17 Oct by Vitaliy Dadalyan

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Pelosi, Mnuchin Talk on Stimulus as McConnell Sets Up Two Votes

Pelosi, Mnuchin Talk on Stimulus as McConnell Sets Up Two Votes(Bloomberg) — House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin had a lengthy talk Saturday night about efforts to craft a stimulus package for help the U.S. economy weather the impact of the coronavirus. The pair spoke for a hour and 15 minutes, and have agreed to speak again on Monday, Treasury spokeswoman Monica Crowley said in a tweet. Their respective staffs will keep discussions going in the meantime. Before those talks, Majority Leader Mitch McConnell announced that the Senate will vote on Republican proposals for a roughly $500 billion economic recovery bill and additional funding to aid small businesses, starting Tuesday. The votes, essentially one-chamber messaging, will underscore the continued deep differences after months of talks on another stimulus bill that have failed to bridge gaps between President Donald Trump’s administration, House Democrats, and Senate Republicans.McConnell, who previously said the Senate would take action during the week of Oct. 19, spelled out schedule details on Saturday. A standalone vote on more funds for the Paycheck Protection Program will be held on Tuesday, followed by the main relief bill on Wednesday, he said in a statement.“Republicans have tried numerous times to secure bipartisan agreement where possible and get aid out the door while these endless talks continue,” said McConnell, blaming Pelosi for the aid impasse. “Next week, Senate Republicans will move to break this logjam.”McConnell has raised his own objection to any deal — the amount. Trump said Thursday he was prepared to go above the $1.8 trillion his team had been trying to offer to Pelosi, who favors a $2.2 trillion plan.“He’s talking about a much larger amount than I can sell to my members,” McConnell said Thursday of Trump’s latest position. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


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