The Senate’s economic stimulus bill passed the lower house on Wednesday night, but only after the Senate voted down the lower chamber’s own version.
The lower house’s version, which would have extended unemployment insurance for four months, was defeated by a margin of 56 to 47.
The upper house’s bill, which included a six-month extension of unemployment benefits, was also defeated.
The Senate’s plan to pass the $US9 billion stimulus bill has also been defeated, with Labor senators voting down the proposal, and Liberal senators voting in favour of it.
What happens next?
The Senate is expected to debate the Senate’s budget on Wednesday, and the upper house will take a final vote on the legislation on Thursday.
The Federal Government will now seek to raise $US1.5 billion from the Reserve Bank, and has promised to raise that in the first quarter of next year.
But Labor has said that Labor’s plan will result in a deficit that will be “huge”, and that the Government will need more stimulus.
“We are asking for $US900 billion in stimulus and $US2 trillion in spending, which means that we will be spending $US800 billion less than the Coalition would have us do,” Labor senator Linda Burney said on Tuesday.
Topics:government-and-politics,economic-trends,wealth-and/or-gambling,government-or-politics.com.au,economy,jobs,business-economics-and the-jobs-industry,australia,federal-government,aesthetics,bureau-of-economic-analysis,financial-market-services,aotearoa-4860,brisbane-4000,brisbourn-4850First posted October 20, 2019 13:16:29Contact Jacqui Lambie