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Stimulus package negotiations today: “We need to get money for the American public now”



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Congress is on the clock to reach an agreement before it breaks for the election.

Sarah Tew / CNET

President Donald Trump says he is ready to sign one stimulus bill – which would include one second stimulus control – if lawmakers can get one on their desk, according to a tweet on Thursday. With the election about 19 days away, there is a renewed sense of urgency to get a deal ready. At least when it comes to the White House and Democratic negotiators.

“We need to raise money for the American public now, the people who hurt the most,” Finance Minister Steven Mnuchin told CNBC on Thursday. “We will not let the test question stand in the way,” he added, referring to a fixed point in previous talks, funding for coronavirus test and contact tracking.

Mnuchin’s comments come when new unemployment claims jumped unexpectedly this week, the Ministry of Labor announced on Thursday, a total of 886,000 new unemployment claims – an increase of 77,000 from the week before. And 14 million people who benefited from the CARES Act’s $ 600-a-week unemployment benefits fell back into poverty after the benefits expired, a new study from the Columbia University Center on Poverty and Social Policy (PDF) found, published Thursday.

“Go big or go home,” Trump has repeatedly said this week, citing stimulus aid, adding on Fox Business Network on Thursday that he would “absolutely” go higher than the White House’s current $ 1.8 billion incentive offerwhose terms are now being hammered out for a vote in Congress.

The question is whether the Senate Republicans would “agree to it” as the White House has claimed. Senate Majority Leader Mitch McConnell is preparing a $ 500 billion stand-alone bill to vote on Oct. 19, which would not include stimulus controls. “I suggest what we think is appropriate,” McConnell said on Thursday, The Washington Post reported.

What does all this mean and what can happen next? Read on for more information on the uneven path of stimulus calls. We update this story frequently.






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How likely is it that Congress will pass an independent law?

It is difficult to say what will happen, and whether the increasing pressure before the election will lead to a softening of one side’s position. There are currently two ideas in play for a standalone account.

The first comes from the White House and calls on Congress to reuse $ 130 billion in unused money from the wage protection program included in the CARES law. The money would finance new financial support to small businesses or the aviation industry. (It is not enough to fund stimulus checks.)

The other is McConnell’s Senate proposal to fund more wage assistance. “When the full Senate returns on October 19, our first business vote will again vote on targeted relief for American workers, including new funding for the PPP,” McConnell said Tuesday.

Pelosi has consistently rejected an independent bill that is not linked to a major support package. In other words, she has said that she would support a tailor-made bill if there are also assurances that a larger business is also working with.

Why is Trump’s position changing?

Trump has been increasingly vocal in his support for a large stimulus bill, saying at one point that he wanted to correlate more stimulus money than Republicans and Democrats.

But at the same time treated for COVID-19 with one powerful steroid that is known to have side effects, he instructed his team on October 6 to stop negotiating a new deal, instead ordering Congress to send a stand-alone bill for another round of $ 1,200 checks and renew payroll assistance for airlines and other industries.

On October 9, he encouraged negotiators to “go big” on a new stimulus bill and on October 12, he urged other Republicans to “withdraw” the proper process for Barrett’s confirmation hearings “and go for STIMULUS for the people! !!”

According to Trump on October 6, his conviction that an agreement on a stimulus package would not be reached in the short term remained and the desire to quickly confirm the Supreme Court’s associate legal candidate Amy Coney Barrett to the decision. Barrett’s confirmation hearing began on October 12. On Thursday, he tweeted once again that he was ready to sign a bill.

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Democrats and Republicans have not agreed on how much aid should be included in the stimulus package.

Sarah Tew / CNET

What dates can a new relief bill pass, either before or after the election?

With just a few weeks to go before the election on November 3, Congress will run out of time to send further help.

If talks fail before November 3, Pelosi has said that Congress could pick up the thread in another economic rescue package after the election. But with negotiations currently underway, we have proposed five possible dates, both before and after the November elections. These are just speculative. If a bill passes, here it is how quickly we think the IRS can send a second stimulus check.

When can a stand-alone stimulus bill or package pass?

The voices of the house

The Senate votes

The President signs

October 26

October 27

October 28

November 9

November 10

11 November

16 November

November 17

November 18

November 23

November 24

November 25

February 1, 2021

February 2, 2021

February 3, 2021

Did not the House just vote on a new stimulus bill?

On October 1, the House of Representatives passed a revised heroic act which includes one second stimulus control and additional benefits For example improved unemployment benefits for tens of millions of Americans. However, the new House proposal, mostly approved by Democrats, has little chance of advancing through the Republican-controlled Senate.

According to Pelosi, the vote on the revised hero proposal was independent of ongoing negotiations with Finance Minister Steven Mnuchin. If Pelosi and Mnuchin agree on a new proposal, a new bill would need to be drafted separately and voted on in both the House and Senate before it was signed into law. The total cost of the package and funding allocations as a tax credit for children have been the main sticking points.

Why did the House pass the revised Heroes 2.0 if talks are ongoing?

The vote is believed to provide coverage for the House Democrats when they run campaigns without a new relief law, much like the Senate did earlier in September for Republican members with its meager $ 650 billion bill. Like the meager Senate bill, this new House proposal has little chance of advancing in the second chamber.

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Will America approve a new stimulus bill? Both sides agree that more help is needed.

Angela Lang / CNET

What areas do Republicans and Democrats agree on?

Suggestions from both sides include another incentive payment of up to $ 1,200 for individuals which meets the requirements, among substances that help airlines, improved unemployment insurance and expand the payroll check program for companies. Mnuchin has also said they have found agreement on areas such as testing, contact tracing, vaccines and distribution.

So what happens now?

The situation is still in motion. We are currently waiting to see if there is any development. Anything can still happen.

For more information, here is how soon you can get your second stimulus check and what to know about HEALS, CARES and Heroes stimulus proposals that can help inform a final package.




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