Down to the wire: Pelosi, Mnuchin talk pre-election stimulus deal

US House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin talked for 53 minutes Monday, but it’s unclear whether both sides will agree to a stimulus package in time for Election Day.

Time is running out for a US stimulus deal before Election Day, House Speaker Nancy Pelosi has made clear [Manuel Balce Ceneta/AP Photo]

United States House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin “continued to narrow their differences” in a 53-minute telephone conversation on Monday about a fresh coronavirus relief aid package, Pelosi’s spokesman wrote on Twitter.

Pelosi hopes that by the end of Tuesday there will be “clarity” on whether a coronavirus stimulus bill can be passed before the November 3 elections, her spokesman, Drew Hammill, wrote. He said Pelosi and Mnuchin agreed to talk again on Tuesday, and staff working on the matter will continue “around the clock”.

Pelosi, the top elected US Democrat, said on Sunday that differences remained with President Donald Trump’s administration on a wide-ranging coronavirus relief package, but that she was optimistic legislation could be pushed through before Election Day. But, she said, an agreement would have to come through by the end of Tuesday to meet that deadline.

The White House has proposed a $1.8 trillion stimulus plan to help Americans struggling with the economic ravages of the coronavirus pandemic. Pelosi said that offer fell short in a range of areas, including tax credits for poor people, aid to state and local governments, worker protections and rent help. She has stuck to her demand for a $2.2 trillion aid and stimulus package.

Earlier this year, the US Congress passed $3 trillion in coronavirus relief, and many of the Republicans who control the Senate are loath to pass another giant stimulus bill. Senate Majority Leader Mitch McConnell, a Republican, said on Monday the Senate would vote on Wednesday on a $500bn proposal to target specific areas of need.

McConnell said the Senate would also have a separate vote on Tuesday on a new round of funding for the Paycheck Protection Program, a popular programme that was launched earlier in the pandemic with bipartisan support to provide loans to small businesses.

But Senate Democrats have been holding out for a larger overall aid package. Senate Democratic Leader Chuck Schumer called the Republican plan “emaciated”, saying it abandons state and local governments in need and has inadequate funding for unemployment benefits. Senate Democrats blocked similar proposals last month.

McConnell, in remarks to the Senate, excoriated Pelosi for what he said had been her “all or nothing” position on approving more coronavirus aid. “The speaker’s Marie Antoinette act needs to end,” McConnell said.

Source: Reuters


More from Economy
Most Read