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2Nd Stimulus Agreement

If House spokeswoman Pelosi “wants to compromise, there will be a deal,” Finance Minister Mnuchin said of the economic talks. “We`ve made a lot of progress in many areas, but there are still some significant differences that we`re dealing with.” t.co/WYR26NQ7cI pic.twitter.com/RgckiuRWTS A big stimulus package would likely include a number of things similar to the revised $2.2 trillion HEROES Act that passed the house in early October. These include a $1200 stimulus check, additional federal unemployment benefit, and assistance to cities and states. Treasury Secretary Steven Mnuchin, who was then negotiating on behalf of the Trump administration, postponed aid to cities and states when negotiations were halted. Economic negotiations resumed after the presidential election, but lawmakers have still not reached an agreement. As a result, Americans have little hope of getting their second stimulus checks to help them cope with the coronavirus economic crisis. Goldman Sachs analysts are more optimistic and explain that while the election results are still controversial, lawmakers are likely to pass a $1 trillion stimulus package even before Biden`s inauguration in January. However, they believe that this stimulus package will have only a “small” positive impact on US growth in 2021. As negotiations continue between the two sides, nonprofit research organization The Brookings Institution has conducted a series of studies on the economic consequences of potential stimulus packages. After the election, House spokeswoman Nancy Pelosi continued to insist on her revised $2.2 trillion HEROES bill, while the White House reportedly resigned from negotiations on a new economic stimulus package. Before the election, Treasury Secretary Steven Mnuchin discussed economic conditions with Pelosi almost daily, but they couldn`t come to an agreement. It is now up to Senate Majority Leader Mitch McConnell to revive discussions with Pelosi.

Before the election, the White House and Pelosi have already agreed that the next stimulus package will include a second round of economic controls for Americans. Time is running out to adopt a recovery plan before the end of 2020. Although the Targeted Senate bills, which did not advance, did not include stimulus controls, Republicans (including those in the Senate) supported them. For months, Republicans and Democrats have not agreed on the amount of the next stimulus package. McConnell had presented the day before a lean Republican proposal, which costs more than $ 500 billion. Meanwhile, the Democratic-controlled House of Representatives passed a $2.2 trillion stimulus package in October and the White House hit back with a $1.8 trillion proposal. Pelosi and White House Chief of Staff Mark Meadows remain optimistic about how to reach an agreement quickly. “Hopefully we can get a deal the next day,” Meadows said. “We`re still working on it, Minister Mnuchin and I have spoken, and we are still working with her teams, but in fact we are making adjustments and trying to look at the language to find a compromise.” President Donald Trump, who had promised “immediately after the election a huge stimulus package,” was busy contesting the election results. .