Will we - or won’t we - have another round of stimulus payments before the Nov. 3 presidential election? We may know the answer soon.
Negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on a second stimulus package are expected to continue today. That package is expected to include another round of direct payments - up to $1,200 for individuals, $2,400 for married couples and $500 for dependents– along with aid for small businesses, education and coronavirus testing.
One of the current issues is the price tag - some $75 billion - for a national COVID-testing, contract tracing and treatment plan, with Democrats saying Republican cuts are unacceptable.
“These (GOP) changes make the funding a slush fund for the Administration which ‘may’ grant or withhold rather than a prescribed, funded plan to crush the virus," Pelosi said. "It is important to note the impact in terms of the disparity facing communities of color: a Latino child is eight times more likely to have to go to the hospital because of COVID-19 than a white child, and a Black child is five times more likely. We want all of our children protected.”
Time is running out
Meanwhile, time to reach a deal before the Nov. 3 presidential election is running out. Pelosi has set a 48-hour deadline to reach an overall agreement, adding that she’s “hopeful” both sides can come together over wording.
“The 48 only relates to if we want to get it done before the election, which we do,” Pelosi told ABC’s “This Week.” “But we’re saying to them, we have to freeze the design on some of these things. Are we going with it or not and what is the language?"
“I’m optimistic because, again, we’ve been back and forth on all of this,” she added.
Pelosi said any chances of reaching a deal before election day will “depend on the (Trump) administration.”
Despite weeks of talks and agreement on direct stimulus payments, the two sides remain far apart on a final price tag. Overall, the White House is offering $1.8 trillion but President Trump has signaled he’d be willing to go higher. Democrats are pushing for a $2.2 trillion package.
Trump blames Pelosi for the ongoing stalemate.
The first relief package was passed in March during the early days of the coronavirus pandemic when the virus led to economic-crippling shutdowns and record unemployment. As of Sunday, the U.S. has reported more than 8.1 million coronavirus cases and almost 220,000 deaths.
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October 19, 2020 at 06:39PM
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Second stimulus check: We should know within 48 hours if 2nd payment coming before election - AL.com
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