stimulus

White House seeks limited coronavirus relief bill, promises further talks on broader stimulus

WASHINGTON (Reuters) – The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small-business loan program, as negotiations on a broader package ran into resistance.

The administration proposal, which Democrats dismissed as inadequate, was the latest twist in on-again, off-again talks to try to secure more stimulus, as the economy struggles to recover from coronavirus-related shutdowns that threw millions of Americans out of work.

In a letter to lawmakers, Treasury Secretary Steven Mnuchin and White House Chief of State Mark Meadows said they would continue to talk to Senate Democratic leader Chuck Schumer and House of Representatives Speaker Nancy Pelosi to try to reach agreement on a comprehensive bill.

But they said Congress should “immediately vote” on legislation to enable the use of the unused Paycheck Protection Program funds, which total around $130 billion.

“The all or nothing approach is an unacceptable response to the American people,” they wrote.

A spokesman for Pelosi, the lead Democratic negotiator, did not immediately respond to a request for comment.

Representative Nita Lowey, the Democratic chairwoman of the House Appropriations Committee, rejected the administration’s offer in a statement later on Sunday as “woefully inadequate.”

“We can only reopen our economy and set the foundation for a strong recovery if we support state and local governments on the frontline of this crisis,” Lowey said in a statement.

White House spokesman Brian Morgenstern told reporters the unused funds would be used to reopen the Payroll Protection Program, which expired earlier this year, to “allow businesses to continue to use it to keep their employees employed.”

President Donald Trump on Friday offered a $1.8 trillion coronavirus relief package in talks with Pelosi after urging his team on Twitter to “go big” – moving closer to Pelosi’s

Pelosi rejects White House stimulus offer as ‘wholly insufficient’

  • House Speaker Nancy Pelosi on Sunday sent a letter to her Democratic colleagues calling the Trump administration’s latest stimulus offer “wholly insufficient.”
  • Over the weekend, the White House proposed a $1.8 trillion measure, a figure that’s too high for many Senate Republicans and too low for House Democrats.
  • On Sunday, Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows urged Democrats to pass a measure repurposing leftover funds from the Paycheck Protection Program.
  • Visit Business Insider’s homepage for more stories.

The Trump administration’s latest stimulus proposal is “grossly inadequate,” House Speaker Nancy Pelosi said in a letter to her Democratic colleagues on Sunday, suggesting Congress and the White House are no closer to a deal on a coronavirus relief package.

Over the weekend, the White House proposed a $1.8 trillion stimulus measure, angering both Senate Republicans, who consider that number far too high, and House Democrats, who passed a $2.2 trillion proposal last month.

The White House proposal includes a $400 boost in weekly unemployment insurance, $1,200 stimulus checks for US adults, and $1,000 checks for each child, The Washington Post reported.

Democrats have pushed for a $600 increase in weekly unemployment benefits and $1,200 checks for child dependents, as well as substantially more funding for state and local governments.

In her Oct. 11 letter, Pelosi decried the administration’s proposal, saying the disagreements have to do with more than the top-line numbers.

“[I]n terms of addressing testing, tracing, and treatment, what the Trump administration has offered is wholly insufficient,” she wrote.

Senate Republicans are equally unimpressed, CNN reported. “I don’t get it,” Florida Sen. Rick Scott told White House officials on a phone call this weekend, two sources told the news outlet. Tennessee Sen. Marsha Blackburn said the larger White House proposal would “deflate” the GOP base,

White House pushes for limited stimulus bill

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[NFA] The Trump administration on Sunday asked U.S. lawmakers to approve using leftover funds from the last pandemic stimulus package toward new economic recovery efforts as negotiations on a larger rescue bill face resistance.

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Trump pivots again on stimulus talks after bipartisan backlash

The administration’s latest request is unlikely to advance in the House, where Speaker Nancy Pelosi (D-Calif.) has rejected stand-alone legislation in favor of a comprehensive package to address the economic and health consequences of the coronavirus pandemic. The administration’s $1.8 trillion stimulus proposal on Friday came under heavy criticism from lawmakers in both parties over the weekend, making its chances of passing appear remote.

White House officials will request that Congress approve legislation allowing firms demonstrating a decline in revenue to apply for a second round of PPP funding, which they are not allowed to do under existing law, according to one person familiar with the plans who spoke on the condition of anonymity to discuss the administration’s internal planning.

“Now is the time for us to come together and immediately vote on a bill to allow us to spend the unused Paycheck Protection Program funds while we continue to work toward a comprehensive package,” Meadows and Mnuchin said in a letter to Congressional leaders.

The shift in strategy from the White House caps a week in which the president and his negotiators adopted a dizzying number of different approaches to securing a relief package through Congress. On Oct. 3, the president demanded Congress approve a relief package before three days, later abruptly calling off negotiations with Democrats, and then calling for action on only a handful of priorities, including airline relief and $1,200 stimulus checks. On Wednesday, Mnuchin and Pelosi began discussing a stand-alone measure to provide relief for the airline industry, but those talks were abandoned the next day as Trump again pushed for a wider agreement.

The confusion surrounding the administration’s position continued even as Mnuchin proposed a $1.8 trillion agreement to congressional leaders. On Friday, Trump said he wanted to see a “bigger” stimulus package than

House Speaker Pelosi Says Coronavirus Stimulus Talks With White House at Impasse

WASHINGTON—House Speaker Nancy Pelosi (D., Calif.) said negotiations with the White House over a new coronavirus aid package remained at an impasse Sunday, as Senate Republicans remain wary of more spending.

In a letter to House Democrats on Sunday, Mrs. Pelosi said the administration’s latest $1.9 trillion offer, submitted Saturday, provided inadequate funding and no national plan for testing, contact tracing and treatment of the coronavirus.

“This past week, the president demonstrated very clearly that he has not taken the war against the virus seriously, personally or nationally. This attitude is reflected in the grossly inadequate response we finally received from the administration on Saturday,” Mrs. Pelosi wrote. “Until these serious issues are resolved, we remain at an impasse.”

House Democrats have pushed for $75 billion and a national plan for testing, tracing and treatment of the virus. Mrs. Pelosi said in her letter that the White House plan included about $45 billion in new funding, lacked a national plan for testing and tracing and didn’t address the virus’s disproportionate impact on minority communities.

President Trump in brief comments on the issue said Republicans were still eager to reach an agreement.

“Republicans want to do it. We’re having a hard time with Nancy Pelosi,” he said Sunday on Fox News.

White House spokeswoman Alyssa Farah told reporters the White House offer was around $1.8 trillion. A person familiar with the proposal said it included $1.88 trillion in spending, with about $400 billion of the funds reallocated from unspent money from earlier relief legislation, bringing the total cost to about $1.5 trillion.

Mr. Trump faces resistance from some Republicans wary of approving more federal aid after Congress authorized around $3 trillion in coronavirus relief since March.

During a conference call Saturday morning with White House chief of staff Mark Meadows and