Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Stimulus update: McConnell rejects Trump’s “big” proposal

Stimulus update: McConnell rejects Trump’s “big” proposal

Trump, just hours earlier, told Fox Business’s Stuart Varney that he believed there was a chance of a stimulus deal before the election, despite declining time and interrupted talks.

Citing increasing pressure on Parliament Speaker Nancy Pelosi to secure a deal to help mitigate the economic consequences of the coronavirus pandemic, Trump said: “At one point, she could very well say, ‘Hey, see, I have to do this. “”

He acknowledged that so far, Finance Minister Steve Mnuchin has failed to persuade her to agree to the GP’s preferred piecemeal approach.

But McConnell, reflecting his GOP members, who were recently torn apart by White House officials over the size of their latest $ 1

.8 trillion proposal, has been cool for more than a week on the stimulus approach Trump says he is interested in. provide. He explicitly said Thursday that he would not put a $ 1.8- $ 2.2 trillion deal on the Senate floor.

Instead, McConnell plans to present a $ 500 billion proposal next week – about a quarter of what Pelosi and Mnuchin are currently discussing. Asked about the ongoing talks on the Trump administration at a higher level, McConnell acknowledged that they are still ongoing. But he made it clear that he was going in a different direction.

Pelosi defends rejection of White House stimulus proposal: Americans

“That’s not what I’m going to put on the floor,” McConnell told reporters in Kentucky.

“This is where the administration is ready to go,” McConnell said of the $ 1.8 trillion figure proposed by Trump. “My members think that what we’ve set out, half a trillion dollars, heavily targeted, is the best way to do it.”

Asked if a compromise was possible in the higher range, McConnell said, “I don’t think so.”

McConnell’s comments virtually cut off any possibility of a major pre-election stimulus deal coming into force – something most Capitol Hill had accepted was unavailable in the past few days.

Even Mnuchin, who is scheduled to hold another conversation with Pelosi on Thursday, admitted this week that “to do something before the election and to do what would be difficult just if we are.”

Earlier this week, McConnell was ready to move forward with a more targeted proposal to alleviate the coronavirus next week – similar to the one already blocked by Senate Democrats – was a recognition that the prospects for a broader agreement are fading rapidly. This is a clear reality for the millions of unemployed, the thousands of small businesses on the brink of failure, and the schools that have repeatedly said they are dependent on new aid to address the shortcomings caused by the pandemic.

But while, at Trump’s insistence, the gap in the total price of competing proposals has narrowed significantly in the past week, the core of the dispute between Pelosi and the administration goes deep into the specific political details of the proposal.

Earlier, Pelosi dismissed the $ 1.8 trillion effort as insufficient on several major fronts, and negotiations stalled again without a clear way forward.

Still, Pelosi and Mnuchin spoke on the phone on Wednesday, and Mnuchin said on CNBC on Thursday morning that he was ready to “agree on the merits” with one of the main inevitable points: the specifics of the national strategy for testing, tracking and monitoring.

However, this fundamental agreement, which Mnuchin said would come, came as a surprise to Democrats, who believed they were still far from specific after Wednesday’s trade proposals, aides said.

On Thursday, Trump also said he had instructed Mnuchin to put more than $ 1.8 trillion on the table, but that “so far he has not returned with the bacon.” He also said Republicans would like to agree to an even higher top line number, something Republicans in both houses have made clear to their leaders is not a starter.

Asked why he would not simply agree to the Democrats’ $ 2.2 trillion proposal from parliament, Trump accused Pelosi of including “all sorts of extras.”

“She wants all sorts of extras. She wants to save poorly run democracies and cities. She wants money for things you could never, just couldn’t – just – your pride couldn’t let that happen,” he said. .

The Trump administration has made several attempts to negotiate with the House of Democrats, but Pelosi has so far rejected their proposals, arguing that there are significant differences in a number of key elements, the amount of funding for state and local governments and how hundreds of billions of dollars are allocated to schools. in the scope of children’s tax credits and liability protection.

Republicans in the Senate, in a private conference call over the weekend, also joined the Trump administration’s proposal as too costly and full of policies that were deemed unpleasant, sources at the time told CNN.

The blow prompted Trump’s two chief negotiators, Mnuchin and White House Chief of Staff Mark Meadows, to ask lawmakers to pass a separate bill to help small businesses.

Despite the current lack of buy-ins among Republicans on the hill, Trump told Fox Business he would be on board at an additional cost.

“Yes, I will (I will exceed $ 1.8 trillion) and the Republicans too. Because we like an incentive, we want an incentive and we think we should have an incentive because it’s China’s fault,” he said.

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