Senate Majority Leader Mitch McConnell, R-Ky., told “Bill Hemmer Reports” Wednesday that he has no plans to pass legislation to provide additional federal funding to state and local governments who he said are trying to “take advantage” of the coronavirus crisis to get help with their ballooning deficits.
“We are not interested in revenue replacement for state governments,” McConnell said. “We’re interested in trying to help them with anything related to the coronavirus … [but] we are not interested in solving their pension problems and all these other things that they would like for us to finance.”
Earlier Wednesday, McConnell announced that he is open to allowing states to declare bankruptcy rather than sending additional federal money to governors who have been imploring Washington for urgent fiscal help.
“What I’m saying is, we will take a pause,” McConnell told Bill Hemmer. “We’re gonna wait at least until May the 4th … before we provide assistance to state and local governments who would love for us to borrow money from future generations to make sure that they have no revenue losses.