Why a Democrats-Only Bailout Bill Won’t Fly

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Now that I’ve noted the progressive goals for the next bailout bill, let me add that it’s unlikely a Democrats-only bill, loaded with those very same progressive goals, is likely to pass. And it’s because of conservative Dems. Ezra Klein makes the case:

The defecting Democrats look to be Blue Dogs — which is to say, somewhat conservative, generally vulnerable, Democrats — and members of the Black and Hispanic caucuses. A more liberal bill might get the latter two. It will lose 90 Republican votes. It won’t get the Blue Dogs. And you’ll lose a few dozen more Democrats who needed the bipartisan cover. My hunch is leadership is relying on market chaos to turn a few votes and trying to figure out the mixture of cosmetic changes and superficial giveaways that will push them over the finish line.

Which is to say, despite the intelligent commentary that suggests a radically different approach to the bailout bill might be wise, there’s a relatively small chance we will get a radically different bill. We’re more likely to get a bill that the House leadership has tinkered with enough — throwing in a progressive goal here, adding an earmark/sweetner there — to get 15 more votes.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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