The White House has had negotiations with the Democrats on a new bill of at least $2 billion. Negotiations on the next stimulus bill continue to be confusing, with three of the four negotiators close to making a semi-agreement.
President Donald Trump has changed his stance and made a U-turn in recent days in support of a stimulus bill larger than his party supports, the $1.8 billion bill that was submitted by his Secretary of the Treasury, Steven Mnuchin.
Democrats have insisted that the support package should be between $2 billion and $3.5 billion.
Second Stimulus Check – Negotiations
Who doesn’t agree?
Mnuchin is in negotiations with Pelosi about a bill that would cost about $2 billion. But Senate Majority Leader Republican Mitch McConnell has abandoned them altogether, telling the press on Thursday that he “would not take such a large package to the floor.
A “small” package
McConnell will attempt to pass a much smaller $500 billion package through the Senate. While the President is of the opposite opinion.
Trump said Thursday he is “ready to sign a big, beautiful stimulus package. I want it to be big, I want it to be bold.
Is there anything new about these new stimulus bills?
Yes, a new round of stimulus checks that could reach $1,200, as well as the extension of unemployment insurance. It is estimated that Republicans want support at $400 per week while Democrats have requested $600 per week.
Funding for businesses is also likely to be available. All parties agree on these points. The current disagreements are largely over state, local and education funding.
All eyes are on
We must be alert to the results of the Mnuchin and Pelosi meeting and the proposal that McConnelll will bring to the Senate next week. So everyone be on the lookout.
Why is the week of October 20 key in the discussion of stimulus checks and the new economic package?
Starting next Monday and about two weeks before the elections, the discussion in Congress could intensify.
With less than two weeks to go before the elections, the Senate would vote on a new stimulus plan starting next Monday that is far removed from the proposals of the Democrats and President Donald Trump himself.
The spokesman for the Republican majority in the Senate, Mitch McConnell, announced on Tuesday that he is preparing to vote as of next week on new stimulus legislation estimated at some $500 billion.
It is striking that nowhere is there any mention that the bill includes a second round of stimulus checks and unemployment insurance, two priority issues for the Democrats, and, for the past few days, for the president as well.
When Senators return to Congress on Monday, they will examine “targeted” legislation that has not resulted from a conversation with Democrats or the President with funds for the Paycheck Protection Program (PPP).
The reports available at the time also refer to an issue that McConnell’s counterpart in the House, Nancy Pelosi, has already expressed her opposition to: provisions against liability for lawsuits for the handling of pandemic.
“Unless the Democrats block this aid to workers, we will have time before we proceed as planned with the pending Supreme Court nomination as soon as it is reported by the Judiciary Committee,” the Senate leader said in reference to the hearings being held to evaluate Judge Amy Coney Barrett.
While McConnell insists on his economic rescue plan in apparent insubordination to Trump’s call, the president has been promising to raise the amount of $1.8 billion for a new stimulus package, an issue he has insisted on his Twitter account and in interviews with FOX News this week.
The President’s measure includes minimum stimulus checks of $1,200 and $1,000 per dependent up to a maximum of three.
White House spokespersons such as Economic Advisor Larry Kudlow say that “if Spokesperson Pelosi wants a deal, we can bring together enough Republicans to make a deal. Democrats passed $2.2 billion in legislation earlier this month without Republican endorsement, and have held firm to accept no less than that amount. Everything else remains to be seen…