Pelosi and Mnuchin return to stimulation negotiation

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With just 36 days to go to the presidential election, House Speaker Nancy Pelosi (D-California) and US Treasury Secretary Steven Mnuchin are still trying to work out the details of a compromised coronavirus stimulus package.

CNBC reported that Pelosi and Mnuchin spoke for 50 minutes on Tuesday morning (September 29) and deliberated on the terms of the Democrats’ latest proposal, Pelosi spokesperson Drew Hammill told CNBC.

House Democrats unveiled a $ 2.2 trillion relief plan on Monday evening as they attempt to break a months-long standoff with the Republican-led Senate and the White House.

Under the revised plan, a second check for $ 1,200 would be sent to most Americans, the $ 600 unemployment benefit would be reinstated until January, and more money would be available to fund Paycheck Protection loans. Program (PPP) for the hardest hit businesses and industries. . The plan also includes $ 436 billion in aid to state and local governments, $ 25 billion to airlines to cover salary costs, $ 75 billion for COVID-19 testing, $ 225 billion for schools, $ 57 billion for child care and billions for rentals and mortgage assistance.

In May, the Democratic-controlled House passed a follow-up to the CARES law that included more than $ 3 trillion in aid to state and local governments, a second direct payment to Americans, a risk premium for workers frontline, more money for coronavirus testing and a temporary cancellation of the cap on state and local tax deductions.

But Republicans, who hold a majority in the Senate, quickly rejected the House bill, saying it was too expensive.

In response, Republicans unveiled a $ 500 billion stimulus package earlier this month that includes another round of paycheck protection program forgivable loans for small businesses, but does not contain a second. direct payment of $ 1,200 to taxpayers.

But Democrats rejected the bill, calling it inadequate. Pelosi told his fellow Democrats in the House that the party was keeping its promise to compromise with the bill that took more than $ 1 trillion from its original plan.

Republicans have expressed concerns about adding to the trillions in US debt. They said Congress had already spent a considerable amount of money to mitigate the economic damage and fight the pandemic.

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