Bulletin
Investor Alert

New York Markets Open in:

May 19, 2022, 2:33 p.m. EDT

Senate votes against advancing $48 billion aid package for restaurants, other businesses

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    RBOB Gasoline Continuous Contract (RB00)

or Cancel Already have a watchlist? Log In

By Victor Reklaitis

The Senate on Thursday voted against a motion to proceed on a $48 billion aid package aimed at restaurants, gyms, minor league sports teams and other businesses still hurting due to the COVID-19 pandemic.

There were 52 votes in favor and 43 against, in a measure of how U.S. lawmakers are leery of some spending as Americans deal with high inflation. There needed to be 60 votes to end debate and advance the aid package to a separate vote on its passage.

Ahead of the vote, Senate Minority Leader Chuck Schumer urged his colleagues to support the aid.

“Two years after the start of COVID, our country has come very far, but it would be a dreadful mistake to think the work is done,” the New York Democrat said in a floor speech.

“Today, the Senate should vote to move forward to give America’s restaurants, local gyms, minor league teams and other small businesses a much-needed lifeline.”

Republican Sen. Rand Paul of Kentucky blasted the package before the voting.

“Democrats need to wake up and realize that dumping more money in the economy is simply pouring $5-a-gallon gas /zigman2/quotes/210286597/delayed RB00 -3.26% on an already out-of-control fire,” Paul said in a floor speech.

On Tuesday, fresh data on retail sales showed that restaurant sales climbed a healthy 2% last month .

From MarketWatch’s archives (September 2021): ‘It feels like they just flipped a coin’: Restaurants struggle after missing out on bailout funds

And see: Restaurants wait for chance to tap into $28.6 billion relief fund: ‘We will be one of the first ones in line’

/zigman2/quotes/210286597/delayed
US : U.S.: Nymex
$ 3.60
-0.12 -3.26%
Volume: 1,527
June 30, 2022 3:26a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.