Negotiations Resume on Stimulus Package

September 30, 2020

On Tuesday, Sept. 29, House Speaker Nancy Pelosi (D-Calif.) talked with Treasury Secretary Steven Mnuchin about reviving another stimulus bill. Congress is set to recess after this week to focus full-time on the election, giving negotiators a very narrow window within which to pass a bill. Pelosi underscored renewed optimism that lawmakers could reach an agreement in time and White House chief of staff Mark Meadows also expressed his belief that Republicans and Democrats could coalesce around a bill.

Following introduction of a new stimulus bill by House Democrats, Pelosi and Mnuchin are scheduled to talk again today (Sept. 30) to dig into more details of the proposal which is a slimmed-down version of the $3.4 trillion package the House passed late-spring. The revised package is a $2.2 trillion stimulus which would renew unemployment benefits, provide another round of $1,200 stimulus payments, extend the Paycheck Protection Program, provide nearly $3 billion schools and child-care, $75 billion for coronavirus testing and tracing, and offer $436 billion in aid to states, cities, and territorial and tribal governments.

Mnuchin has indicated the price-tag is still too high despite the new bill’s lower cost. Part of the goal of a slimmed-down bill is to provide more moderate Democrats cover in terms of offering a stimulus bill with a more modest cost.

A House vote could happen as soon as today, however leadership is holding off scheduling the vote to see if the Pelosi-Mnuchin talks move forward.

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