Politics

Pelosi, Mnuchin set to speak as Democrats launch $2.2 trillion coronavirus stimulus invoice

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

Jonathan Ernst | Reuters

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke 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 for 50 minutes on Tuesday morning and “went over the provisions” of the latest proposal, the speaker’s spokesman Drew Hammill said. While the pair agreed to talk again Wednesday, 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 JanuarySend 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 effortsPut $225 billion into education and $57 billion into child care Set aside billions for rental and mortgage assistance

U.S. Treasury Secretary Steven Mnuchin, left, and White House Chief of Staff Mark Meadows speak to reporters in the U.S. Capitol in Washington, U.S. July 29, 2020.

Erin Scott | Reuters

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