Senator Rand Paul (R-KY) is pushing back on the $48 billion dollar COVID bailout for businesses; Paul calls the bailout a “poor-targeted spending spree.”
Majority Leader Senator Chuck Schumer (D-NY) has scheduled a procedural vote for the bill this week.
From Fox News…
Paul takes issue with the proposal, which contains “taxpayer-funded grants to restaurants, minor league sports teams, gyms, yachts and limousines businesses and more,” because it is being introduced when COVID-19 is “no longer straining our economy,” he writes.
The senator argues that additional government spending will only help already-recovering industries at a severe expense to others. Inflation is continuing to hover near a 40-year high and Americans are feeling the pain at the gas pump and at the grocery store as consumer prices continue to rise.
“Congress cannot pass a $48 billion COVID poorly-targeted spending spree if we are truly concerned about inflation,” the letter continues.
Sperling has a deadline of Thursday to get back to the senator from Kentucky addressing his concerns.
Paul told FOX Business in an exclusive statement: “COVID-19 is over, and yet Congress is ready to spend $48 billion of borrowed money to bail out yacht and limousines businesses, minor league sports, and luxury gyms under the guise of pandemic relief.”
Paul shared the story on Twitter, saying “Now is perhaps the most inappropriate time to spend more taxpayer dollars on a poorly targeted spending spree while Americans struggle with the effects of price increases and supply chain issues…”