The Limited Times

Now you can see non-English news...

Hope is reborn for a vast stimulus plan for the US economy

2020-10-09T18:56:52.664Z

After more than two months of negotiations marked by Donald Trump's about-face, the White House put $ 1.8 trillion on the table on Friday for a new economic stimulus plan, thus hoping for an agreement with the Democrats to three weeks of the presidential election. Read also: United States: "unlikely" that a new stimulus plan will be adopted before the election, according to Mitch McConnell Donal



After more than two months of negotiations marked by Donald Trump's about-face, the White House put $ 1.8 trillion on the table on Friday for a new economic stimulus plan, thus hoping for an agreement with the Democrats to three weeks of the presidential election.

Read also: United States: "unlikely" that a new stimulus plan will be adopted before the election, according to Mitch McConnell

Donald Trump called in a tweet to think

“big”

for this much-awaited aid by households and businesses facing financial difficulties caused by the coronavirus pandemic.

He opted for a

“revised”

economic support plan

, said his economic advisor Larry Kudlow, without giving further details.

The total amount of the offer proposed to the Democrats is 1.8 trillion dollars, according to information from the

Wall Street Journal

, significantly higher than the 1.5 trillion starting.

The White House's gesture was hailed on Wall Street, where stock indexes continued to advance.

By enlarging its envelope, the Trump administration hopes to be able to convince the Democrats, whose proposal is valued at $ 2.2 trillion.

But Republicans and Democrats look at each other doggedly, and with the approach of a particularly divisive election, each camp fears that the other takes credit for a deal reached hard.

"I hope that we will find an agreement quickly

,

"

Democratic House of Representatives President Nancy Pelosi said at a press conference on Friday.

It is

"half money, and half politics,"

said the one leading the negotiations against Treasury Secretary Steven Mnuchin.

This potential aid has become a major issue for the Republican camp, as the gap widens in the polls between Joe Biden, the Democratic candidate, and Donald Trump.

The latter, who is seeking a second term, is given a clear loser by most of the opinion studies.

The economic picture is not helping its affairs: nearly 11 million people are unemployed, a total of 25 million people have seen their income fall due to the pandemic and are surviving thanks to public aid.

An agreement "unlikely in the next three weeks"

Republicans and Democrats agree on certain topics, such as new checks for households, loans for the smallest businesses most affected, or aid for airlines, whose activity represents a tiny percentage of what it was before the pandemic.

They started to lay off en masse.

But the Republicans oppose a plan that would massively support local communities, and more particularly the states affected by the pandemic, many of which are governed by Democrats.

An agreement

"is unlikely in the next three weeks"

before the election, also warned Friday the leader of the Republican majority in the US Senate, Mitch McConnell.

"We need another aid plan but the approach of the election"

complicates the situation, and

"the differences of views (with the Democrats) on what is needed at this particular stage are very important "

has he said while traveling in his stronghold of Kentucky.

“Hopefully we can soon be able to come to a compromise.

I can't tell you exactly when this might happen, ”

he added.

He had proposed in early September a smaller program of 500 billion dollars, rejected by the Democratic senators.

Read also: United States: support for the economy in crisis, stake in a showdown in Congress

Talks between the Trump administration and the Democrats have been going on for more than two and a half months and have stalled for many weeks.

Donald Trump had aroused indignant criticism even in his camp on Tuesday by suddenly announcing the end of negotiations, postponing the granting of this aid until after the election.

Faced with the outcry, he tempered his remarks, referring to targeted measures for air transport and small businesses, and direct checks to households.

Since then, confusion reigns in his entourage, with contradictory comments on this future aid, between a vast plan and specific measures, which the Democrats do not want to hear about.

Source: lefigaro

All business articles on 2020-10-09

You may like

Life/Entertain 2020-10-20T00:27:50.495Z

Trends 24h

Business 2021-03-07T21:13:30.334Z

Latest

© Communities 2019 - Privacy