Pelosi, Mnuchin speak for an hour but don’t reach a coronavirus stimulus deal – CNBC

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House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke for about an hour Monday but emerged from a phone call with no coronavirus stimulus deal.

The pair expects to talk again Tuesday as the White House and Democratic leaders try to craft an elusive fifth pandemic relief package, Pelosi’s spokesman Drew Hammill said in a tweet. Pelosi and Mnuchin plan to exchange more details about their proposals Monday, he added. 

The sides have made a final push in recent days to strike an aid agreement and pass legislation before the Nov. 3 election. While Pelosi and Mnuchin seem to have made progress toward a deal, they had a range of outstanding disagreements heading into the weekend. 

The millions of Americans still out of work during the pandemic await more relief from Washington after several financial lifelines set up during the outbreak expired weeks ago. Economists have worried a lack of new fiscal stimulus will stunt a slowing U.S. economic recovery.

Lawmakers also aim to bolster efforts to test Americans for the virus, treat Covid-19 and develop an effective vaccine as the country still reports tens of thousands of new cases per day.

Optimism about the prospects of a relief deal helped to boost the U.S. stock market Monday. President Donald Trump, fighting Covid-19 himself, put pressure on Congress to pass aid legislation over the weekend.

Trump has largely stayed out of the talks between the White House and Congress. 

The coming days will likely determine whether lawmakers can approve another stimulus package before the election. Even if Pelosi and Mnuchin can strike a deal, they will need to craft a plan that can earn enough support to get through the Republican-held Senate. 

Democrats passed a $2.2 trillion coronavirus relief bill last week. It would reinstate the $600 per week in extra jobless benefits through January, send another $1,200 direct payment to most Americans, direct $436 billion in aid to states and municipalities, and authorize a second round of Paycheck Protection Program loans for hard-hit small businesses, among a bevy of other provisions. 

Source Article from https://www.cnbc.com/2020/10/05/coronavirus-stimulus-update-pelosi-mnuchin-talk-but-reach-no-deal.html

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