(BLOOMBERG) – Odds of another round of fiscal stimulus for the U.S. economy dropped on Thursday as senators headed out of Washington for the weekend following a partisan split over a slimmed-down package proposed by Republicans.
The Senate voted 52-47 to advance to the floor a bill introduced by Senate Majority Leader Mitch McConnell, short of the 60 needed to bring it up. Democrats were united in blocking the legislation.
Estimated at roughly $500 billion to $700 billion, the bill was intended to target the most pressing areas for help – revived supplemental unemployment insurance benefits and extended aid for small business, in particular. It was a fraction of the $2.2 trillion backed by Democrats and even below Republicans' previous $1 trillion.
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Democratic leaders and the White House broke off negotiations on a compromise more than a month ago, and with nothing further scheduled, chances are rising that there will be no further aid before the November election. A number of GOP senators offered pessimistic comments after the Thursday vote about the likelihood of a revival in talks before the election.