Trump says he's considering coronavirus stimulus proposal above $1.8T amid impasse

Daniel Fowler
October 16, 2020

Getting a new stimulus spending package approved by Congress is unlikely before the November 3 presidential election but negotiations will continue nonetheless, US Treasury Secretary Steven Mnuchin said on Thursday.

Asked if he would pick up the phone to call Pelosi with a higher offer, Trump attacked the speaker. She said while she doesn't want to wait until January - when Joe Biden might be sworn in as president - to pass the next stimulus package, Democrats can not give up fighting for their values, according to the person. McGrath said the Republican incumbent has failed to tackle the state's chronic economic and health problems.

"We like stimulus, we want stimulus and we think we should have stimulus", Trump said. Pelosi and Mnuchin were expected to speak again on Thursday.

US stocks have slumped in the past couple of days amid signs that the talks had reached an impasse. As of writing, the S&P 500 Index was down 0.42% on the day while the Dow Jones Industrial Average was losing 0.16%.

The president expressed frustration with Mnuchin, his main negotiator.

But Barrett on Wednesday told the lead Democratic Judiciary Committee member, Senator Dianne Feinstein, "When I said that Justice Scalia's philosophy is mine too, I certainly didn't mean to say that every sentence that came out of Justice Scalia's mouth or every sentence that he wrote is one that I would agree with".

Trump indicated he'd be open to calling Pelosi on the stimulus but doubted it would result in a deal.

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The president and speaker have each been questioning each other's mental faculties.

"His one job is to help America through this crisis right now in passing legislation to keep our economy afloat so that people can make ends meet", she said.

The House approved a $2.2 trillion package, but the latest White House offer was for $1.8 trillion, and Pelosi raised objections to components of that proposal while Senate Republicans revolted over the size. Asked at a news conference if he thought there would be a stimulus compromise before the election, McCarthy wasn't optimistic. "Nancy Pelosi doesn't want to give anything". "We're not holding it up, she's holding it up".

Applications for US state unemployment benefits unexpectedly jumped last week to the highest since August, a report showed Thursday. Jobless claims for the last week reached 898,000 - higher than the Wall Street estimate of 830,000.

"I don't think so".

Trump's own undermining of his team, by endorsing a bigger package than they have fought for - and that Senate Republicans oppose - has encouraged the Democrats to hold out. "Go big or go home, I said it yesterday", Trump told host Stuart Varney. Trump is trying to win a second four-year term in the White House and faces Democratic former vice president Joe Biden.

-With assistance from Mario Parker and Saleha Mohsin.

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