trump’s WHO Cuts Are ‘Illegal’)
“I’m definitely concerned with the spending. We absolutely must cut regulations across the board to help the economy boom – less regulation, more innovation. In addition to investigating China’s role in the COVID-19 outbreak, I also think it’s critical we focus on bringing drug manufacturing and medical equipment jobs back to the U.S. from China and other countries,” Daines told the Daily Caller.
Pennsylvania Republican Sen. Pat Toomey also said the federal government is spending too much money to try and combat coronavirus, also adding that states should be focused on reopening their economies. (RELATED: EXCLUSIVE: Ted Cruz Urged Members To Pause Additional Spending In Senate GOP Phone Call)
“In the past two months, Congress spent nearly $3 trillion and authorized the Fed to lend well over $2 trillion more to stave off an economic collapse. This is more than one-quarter of our entire annual GDP,” Toomey told the Daily Caller.
“As a result, our national debt is about to hit $25 trillion, our deficit this year will be double the worst year of the financial crisis, and we are risking higher interest rates and inflation. Rather than yet another spending blowout, Congress should focus on re-opening our economy safely. Government spending can never be a substitute for a functioning economy,” Toomey continued.
Florida Republican Sen. Rick Scott’s office pointed out that the U.S. is on track to end the year with an excess of $25 trillion in federal debt, and criticized Speaker of the House Nancy Pelosi, who has been doing much of the negotiating. (RELATED: Senate Approves $484 Billion Coronavirus Phase 3.5 Bill)
“Nancy Pelosi wants to bail out state budgets and pensions of poorly-run states like New York, California and Illinois. The state of Florida has followed sound fiscal policies for decades and is well-positioned to handle this crisis without a bailout,” Scott’s office told the Daily Caller.
“Senator Scott laid out his priorities in any potential Phase 4 agreement, which include getting a handle on the federal deficit. This year’s federal budget deficit will be the largest in the history of the nation, and Senator Scott has been clear that any additional agreement needs to take concrete steps to bring spending under control,” Scott’s office continued.
The White House told the Daily Caller that they do not believe the federal government is bailing anyone out and did not mention a concern about the amount of money being spent. (RELATED: McConnell Says Senate Will Be In Session Monday After New Guidance — House Will Remain Out Of Session)
“The federal government is not bailing out anyone. As President Trump has said, we are going to continue to take bold, aggressive action to help those most impacted by this unforeseen enemy so that we emerge from this challenge stronger and with a prosperous and growing economy,” White House Deputy Press Secretary Judd Deere told the Daily Caller.
The Senate is now back in session and will work together with the White House on passing more legislation to help combat the coronavirus and help American workers struggling across the country.