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Stimulus bill negotiations today: What we know about standalone checks and airline aid

The clock is operating for Congress to succeed in a deal earlier than breaking for the election.


Sarah Tew/PJDM

Can the White Home and Congress discover a path to extra stimulus help earlier than the tip of 2020? President Donald Trump — who is currently being treated for COVID-19 — called off negotiations Tuesday for a comprehensive stimulus package after which rapidly urged Congress to show its consideration to standalone rescue payments for airline bailout help, small enterprise and a second stimulus check for $1,200. On Fox Enterprise Thursday morning, the president stated he’s negotiating “a bigger deal” than simply the airline package deal and that talks are “very productive.”

With first-time unemployment claims over 800,000 once more final week, the necessity for extra help for Individuals and corporations struggling by means of the coronavirus-induced recession remains acute. Economists throughout the nation, together with Federal Reserve Chair Jerome Powell, have warned of dire consequences to financial restoration and livelihoods if no aid arrives — or not enough.

“Properly it is laborious to see any clear sane path in something that [Trump] is doing. However the truth is, is that he noticed the political draw back of his assertion of strolling away from the negotiations,” stated House Speaker Nancy Pelosi. “All he has ever wished in negotiation was to ship out a test along with his title printed on it. Neglect in regards to the virus.” Pelosi and Treasury Secretary Steven Mnuchin proceed to talk about a standalone bill to assist the airline industry, although Bloomberg reports that Pelosi rejects a standalone stimulus check invoice with out extra help.

Sen. Lindsey Graham, a Republican from South Carolina, has additionally called to return to a larger stimulus bill.

“I’m optimistic that there is about 10 issues that we can do on a piecemeal foundation,” White Home Chief of Workers Mark Meadows said on Fox News Wednesday.

Why did Trump name off the larger stimulus package deal and what is the revised timeline for a brand new invoice to cross? We’ll share what we all know in regards to the instantly tenuous way forward for negotiations and can replace this story usually as information develops.

Learn extra: The most important things to know about stimulus checks and every way your taxes affect stimulus checks.

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Why did Trump pause stimulus talks?

Earlier this week, Pelosi stated negotiators would attain a deal on a complete package deal “one way or another,” regardless of sticking factors. So why did Trump pull the plug?

With Election Day 26 days away, the reasoning Trump shared included his perception {that a} deal on a stimulus package deal would not be reached and that he wished the Senate to show its consideration to the nomination of Supreme Court associate justice nominee Amy Coney Barrett, the president’s choose. It has been urged Trump and fellow high-ranking Republicans who tested positive for COVID-19 acquired the coronavirus on Barrett’s nomination day, at occasions the place masks carrying was not common. 

The Senate, which paused in-person ground votes till Oct. 19 after three Republicans tested positive with COVID-19, is already shifting ahead on Barrett’s nomination in committee conferences, which may happen remotely. Previous to Trump’s tweets, Senate Majority Chief Mitch McConnell had stated his chamber would reconvene to vote on a stimulus package deal if a deal was made.

And a tweet from Trump early Tuesday made his want for extra help clear. “When, instantly after I win, we’ll cross a serious Stimulus Invoice that focuses on hardworking Individuals and Small Enterprise,” he tweeted.

On Thursday, nonetheless, in an interview on Fox Business, Trump stated, “We’re beginning to have very productive talks” on extra fiscal help, particularly pointing to airline help and $1,200 stimulus checks.

When may a brand new coronavirus aid invoice cross if nothing occurs previous to Nov. 3? 

Pelosi said Tuesday evening that Congress may choose up the thread on one other financial rescue package deal following the election. Trump, nonetheless, is urging motion now. We have urged 5 potential dates, based mostly on the brand new timeline, each earlier than and after the November election. These are speculative solely. Within the case of a second stimulus test, here is how quickly we think the IRS could send one.

When may a standalone stimulus invoice or package deal cross?

Home votes Senate votes President indicators
Oct. 19 Oct. 20 Oct. 21
Nov. 9 Nov. 10 Nov. 11
Nov. 16 Nov. 17 Nov. 18
Nov. 23 Nov. 24 Nov. 25
Feb. 1, 2021 Feb. 2, 2021 Feb. 3, 2021

Did not the Home lately cross a brand new stimulus invoice? What is the story?

On Oct. 1, the Home of Representatives handed a revised Heroes Act that features a second stimulus check and additional benefits reminiscent of enhanced unemployment benefits for tens of thousands and thousands of Individuals. The brand new Home invoice, endorsed primarily by Democrats, has little likelihood of advancing by means of the Republican-controlled Senate, although.

Based on Pelosi, the vote on the revised Heroes invoice was impartial of ongoing negotiations with Mnuchin. If Pelosi and Mnuchin do agree on a brand new proposal, a brand new invoice would must be individually drafted and voted on in each the Home and Senate earlier than being signed into legislation. The whole value of the package deal and funding allocations like a baby tax credit score have remained chief sticking factors.

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Will America cross a brand new stimulus invoice? Each side agree extra help is important.


Angela Lang/PJDM

Why did the Home cross Heroes 2.zero if talks have been persevering with?

The vote is believed to offer cowl for Home Democrats as they marketing campaign with no new aid invoice, a lot because the Senate did earlier in September for Republican members with its $650 billion skinny bill. Like the thin Senate invoice, this new Home proposal has little likelihood of advancing within the different chamber.

The place do Democrats and Republicans agree?

Proposals from both sides include one other stimulus payment of up to $1,200 for people who meet the requirements, amongst matters like help for airways, coronavirus testing and lengthening the Paycheck Safety Program for companies.

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Democrats and Republicans have disagreed on how a lot aid help must be included within the stimulus package deal. 


Sarah Tew/PJDM

With talks halted, may the president take government motion?

After talks initially collapsed on Aug. 7, Trump signed an executive order and three memoranda the next day. It is potential extra government actions might be forthcoming if this last try at negotiations fails earlier than the election, although there’s been no improvement after Trump first urged his administration might consider another executive action to bypass Congress. 

It is unclear if Trump would pursue extra unilateral motion at this level.

Pelosi expressed doubt about Trump’s potential to make use of government orders for extra aid funding.

“No. No. He cannot do that by government order,” she said Oct. 5. “He cannot do the cash with out the Congress of the USA. The ability of the purse begins within the Home.”

Trump’s earlier COVID-19 aid executive actions handle making an attempt to slow evictions, extending unemployment benefits to a lesser diploma and deferring payroll taxes till subsequent yr.

So what occurs now?

The scenario continues to be in flux. For now, we wait to see if there are any developments. Something may nonetheless occur. 

For extra info, here is how soon you might get your second stimulus check and what to know in regards to the HEALS, CARES and Heroes stimulus invoice proposals that would assist inform a last package deal.



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Author

Shelby Brown