Fight over Fed powers stalls $900 billion aid plan
WASHINGTON (AP) — An arcane battle over emergency Federal Reserve powers is frustrating efforts to lock down an agreement on an almost $1 trillion COVID-19 economic relief package.
The impasse is just the latest stumble in a partisan, monthslong battle over COVID-19 relief, and feelings hardened as the Senate congregated for a weekend session. Lawmakers on both sides said the sticking point was a provision by Republican Sen. Pat Toomey of Pennsylvania that would curb emergency Federal Reserve powers.
Republicans are insisting on the Toomey plan, while Democrats are adamantly against it. A compromise was proving elusive.