The speaker and treasury secretary were expected to speak by phone again later Thursday.
The Trump administration, meanwhile, appears more eager than Capitol Hill Republicans to reach an agreement.
The White House plan, offered Wednesday, gave ground with a $250 billion proposal on funding for state and local governments and backed $20 billion in help for the struggling airline industry. Both areas are of great interest to Democrats’ union backers.
Details on the White House offer were confirmed by congressional aides, speaking on condition of anonymity to discuss closed-door discussions.
Pelosi postponed debate Wednesday on a Democratic alternative measure in hopes of getting an agreement. A vote is likely on Thursday, spokesman Drew Hammill said, depending on how the Mnuchin-Pelosi exchanges go.
White House Chief of Staff Mark Meadows cautioned late Wednesday that Trump won’t approach a $2 trillion threshold. But there’s plenty of wiggle room in numbers so large, and the revenue picture for many states is not as alarming as feared when more than $900 billion for state and local governments swelled a $3.4 trillion Democratic aid bill that passed in May.
In a Wednesday evening appearance on Fox Business, Mnuchin described the talks as the first serious discussions with Pelosi in several weeks and said he is raising his offer into “the neighborhood” of $1.5 trillion. That’s well above what many Senate Republicans want but would probably be acceptable to GOP pragmatists and senators in difficult races.