Treasury Secretary Steven Mnuchin on Tuesday called on Congress to resume negotiations on COVID-19 relief talks after they stalled last month.
“While we continue to see signs of a strong economic recovery, we are sensitive to the fact that there is more work to be done, and certain areas of the economy require additional relief,” Mnuchin said while testifying in front of a House panel that is investigating the White Houses response to the CCP virus pandemic.
Mnuchin, one of the top negotiators for the Trump administration, said his team will attempt to work with Democrats in the House and Senate for another round of emergency aid.
“I believe a bipartisan agreement still should be reached and would provide substantial funds for schools, testing, vaccines, [Payment Protection Program loans] for small businesses, continued enhanced unemployment benefits, child care, nutrition, agriculture, and the U.S. Postal Service, along with liability protection for universities, schools, and businesses,” Mnuchin said.
Democrats had proposed more than $3.4 trillion in their HEROES Act, which cleared the House in May, while Republicans sought about $1 trillion. Both sides disagree about the amount, and namely, how much should be spent on federal and state governments.
Democrats including Speaker Nancy Pelosi (D-Calif.) have said that $2.2 trillion is the cutoff point for a bill. The White House wants to keep the measure closer to $1 trillion, citing the deficit.
“We have said again and again that we are willing to come down, meet them in the middle—that would be $2.2 trillion,” Pelosi told reporters. “When theyre ready to do that, well be ready to discuss and negotiate. I did not get that impression on that call.”
Mnuchin, however, said that its necessary for a measure to be passed to provide economic relief to people who have lost their jobs.
“When it became clear that previous negotiations were not moving forward, the president took executive action to providRead More From Source
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