Mnuchin

White House Open to Bigger Stimulus Bill as Mnuchin, Pelosi Talk

(Bloomberg) — The White House shifted tack on Thursday, signaling that the administration is again leaning toward a large-scale stimulus bill after House Speaker Nancy Pelosi pushed back on the idea of individual measures for parts of the economy hit by the Covid-19 crisis.

Treasury Secretary Steven Mnuchin told Pelosi in a 40-minute call that President Donald Trump wants agreement on a comprehensive stimulus package, according to Drew Hammill, a Pelosi spokesman.



House Speaker Nancy Pelosi Holds Weekly News Conference


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House Speaker Nancy Pelosi Holds Weekly News Conference

Nancy Pelosi at the Russell Senate Office Building in Washington, D.C., on Oct. 8.

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Photographer: Stefani Reynolds/Bloomberg

Meanwhile, White House spokeswoman Alyssa Farah said, “we’ve made very clear we want a skinny package,” though she later clarified that position, telling reporters the administration is “open to going with something bigger.” She reiterated opposition to the $2.2 trillion plan from House Democrats.

Prospects for coming to an agreement have proved volatile since Trump pulled his negotiators out of talks on a comprehensive package on Tuesday.

Stocks, too, have proved volatile, with airline shares rising and falling on shifting indications of the potential for a separate aid package for the industry. The broader S&P 500 Index climbed for a second session Thursday, after a tumble Tuesday, when Trump pulled his negotiators from stimulus talks.

Another Call

Mnuchin and Pelosi held a follow-up call Thursday afternoon with House Small Business Committee Chairwoman Nydia Velasquez and Financial Services Committee Chairwoman Maxine Waters about small businesses and access to capital.

The negotiations are proceeding against a frenzied backdrop, with the president recuperating from Covid-19 and the final stretch of the election campaign under way. Pelosi and Trump publicly questioned each other’s ability to perform their jobs on Thursday.

Read More: Pelosi and Trump Question Each Other’s Mental Faculties

The House speaker

Pelosi, Mnuchin speak about relief bill

U.S. Treasury Secretary Steve Mnuchin speaks during a news conference to announce the Trump administration’s restoration of sanctions on Iran, at the U.S. State Department in Washington, September 21, 2020.

Patrick Semansky | Pool | Reuters

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke about a broad coronavirus stimulus plan Thursday, capping another day of jumbled efforts in Washington to inject more aid into a floundering economy. 

Pelosi and Mnuchin had a 40-minute afternoon phone conversation about “whether there is any prospect of an imminent agreement on a comprehensive bill,” the speaker’s spokesman Drew Hammill said in a tweet.

Hammill said Mnuchin “made clear” Trump had interest in finding agreement on a comprehensive relief package — generally considered one that would address a range of issues including jobless benefits, direct payments, state and local government relief, and aid to airlines to cover payrolls. 

Pelosi pointed out comments from White House communications director Alyssa Farah, who on Thursday afternoon cast doubts on Trump’s desire to craft broad legislation. Farah told reporters the White House wants to address stimulus checks, small business loans and an “airline bailout,” but not as “part of a larger package.” 

The speaker would take Mnuchin’s word that Trump wants a broad proposal, Hammill added. 

“The Speaker trusts that the Secretary speaks for the President,” he wrote. 

Later Thursday, Farah told reporters “we’re open to going with something bigger.” But “we’re not going to operate from the $2.2 trillion that the speaker laid out,” she said. 

The developments Thursday afternoon continue a confusing week of back-and-forth between the Trump administration and Pelosi as the sides make a last-ditch push to send more aid to Americans before the 2020 election. Barring a quick resolution, it appears doubtful Congress can pass another relief bill before Nov. 3 even

House Democrats to Pass Their Own Stimulus Bill Despite Ongoing Talks with Mnuchin

Speaker of the House Nancy Pelosi indicated on Thursday that the Democratic-led chamber will move to pass their own $2.2 trillion coronavirus stimulus package, despite ongoing negotiations with the Trump administration and Republicans’ disapproval of the legislation they plan to approve.



a group of people posing for the camera: Speaker of the House Nancy Pelosi (D-CA) arrives for her weekly news conference in the House Visitors Center at the U.S. Capitol on October 1 in Washington, DC. Pelosi met with Treasury Secretary Steven Mnuchin on Wednesday in an unsuccessful effort to negotiate with the Trump Administration on coronavirus economic relief legislation.


© Photo by Chip Somodevilla/Getty
Speaker of the House Nancy Pelosi (D-CA) arrives for her weekly news conference in the House Visitors Center at the U.S. Capitol on October 1 in Washington, DC. Pelosi met with Treasury Secretary Steven Mnuchin on Wednesday in an unsuccessful effort to negotiate with the Trump Administration on coronavirus economic relief legislation.

