The U.S. House will go forward with a vote on the Democrats’ $2.2 trillion stimulus package, as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have so far been unable to reach a compromise.
Talks Thursday between Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin brought no immediate breakthrough on a deal for a new pandemic relief package, while the House prepared to vote on a Democrat-only plan.
Pelosi and Mnuchin “discussed further clarifications on amounts and language but distance on key areas remain,” Pelosi spokesman Drew Hammill wrote on Twitter. “Their conversation will continue this afternoon.”
Pelosi said earlier in the day on Bloomberg Television that she won’t accept whatever the White House offers just to get a deal done.
“This isn’t half a loaf. What they’re offering is the heel of the loaf,” Pelosi said. “It’s no use going into a negotiation just saying you’ll take the path of least resistance.”
The speaker expressed skepticism to her colleagues earlier Thursday of the chances of a deal.
At a morning news conference, Pelosi said the two sides are still far apart on the total amount of stimulus and how it would be apportioned. Many of the same sticking points that have resulted in the current stalemate, including aid to state and local government, remain.
“We’re hopeful we can reach agreement because the needs of the American people are so great,” Pelosi said. “But there has to be a recognition it takes money to do that.”
Both sides face increased pressure to act as more companies announce job cuts, including airlines that had received help under earlier rounds of federal support, and there is little time to act before the Nov. 3 election.
The S&P 500 Index pared its advance by more than half after Pelosi’s skepticism was reported. U.S. stock markets have been whipsawed this week by speculation over whether a stimulus deal can be reached.
When asked if President Donald Trump would personally step in to participate in the negotiations, White House Press Secretary Kayleigh McEnany said the administration has offered a “good proposal” that compromised on spending levels, but said Democrats are still seeking unacceptable provisions.
“First I would say Nancy Pelosi is not being serious,” McEnany said Thursday. “If she becomes serious then we can have a discussion here.”
House Democrats proposed a $2.2 trillion stimulus package that Pelosi described as a “proffer” in negotiations with the White House. Republican congressional leaders have rejected it, but the Democratic leaders made plans to go through with a vote.
Mnuchin said Trump instructed his negotiators “to come up significantly” from the initial GOP proposal of a $1 trillion pandemic relief plan.
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