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Trump suggests he could back a bigger coronavirus stimulus, top aide says he’s more optimistic about a deal

  • September 17, 2020

Democratic House committee chairs rejected the proposal Tuesday as party leaders call to inject at least $2.2 trillion into the coronavirus fight. Speaking to CNBC on Tuesday, House Speaker Nancy Pelosi, D-Calif., again opposed a more limited relief proposal.

In a statement Wednesday afternoon, Pelosi and Senate Minority Leader Chuck Schumer, D-N.Y., said they were “encouraged” by Trump’s tweet. They added that they “look forward to hearing from the President’s negotiators that they will finally meet us halfway with a bill that is equal to the massive health and economic crises gripping our nation.”

Negotiations over more aid to Americans collapsed last month despite the expiration of financial lifelines including an extra $600 per week unemployment benefit and a federal moratorium on evictions. While the U.S. job market has recovered as states gradually ease public health restrictions, millions of people still feel sharp pain with a jobless rate hovering above 8%. 

Pressure on officials in Washington to act has increased as they hurtle toward reelection fights in November. Some House Democrats have increasingly pushed Pelosi to relent and pass a smaller relief package than the party initially desired. 

Senate Republican leaders attempted to pass their own aid bill last week, both to put pressure on Democrats and to ease the burden on vulnerable GOP senators. Democrats blocked the legislation, which they said was inadequate to address the crisis. 

Trump’s tweet Wednesday, in which he pushed for “stimulus payments,” also showed the political benefit he sees in sending more relief before the election. The bill that failed in the Senate last week did not include a second round of direct payments to Americans. 

White House press secretary Kayleigh McEnany said Trump’s tweet referred to the need for a bigger relief package than the roughly $500 billion plan the Senate GOP proposed. 

Speaking to CNBC, Meadows did not outright support the bipartisan House bill. However, he called it a “serious thought for consideration.” 

“I think it at least provides a foundation for us to come back to the table,” he said. 

Meadows said he was willing to stay engaged in talks but wanted to see a deal happen within “a week to 10 days.” 

Aid to state and local governments has posed a stumbling block in negotiations. Democrats want more than $900 billion in relief for states and municipalities facing budget crunches because of the pandemic. The White House has pushed for $150 billion in new spending. 

The bipartisan House bill released this week would allocate $500 billion for those governments. However, Meadows opposed spending that much, saying, “hopefully that number is closer” to $250 billion to $300 billion. 

— CNBC’s Kevin Breuninger contributed to this report

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Article source: https://www.cnbc.com/2020/09/16/coronavirus-stimulus-update-trump-suggests-he-could-back-bigger-relief-bill.html

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