WASHINGTON, D.C. – U.S. Senator Bob Menendez (D-N.J.), a senior member of the Senate Banking Committee, released the following statement in response to Senate Republicans’ last-ditch efforts to undermine COVID-19 relief negotiations in order to limit the Federal Reserve’s ability to combat future economic crises:

“The holiday season reminds us to be kind, generous, and caring. But at the precipice of a deal to provide relief to American families, essential workers, and small businesses, Senate Republicans are now suddenly insisting that we limit the federal government’s ability to fight all future economic crises. The new limitations on the Federal Reserve that Republicans are pushing for would leave us with fewer tools to combat recessions that threaten Americans’ jobs, savings, and hope for a better future. This obstruction has to stop. Democrats will not choose between solving our present economic catastrophe and the ability to fight future downturns. We can, and should, do both for the good of our constituents and their families.”