White House seeks limited coronavirus relief bill, promises further talks on broader stimulus

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White House seeks limited coronavirus relief bill, promises further talks on broader stimulus

By Valerie Volcovici

 

FILE PHOTO: White House Chief of Staff Mark Meadows and U.S. Treasury Secretary Steven Mnuchin speak to reporters after holding coronavirus relief negotiations with House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S. August 7, 2020. REUTERS/Jonathan Ernst/File Photo

 

WASHINGTON (Reuters) - The Trump administration on Sunday called on Congress to pass a stripped-down coronavirus relief bill using leftover funds from an expired small business loan program as negotiations on a broader package ran into resistance.

 

The proposal was the latest twist in the on-again, off-again talks to try to secure more stimulus for the economy, which is struggling to recover from coronavirus-related shutdowns that threw millions of Americans out of work.

 

In a letter to lawmakers, Treasury Secretary Steve Mnuchin and White House Chief of State Mark Meadows said they would continue to talk to Senate Democratic leader Chuck Schumer and House Speaker Nancy Pelosi to try to reach agreement on a comprehensive bill.

 

However, they said Congress should "immediately vote" on legislation to enable the use of the unused Paycheck Protection Program funds, which total around $130 billion.

 

"The all or nothing approach is an unacceptable response to the American people," they wrote.

 

A spokesman for Pelosi, the lead negotiator for Democrats, did not immediately respond to a request for comment.

 

White House spokesman Brian Morgenstern told reporters the funds would be used to reopen the Payroll Protection Program, which expired earlier this year, to "allow businesses to continue to use it to keep their employees employed."

 

President Donald Trump on Friday offered a $1.8 trillion coronavirus relief package in talks with Pelosi after urging his team on Twitter to "go big" - moving closer to Pelosi's $2.2 trillion proposal. That came after Trump earlier last week said he was calling off negotiations until after the Nov. 3 election.

 

Trump's reversal and higher offer drew criticism from several Senate Republicans, many of whom are uneasy about the nation's growing debt and concerned a deal would cost Republicans support in the upcoming election. 

 

Federal Reserve officials have urged Congress to be aggressive in supporting the U.S. economy. The head of the Minneapolis Federal Reserve Bank on Sunday said the recovery had "flattened out" indicating the need for further stimulus.

 

"A lot of people are suffering. A lot of small businesses are suffering," Minneapolis Fed chief Neel Kashkari said on CBS' "Face the Nation." "We need Congress to continue to be aggressive so that the recovery can be stronger."

 

White House economic adviser Larry Kudlow said on CNN's "State of the Union" that he thought Senate Republicans would eventually come around.

 

"I think if an agreement can be reached, they will go along with it," he said, adding that there will be "further efforts of negotiation" on a package this week.

 

(Reporting by Valerie Volcovici; Editing by Bill Berkrot and Tim Ahmann)

 

-- © Copyright Reuters 2020-10-12

 

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[Isaan sailor]

For some American expats, it’s much better if they don’t pass another relief bill.

1.  Currency traders will continue selling USD, which conversely jacks up the Baht.

2. If you’re married to a foreigner and file jointly with her ITIN number—you won’t receive any stimulus check, unfortunately. 

[newnative]

    Someone told that moron (thanks, Tillerson) Trump, after he cancelled the talks, that it's better to buy votes (with stimulus checks with his name on them) BEFORE the election rather than promise the voters you will send them money if they re-elect you--his plan.  

[RocketDog]

I think we all know by now what to expect from trump's promises. 

This is fake news. 

 

Remember the parable of the Scorpion and the Turtle. 

 

Lying is the essence of trump's nature. 

 

[Redline]

The House has passed two comprehensive bills already~the Trump clan in the Senate refuses to pass them, or even seriously negotiate 

[wwest5829]

4 hours ago, Isaan sailor said:

For some American expats, it’s much better if they don’t pass another relief bill.

1.  Currency traders will continue selling USD, which conversely jacks up the Baht.

2. If you’re married to a foreigner and file jointly with her ITIN number—you won’t receive any stimulus check, unfortunately. 

Appears it would not matter to this Expat in Thailand. The first check was never delivered by mail ...

[Tug]

In my opinion it’s a (dangle) and a distraction nothing will come of it

[RocketDog]

6 hours ago, Tug said:

In my opinion it’s a (dangle) and a distraction nothing will come of it

If anything comes of it will not be good. 

Like everything Trump touches it will turn out corrupted. He has the Midas Touch in reverse. 

[Stargeezr]

So Trump has just held a no mask required rally in Florida, and another in 

another state soon,  I have to wonder just how bad the spike in covid 19 will

be in these states in the next 14 days?   Maybe if he is lucky, now that he thinks

he is now immune, he will be able to get his super spreader supporters to infect

another 100 thousand or so people before the election.    I still have hope that

there are enough intelligent voters in the USA, and Americans living abroad, who will

vote this sorry excuse of a President out of power. I hope it is a landslide defeat

for him that is so huge that even the Republicans will say on election night.

Bye, bye Donny, it was nice to know you, now, (You're Fired!)

Geezer

[Eric Loh]

Lets weigh what's in Trump's tiny mind at the moment. Relief bill for the people or campaigning for himself. Simple to see that he place himself more important than the citizens. He would not be in the White House working on the bill as he is away campaigning.