The California Democrat, though more optimistic on the prospects for a potential deal than she was previously, made clear that she and Treasury Secretary Steven Mnuchin still do not have an agreement and remain far apart on several issues.

“I’m hopeful, but we do come at it from two different places,” Pelosi told reporters at her weekly press conference. “We not only have a dollars debate, we have a values debate. Still, I’m optimistic.”

White House press secretary Kayleigh McEnany confirmed to reporters at the White House Thursday that the administration gave a $1.6 trillion counter-offer during a meeting between Pelosi and Mnuchin on Wednesday. But the $600 billion gap will be a difficult one to close, considering the Republicans’ lack of appetite for any package above $1 trillion. One of the few issues that the two sides can agree on is a second round of $1,200 checks.

HEROES vs. HEALS Act: How Stimulus Packages Differ Ahead Of Second Coronavirus Relief Aid

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McEnany cast doubt on the ongoing talks, as Pelosi persists in her refusal to drop below $2.2 trillion.

“Nancy Pelosi is not being serious,” McEnany said. “If she becomes serious, than we can have

House Democrats won’t vote on $2.2T plan to give Pelosi and Mnuchin more time to crack a deal

Wait and see.



Steven Mnuchin wearing a suit and tie: Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, Wednesday, Sept. 24, 2020, in Washington. (Toni L. Sandys/The Washington Post via AP, Pool)


© Toni L. Sandys
Federal Reserve Chair Jerome Powell, right, and Treasury Secretary Steve Mnuchin testify during the Senate’s Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, Wednesday, Sept. 24, 2020, in Washington. (Toni L. Sandys/The Washington Post via AP, Pool)

After promising to put up an economic relief bill for a vote on Wednesday night, House Speaker Nancy Pelosi (D-Calif.) and Treasury Secretary Steven Mnuchin held an “extensive conversation” Wednesday on a huge COVID-19 rescue package, meeting face to face for the first time in more than a month in a last-ditch effort to seal a tentative accord on an additional round of coronavirus relief.

After a 90-minute meeting in the Capitol, Pelosi issued a statement saying the two would continue to talk and the vote will not be held just yet. “We found areas where we are seeking further clarification,” she said.

“We made a lot of progress over the last few days. We still don’t have an agreement,” Mnuchin said after meeting with Pelosi and briefing top Senate Republican Mitch McConnell.

Wall Street plunged after the news broke, with the Dow Jones Industrial Average giving up most of a 550-point gain in the final hour of trading.



a close up of Nancy Pelosi with pink hair looking at the camera: House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill, Friday, Sept. 18, 2020, in Washington.


© Manuel Balce Ceneta
House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill, Friday, Sept. 18, 2020, in Washington.

House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill, Friday, Sept. 18, 2020, in Washington. (Manuel Balce Ceneta/)

At issue, is a long-delayed package that would extend another round of $1,200 direct stimulus payments, restore bonus pandemic jobless benefits, speed aid to schools and extend assistance to airlines, restaurants and other struggling businesses.

Even if Pelosi

Mnuchin reports movement on COVID-19 relief; House delays vote

By David Lawder and Susan Cornwell

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Wednesday said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation, and the House of Representatives postponed a vote on a $2.2 trillion Democratic coronavirus plan to allow more time for a bipartisan deal to come together.

Less than five weeks before the Nov. 3 presidential and congressional elections, Mnuchin and Pelosi both said negotiations would continue toward a bipartisan agreement to deliver aid to millions of Americans and businesses reeling from the coronavirus pandemic. The virus has infected more than 7.2 million people and killed over 206,000 in the United States.

“We made a lot of progress over the last few days. We still don’t have an agreement, but we have more work to do. And we’re going to see where we end up,” Mnuchin told reporters after meeting with Pelosi for about 90 minutes in the U.S. Capitol.

“We’ve made a lot of progress in a lot of areas,” he said.

For her part, Pelosi avoided use of the term “progress.”

“Secretary Mnuchin and I had an extensive conversation and we found areas where we are seeking further clarification. Our conversation will continue,” the top Democrat in Congress said in a statement.

She said the House would vote late on Wednesday on a $2.2 trillion updated Heroes Act “to formalize our proffer to Republicans in the negotiations to address the health and economic catastrophe in our country.”

But later Wednesday that vote was postponed until Thursday. Lawmakers are “giving one more day for a deal to come together,” a Democratic aide said, speaking on condition of anonymity.

Before the meeting in Pelosi’s office broke up, Senate Majority Leader Mitch McConnell, a Republican, told reporters that Republicans and Democrats were still