House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are set to talk Tuesday morning after Democrats unveiled a coronavirus stimulus plan designed to restart progress toward a relief deal.
Democrats released the $2.2 trillion legislation Monday night as they struggle to break a weeks long impasse with the White House over how to structure a fifth relief bill. While the Democratic-held House passed a $3.4 trillion proposal in May, the Trump administration has offered to inject only $1.3 trillion more into efforts to boost the economy and health-care system during the pandemic.
Pelosi and Mnuchin spoke on Monday night after Democrats unveiled their bill, the speaker’s spokesman Drew Hammill said. While the pair agreed to speak again Tuesday morning, it is unclear if they moved any closer to a compromise.
Writing to House Democrats on Monday night, Pelosi said her party is “making good on our promise to compromise with this updated bill” because it cuts more than $1 trillion from their original plan. The new legislation would:
- Reinstate the $600 per week enhanced unemployment benefit through January
- Send a second $1,200 direct payment to most Americans
- Give $436 billion in relief over one year to state and local governments
- Authorize more money for a second round of Paycheck Protection Program loans for the hardest-hit businesses and industries
- Send $25 billion to airlines to cover payroll costs
- Inject $75 billion into Covid-19 testing and contact tracing efforts
- Put $225 billion into education and $57 billion into child care
- Set aside billions for rental and mortgage assistance
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