As Unemployment Aid Expires, White House and Congress Clash on Relief Plan – The New York Times

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A weeklong extension of the benefit, Ms. Pelosi said, would only suffice had there been a broader agreement within reach and an additional few days were needed to cement and pass such a deal.

“What are we going to do in a week?” she said. “We anticipate that we will have a bill, but we’re not there yet.”

Despite the bitter talk, there were glimmers of efforts to break through the logjam. Ms. Pelosi is set to host Senator Chuck Schumer of New York, the minority leader, Mr. Meadows and Steven Mnuchin, the Treasury secretary, for a rare meeting on Saturday morning in her office on Capitol Hill, according to an aide familiar with the plans. The House postponed the start of its monthlong August recess until a deal was struck, and on Thursday, before the Senate adjourned until Monday, the procedural wheels for passing legislation had begun to creak forward.

But the stalemate could already be taking its toll. The sudden reduction in buying power that comes with the loss of the enhanced unemployment insurance benefit is likely to cause the economic slowdown to worsen, a blow that comes as the chair of the Federal Reserve, Jerome H. Powell, warned that the recovery underway in May and June was slipping and other economists offered dour predictions of little job growth and stubbornly high unemployment.

Source Article from https://www.nytimes.com/2020/07/31/us/politics/white-house-congress-relief-plan-jobless-aid.html

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