House Speaker Nancy Pelosi and House Democrats are trying to push a smaller coronavirus stimulus package worth $ 2.4 trillion.
The amount is roughly $ 1 trillion less than the package the House passed in May, but more than what the Trump administration has signaled it will accept. According to CNBC, the legislation is sure to include direct payments to Americans, unemployment benefits, and a new round of funding for the paycheck protection program.
Pelosi has urged Treasury Secretary Stephen Mnuchin and White House Chief of Staff Mark Meadows to increase the Trump administration's original $ 1.3 trillion offer by an additional $ 1 trillion. However, Mnuchin stated the government would not approve a bill costing more than $ 1.5 trillion.
“When I have a conversation with the administration, it's in good faith. I trust Secretary Mnuchin represents something that can lead to a solution and I believe we can reach an agreement, ”Pelosi said in an interview on CNN.
"At some point, however, the public will have to see why it needs $ 2.2 trillion or now $ 2.4 trillion," added Pelosi. "The president's rejection of the virus and the sheer resistance to doing anything to destroy it made things worse. Maybe we need more money than that." And we will show what that is in a short time. "
Senate Republicans tried to push their own package forward, but the bill failed the first procedural vote on Democratic objections. The Senate bill includes no state and local assistance, food aid, lower federal unemployment benefits, and a second aid check for Americans.
The coronavirus has killed more than 200,000 Americans, the unemployment rate is still above 8%, and the stock market is unstable
Despite the stack of failed aid packages, Pelosi believes the government can come together at a time when the government is entering a battle for the next Supreme Court judge and the next presidential election is fast.
"I think we have a chance to get something done and we want to," Pelosi told CNBC. "What we are going to make is an offer to say. Now let's negotiate within a timeframe and dollar amount to get the job done of putting money in people's pockets, honoring our heroes, and destroying the virus."