McConnell rules out passing House bill on $2K relief payments

Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments.

Senate Majority Leader Mitch McConnell on Wednesday closed off chances that the Senate would pass anytime soon a House bill that would give most Americans $2,000 stimulus payments.

The Kentucky Republican said the House legislation, approved in a bipartisan vote Monday, “has no realistic path” to quick passage in the Senate and that it falls short of the demands of President Donald Trump. He again blocked an attempt by Democratic leader Chuck Schumer to adopt the House bill to increase the payments to $2,000 from the $600 by unanimous consent.

CORONAVIRUS IMPACT: ADDITIONAL COVERAGE
Rathi Murthy

Rathi Murthy is the Chief Technology Officer at Varo Bank, the first nationally chartered all-digital consumer bank in the United States. In this role, she leads the company's end-to-end technology strategy, overseeing the design and development of secure, scalable, and AI-powered digital banking platforms. Her leadership is instrumental in advancing Varo's mission to build inclusive, accessible, and real-time financial solutions for millions of consumers.

A seasoned technology executive, Rathi brings over 25 years of experience leading innovation and digital transformation at some of the world's most recognized technology and financial services companies. Prior to joining Varo, she served as Chief Technology Officer and President of Expedia Product & Technology at Expedia Group, where she modernized the company's global travel infrastructure, integrating AI-driven personalization, modular architecture, and advanced cloud capabilities across its family of brands.

Earlier, she held executive leadership roles at Verizon Media and Gap Inc., where she led enterprise cloud migrations, e-commerce platform evolution, and large-scale product delivery initiatives across global markets.

Rathi also served as Senior Vice President and Chief Information Officer of Enterprise Growth at American Express, where she was responsible for the technology strategy and operations of the Serve platform and a suite of prepaid products including Bluebird. 

Rathi's early career includes engineering leadership roles at eBay, Yahoo!, Sun Microsystems, and WebMD, where she consistently delivered improvements in platform stability, operational agility, and customer experience.

In addition to her executive work, Murthy is a board member at PagerDuty, Inc., a leader in digital operations management, and serves as an External Expert Advisor to the University of San Francisco's Board of Trustees Committee on Information Technology Strategy. She is also a regular speaker at industry events and leadership forums, offering thought leadership on topics such as fintech innovation, integrating AI, platform transformation, and executive technology leadership.

Follow Rathi Murthy on LinkedIn and X

guy_baker_high_res.jpeg

Guy Baker, CFP, Ph.D., is the founder of Wealth Teams Alliance in Irvine, California.

He is a member of the Forbes 250 Top Financial Security Professionals list and is author of  "Maximize the RedZone," a guide for business owners, as well as "The Great Wealth Erosion," "Manage Markets, Not Stocks" and "Investment Alchemy." He received the 2019 John Newton Russell Memorial Award for lifetime achievement in insurance.

The Senate instead will work on combining the stimulus payments with measures on election integrity and rolling back social media liability protections, he said. That responds to all three issues Trump has said he wants, but a bill combining them likely will alienate enough senators in both parties to leave prospects for bigger stimulus payments dead in the Senate.

mcconnell-mitch-senate-mask-lights.jpg
Senate Majority Leader Mitch McConnell, a Republican from Kentucky, center, wears a protective mask while walking through the U.S. Capitol in Washington, D.C.
Ting Shen/Bloomberg

“The Senate is not going to be bullied into rushing out more borrowed money into the hands of the Democrats’ rich friends who don’t need the help,” McConnell said. The House bill would raise the income cutoff to receive a payment.

The clash over the payments also is entangling another piece of year-end business in the Senate — a vote to override Trump’s veto of a crucial $740.5 billion defense policy bill. Senators Bernie Sanders and Ed Markey said they will continue to delay the defense legislation vote unless McConnell relents and allows a vote on a standalone bill on the bigger stimulus checks.

“We are saying to Mitch McConnell, to allow the United States Senate to do what it’s supposed to do, and that is the vote,” Sanders told reporters. “The House passed the bill, it’s over here right now. Do you want to vote against it? Then vote against it.”

Pennsylvania Republican Senator Pat Toomey later blocked an attempt by Sanders to call up the House bill for a roll call vote.