.MaddowBlog: Cuomo's shot across McConnell's bow: 'I dare you'
"It's your suggestion, Senator McConnell? Pass the law; I dare you. And then go to the president and say, 'Sign this bill allowing states to declare bankruptcy.' You want to send a signal to the markets that this nation is in real trouble? You want to send an international message that the economy is in turmoil? Do that. Allow states to declare bankruptcy legally because you passed the bill. It will be the first time in our nation's history that that happened.
This is quickly shaping up to be one of the most important political fights of the season, so let's take a dive into the debate with a Q&A.By all appearances, yes. Most legal scholars agree that states can default on their debts -- there are even some historical precedents for this -- but they lack the authority to declare bankruptcy. It would require new statutory powers, which Congress would have to approve.He might try, but if so, he'd almost certainly fail.
So if the bankruptcy option isn't going to work out, Congress will have to rescue states with a round of economic aid, right? That would make sense, but McConnell and several other prominent Republicans are insisting that they have no intention of making the necessary investments, even as Democrats push for the aid., state and local governments are facing catastrophic conditions -- not because of mismanagement on their part, but because of the pandemic.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
New York state sees drop in daily deaths, Cuomo talks reopening strategyNew York added another 367 people to the coronavirus death for a total of 16,966, not including presumptive deaths, Gov. Andrew Cuomo announced on Sunday.
Consulte Mais informação »
Governor Andrew Cuomo discusses phases of reopening New YorkThe governor told businesses to 'be creative' in developing plans to reopen with continued mitigation practices in place.
Consulte Mais informação »
Cuomo Details Plans For Reopening New York, Says NYC Needs ‘Summer Activities’ Open For ResidentsNew York will undergo a two phase plan to reopen businesses, Cuomo said.
Consulte Mais informação »
Cuomo on coronavirus stay-home sacrifices: 'What you're doing is actually saving lives'New York Gov. Andrew Cuomo acknowledged frustration with coronavirus stay-at-home orders but compared them with past sacrifices during national crises.
Consulte Mais informação »
Cuomo Says New York Is ‘On The Downside Of The Mountain’New York Governor Andrew Cuomo said that the rate of new coronavirus infections in his state is continuing to decline, falling to levels not seen since last month by skleb1234
Consulte Mais informação »