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Mnuchin and Pelosi are estranged when it comes to a deal for an economic stimulus, even though they agree to fund the government.

2020-09-07T18:48:19.601Z


Treasury Secretary Steven Mnuchin said he and President Donald Trump continue to push for a tighter package than the Speaker of the House of Representatives, Na ...


In the US 42.6 million asked for unemployment benefits 0:44

(CNN) -

The Trump administration and House Democrats have agreed in principle to fund the government after the end of the month, but they don't appear to be close to agreeing on additional stimulus for the coronavirus.


Speaking Sunday, Treasury Secretary Steven Mnuchin said he and President Donald Trump continue to push for a tighter package than what House Speaker Nancy Pelosi is demanding.

"Where we are really stuck is on certain policy issues, but the most important thing is on the top line," Mnuchin said on Fox News Sunday, referring to the sum total of a stimulus bill.

  • Initial US Unemployment Benefit Claims Above 1 Million Again

"Let's do a more specific bill now," he continued, saying that Republicans planned to move forward on that package later this week.

“If we need to do more in 30 days, we will continue to do more.

But let's not hold back American workers and businesses. '

Mnuchin's comments come amid stalled stimulus talks between top congressional leaders and White House officials.

Negotiations between Pelosi, Senate Minority Leader Chuck Schumer, and top White House officials failed nearly a month ago and still haven't made much progress since then.

Democrats are pushing for a multi-trillion dollar bill with funding for schools, rent subsidies, healthcare providers and small businesses.

Meanwhile, the Senate Republican leadership has been working for weeks behind the scenes to build an internal consensus on a reduced or "narrow" proposal that would include funding for education, small businesses, an improved and reduced federal unemployment benefit and liability protections.

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If US subsidies end, will there be another stimulus package?

1:20

The ongoing discussion has led to an increasingly pessimistic view of whether another aid package is possible on Capitol Hill, following the $ 2.2 trillion CARES Act passed in March.

When asked why Trump hasn't invited Pelosi and Schumer to the Oval Office for a chat, Mnuchin objected.

"The president constantly has not only his economic team in the Oval Office, but now Mark Meadows and I have been on the phone with Mitch McConnell and Senate Republicans every day," he said.

"Any legislation requires the support of both parties."

Mnuchin and Meadows, the White House chief of staff, have repeatedly rejected the Democratic top line and lobbied to move a smaller-scale package consisting mainly of areas where there is at least one front-line bipartisan agreement.

Pelosi and Schumer have refused, chastising Republicans for underestimating the scale of the need created by the worst pandemic in a century.

During an interview Sunday on MSNBC's "AM Joy," Pelosi blamed Republicans and the Trump administration for the lack of action on a stimulus bill.

"We are not doing anything.

Now, could we have saved all those people?

Not all, but many.

The number of people who have been infected has grown by the millions, "Pelosi said, adding that a House Committee will take action this week on a bill and then vote.

"We have to make sure the public knows how we can solve this and why the administration is getting in the way of squashing the virus," he said.

The stalled negotiations do not appear to extend to government funding, which expires at the end of September.

Mnuchin said he and Pelosi agreed to present a resolution this week that would fund the government, although specific details have yet to be worked out.

"We have not agreed on the specific details, but my expectation is that it will be until the beginning of December," he said.

"No one wants to see a government shutdown."

The content of the government's interim funding measure, known as an ongoing resolution, and its duration remain the subject of discussion between the Trump administration and Democrats.

Mnuchin predicted that the unemployment rate would be at pre-pandemic levels in early 2021, if the president wins a second term.

"The president is going to lower it to 3% or 4% where it was before all this at the beginning of next year when he is re-elected," he said.

But the US job market remains in a deep hole during the ongoing pandemic, and the recovery is losing some of its momentum.

  • Trump Details Possible Executive Measures If Congress Fails To Agree On Coronavirus Aid Package

US employers added 1.4 million jobs in August, a slowdown in job growth since the beginning of this summer - employers added 1.7 million revised jobs in July and 4.8 million jobs in June.

The unemployment rate fell to 8.4% from 10.2% in July, marking the first time the unemployment rate has fallen below 10% since March.

The United States continues to lose 11.5 million jobs since February, and millions of families need benefits to make ends meet as Congress continues to discuss the next stimulus bill.

Mnuchin promised that the president would take steps to address the mounting national debt if he was victorious in November.

"I think that if the former vice president were elected he would have socialist economic policies that would take the debt out of control," he said about the Democratic candidate Joe Biden.

However, debt has continued to expand under Trump, even after his 2017 tax cut that added about $ 1.5 trillion to debt.

The U.S. debt is projected to exceed the size of the nation's economy next year, the first time federal debt could be greater than U.S. gross domestic product since 1946, the Congressional Budget Office said. .

"There is no question in a second term, once the economy is back, we will focus on this issue," Mnuchin said.

Subsidies

Source: cnnespanol

All news articles on 2020-09-07

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