We are now exactly two weeks away from the November election, and yet we still don’t know whether or not another major stimulus package is going to be passed. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have been trying to reach a deal for weeks on end, and at long last, there finally appears to be a light at the end of the tunnel. According to Pelosi’s deputy chief of staff, the two “continued to narrow their differences” in a call this Monday, and now committee chairs are cutting deals with their GOP counterparts on key elements of the bill.
“The Speaker continues to hope that, by the end of the day Tuesday, we will have clarity on whether we will be able to pass a bill before the election,” Pelosi deputy chief of staff Drew Hammill tweeted on Monday. “The two principals will speak again tomorrow and staff work will continue around the clock.”
According to The Wall Street Journal, Pelosi has stated that if the two sides can’t reach a deal by Tuesday night, the negotiations will continue, but they won’t be able to pass anything until after the election. She said this deadline “only relates to if we want to get it done before the election, which we do.”
After the conversation, Pelosi appeared on MSNBC on Monday evening, explaining that the White House has “finally in the last 24 hours […] come to a place where they are willing to address the crisis.” Pelosi initially came to the table with an updated $2.2 trillion HEROES Act (down from $3.4 trillion in May), and the most recent counteroffer from the White House was for $1.8 trillion. That might not sound like a big gap, but the devil was in the details.
The updated HEROES Act features many of the same core tenets of the initial bill, including more $1,200 stimulus checks for taxpayers plus $500 for their dependents, improvements to the Paycheck Protection Program, assistance for airline industry workers, more funds for child care and education, $436 billion to help state and local governments, more money for coronavirus testing and contact tracing, and resources to ensure safe elections…Read more>>