Stimulus Package At An Impasse
The COVID-19 stimulus relief package appears to be at an impasse, though negotiators seemingly made some positive edits to the bill on both sides.
President Trump authorized Treasury Secretary Steve Mnuchin, the chief White House negotiator, to increase the budget beyond $1.8 trillion but not as high as the $2.2 trillion the Democrats are requesting. Meanwhile, Senate Majority Leader Mitch McConnell says Republicans will not support anything beyond $1.8 trillion. The President countered by saying he is ready to sign “a big beautiful stimulus” and will convince Senate Republicans to back him on a more expensive bill.
One of the major hold-ups, says Trump, is Speaker Nancy Pelosi’s unwillingness to budge from the $2.2 trillion Democrat request. Why? “Because she doesn’t want me to have a win before the election,” he says. Here’s more from ClearValue Tax.
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