Politicians are averting stimulus package

Published:

On: Nov 2020

According to the latest news American politicians are behaving like small children by not approving a brand-new stimulus bill that could ultimately help people of the United States whose income has been diminished by the COVID-19 pandemic, said by Chase & Co Chief Executive of JPMorgan, Jamie Dimon. He also said that the Childish behavior of American politician is nothing but an impasse between Democrats as well as Republicans over how much extra spending should be actually authorized.

He said that the two parties of the American politician should divide the difference between the quantities they need to devote to COVID-19 relief. Just get it completed, while declining to criticize one side over the other. The problem came up again in Congress because the Senate Democratic leader of the United States Chuck Schumer said that he and the House of Representative Speaker Nancy Pelosi had invited the majority leader of Senate Mitch McConnell and other Senate Republicans to bipartisan discussions on relief law.

As per the newly issued report, Mr. McConnell said that Congress should target for recent agreement on products where there is small disagreement. But he criticized Democrats of the United States of America for banning earlier Senate Republican efforts to finalize spending package of around $500 billion, which the US democrats have named inadequate.

Mr. Dimon also administered higher rate of taxes in order fud for stimulus spending, but also added that gains have to be performed in a way that does not hamper the economic growth of the country. He further told that taxing my own income more, that does not hamper the growth of our economy. Whereas, taxing capital generation over period, impacts growth and there we should have a competitive international tax system for our businesses.