Pelosi, Mnuchin again push for stimulus deal

Washington: Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are trying one final time to ease a bitter standoff on Capitol Hill over a pre-Election Day package to provide relief to millions of Americans reeling from the damaging economic crisis.

While most on Capitol Hill are deeply skeptical a deal can be reached, Pelosi and Mnuchin have aligned interests, reports CNN: The speaker is facing growing pressure from vulnerable House Democrats, particularly freshmen, to cut a deal immediately while President Trump wants a legislative accomplishment to tout in the final weeks of the intensely fought campaign.

The Democrats unveiled a $2.2 trillion plan Monday, down from the $3.4 trillion measure that passed the House largely along party lines in May and has since been ignored by the GOP-led Senate.

That price tag for the bill is still far too high for the White House and Senate Republicans, who tried to advance a $500 billion plan this month that was blocked by Democrats over concerns it didn’t go far enough.

The pared-back legislation would include another round of $1,200 stimulus payments to certain individuals under an income threshold, more money for the PPP for small businesses, more aid to the USPS, $75 billion for coronavirus testing and contact tracing, as well restoring the $600 a week additional unemployment assistance that expired in July. After pushing a plan for roughly $1 trillion in state and local aid in the last proposal, an idea roundly rejected by the White House, Pelosi and Democrats are now proposing $436 billion for state, local and tribal governments over one year.

Image courtesy of (Photo courtesy Atlantic)

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