• Sunday, Nov 28, 2021
  • Last Update : 10:25 pm

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

  • Published at 09:36 am October 12th, 2020
US senators
File photo: US Treasury Secretary Steve Mnuchin takes questions from news reporters with White House Chief of Staff Mark Meadows following a series of meetings on efforts to pass new coronavirus aid legislation on Capitol Hill in Washington, US, July 28, 2020 Reuters

Trump’s reversal and higher offer drew criticism from Senate Republicans

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.


Also read - Twitter flags Trump tweet for violating its rules on Covid-19 information


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 $2.2 trillion proposal. That came days after Trump abruptly called off negotiations until after the Nov. 3 election in which he is seeking re-election.

Trump’s reversal and higher offer drew criticism from Senate Republicans, some of whom are uneasy about the national debt and whether a deal would cost Republicans votes next month.

Federal Reserve officials have urged Congress to be aggressive. The head of the Minneapolis Federal Reserve Bank said the recovery had “flattened out,” indicating the need for further stimulus.

“A lot of people are suffering. A lot of small businesses are suffering,” Minneapolis Fed chief Neel Kashkari said on CBS’ “Face the Nation” on Sunday.

White House economic adviser Larry Kudlow said on CNN’s “State of the Union” that Republicans would eventually come around.

“I think if an agreement can be reached, they will go along with it,” he said, adding there would be “further efforts of negotiation” on a package this week.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail