Selasa, 20 Oktober 2020

Nancy Pelosi ‘optimistic’ about prospects for US stimulus deal - Financial Times

The White House and congressional Democrats claimed enough progress in talks on a new fiscal stimulus package to keep negotiations alive, although the chances of a deal that could pass Congress before the November election remained slim.

After the latest call between Nancy Pelosi, the Democratic speaker of the House of Representatives, and Steven Mnuchin, the Treasury secretary, officials were relatively upbeat about the exchange and promised to speak again on Wednesday.

Drew Hammill, Ms Pelosi’s deputy chief of staff, said the 45-minute long conversation provided “more clarity and common ground as they move closer to an agreement” and demonstrated that both sides were “serious” about a compromise. Mark Meadows, the White House chief of staff, told CNBC the pair had made “good progress, and even further progress today”.

However, he added that there will still some “open items” that needed to be resolved. “We’re not just down to a difference of language and a few dollars, we still have a ways to go,” Mr Meadows said.

Economists and investors have been closely tracking the fate of additional stimulus measures for the US economy for months, amid hopes that it could help sustain the recovery from the pandemic shock in the world’s largest economy.

An agreement is expected to be worth up to $2tn and include a new round of direct payments to most US families, up to $1,200 an adult, as well as additional funding for jobless benefits and small business relief.

The upcoming November election has raised the political stakes in the negotiations and complicated the prospects for an agreement. Mr Trump has gone back and forth on the need for additional relief measures — after abruptly pulling out of the negotiations earlier this month, he later urged Republicans to “go big” and seek a large deal. But many Republican lawmakers have been sceptical of the need for a large spending package.

Before her call on Tuesday with Mr Mnuchin, who is travelling in the Middle East, Ms Pelosi told Bloomberg Television that she was encouraged about the talks after the Trump administration made concessions on a plan including more funding for coronavirus testing and tracing.

“I’m optimistic because I do think we have a shared value — not many — but a shared value that finally they want to crush the virus,” Ms Pelosi said, adding that this marked a “change” compared to the weekend.

The Democratic speaker also noted the outstanding sticking points, saying there were still disagreements over worker safety and aid to state and local governments.

The White House has been pushing liability protections for businesses that Democrats have resisted, and opposed additional funding for cash-strapped state and local governments, which Democrats consider crucial to any package.

Ms Pelosi had previously set a deadline of Tuesday night for the Trump administration to strike a compromise, but that timing has now slipped, at least until Mr Mnuchin returns from his international travel.

Any agreement reached by Ms Pelosi and Mr Mnuchin is widely expected to pass the House, which is controlled by Democrats, but could still face serious hurdles in the Senate, which has a Republican majority and may not deliver enough votes for passage.

According to the Washington Post, Mitch McConnell, the Senate majority leader, told his fellow Republican lawmakers at a lunch on Tuesday that he had warned the White House not to strike an agreement before the election, partly because it could disrupt the confirmation of Amy Coney Barrett to the Supreme Court. Mr McConnell’s spokesperson did not respond to a request for comment on the report.

If no deal is reached before the November 3 election, the push for a deal may lose momentum, depending on the outcome of the presidential race. Joe Biden, the Democratic nominee for president, has vowed to make new stimulus measures a top priority if he wins. However, if the former US vice-president is victorious, he would not take office until late January, which would leave the economy in limbo for many weeks until then.

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https://news.google.com/__i/rss/rd/articles/CBMiP2h0dHBzOi8vd3d3LmZ0LmNvbS9jb250ZW50L2NlZjIxMmRjLWQyZGItNDgwNC04OTczLWUwYzQ1Yzc3NTliONIBP2h0dHBzOi8vYW1wLmZ0LmNvbS9jb250ZW50L2NlZjIxMmRjLWQyZGItNDgwNC04OTczLWUwYzQ1Yzc3NTliOA?oc=5

2020-10-20 22:32:00Z
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