Coronavirus stimulus: Pelosi and Mnuchin agree to restart relief negotiations
Treasury Secretary Steven Mnuchin and Spokeswoman Nancy Pelosi (D-CA) both confirmed that they have agreed to resume talks that have been in a stalemate for nearly two months.
"The president and I want more support," Mnuchin said in his testimony to the Senate Banking Committee on Thursday. "I've talked to Speaker Pelosi about the CR probably 15 or 20 times in the past few days, and we've agreed to keep discussing the CARES law."
Steven T. Mnuchin, Secretary of the Treasury, during the Senate Banking, Housing, and Urban Affairs Committee hearing to consider the CARES Act quarterly report to Congress on September 24, 2020 in Washington, DC. (Photo by Toni L. Sandys-Pool / Getty Images)
Pelosi also confirmed that stalled negotiations could resume soon.
"Hopefully we will come to the table with you soon and show you where our money would not be spent," she told reporters on Thursday.
Pelosi and Senate Minority Chairman Charles Schumer (D-NY) lead the Democratic side of the negotiations while White House Chiefs of Staff Mark Meadows and Mnuchin lead the Republican side after McConnell took the GOP side of the negotiations to the White House ceded August.
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After an emergency measure to extend federal funding was passed on Tuesday evening, the two parties are expected to return to the negotiating table, but disagreements persist over the price tag and key provisions of the Aid Act.
The Democratic Plan passed in May - the HEROES Bill - was originally valued at over $ 3 trillion but was later cut down to $ 2.2 trillion. The Republicans' original proposal was worth $ 1 trillion, but their more recent proposal, which was rejected in the Senate, was worth just $ 300 billion.
"I haven't heard anything back yet"
U.S. House Speaker Nancy Pelosi (D-CA) and Senate Minority Chairman Senator Chuck Schumer (D-NY) speak to press representatives after meeting Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows the US Capitol August 7, 2020 in Washington, DC. (Photo by Alex Wong / Getty Images)
The White House expressed support for a $ 1.5 trillion center stimulus proposal put forward by a non-partisan group of House members, named the problem solver caucus, and urged Republicans to lower the price of their $ 300 billion Dollar proposal to increase, the president tweeted: for the much higher numbers. "
The proposal, put forward by a group of 25 Democrats and 25 Republicans, includes provisions such as aid to small businesses and schools, a second round of economic reviews, an increase in supplementary unemployment benefits and electoral assistance.
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When asked why the Republican Party can't choose a higher-priced package, Mnuchin said it should focus on the "areas of support" rather than the size of the bill.
"It's less about how high the absolute numbers are," said Mnuchin. "Let's pass things on that we can quickly agree on and we can always come back and do more."
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At the same time, the Democrats are sticking to their last price of $ 2.2 trillion and have said the middle ground proposal of $ 1.5 trillion is not enough.
"We cut a trillion dollars on our $ 3.4 trillion bill and then offered to meet the Republicans halfway," Pelosi said Thursday. "We still haven't heard of it."
Denitsa is a writer for Yahoo Finance and Cashay, a new personal finance website. Follow her on Twitter @denitsa_tsekova.
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