October 9, 2020

Trump rubber-stamps revised COVID-19 stimulus package, reopening talks: Larry Kudlow

After postponing negotiations on Tuesday for a second COVID-19 economic stimulus package until after the election, President Donald Trump has decided to reopen them, proposing a new $1.8 trillion plan, the Wall Street Journal reports exclusively.

Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi (D-Calif.) are expected to deliberate on the White House’s new proposal at their Friday meeting, according to the Journal‘s piece.

The first stimulus package was passed back in the spring and talks surrounding a second one have been stalled for months over the price tag and key policy differences.

Last week, House Democrats passed a slimmed-down $2.2 trillion version of their own proposal last week. President Trump and Senate Republicans, however, rejected it predominantly for its cost, for protecting undocumented workers who meet specific criteria from deportation, and—according to the president—for supposedly bailing out “poorly run, high crime, Democrat States.”

Furthermore, President Trump on Friday confirmed the revived negotiations in a tweet, saying, “Covid Relief Negotiations are moving along. Go Big!”

And his economic advisor, Larry Kudlow, also told Fox Business‘ Stuart Varney on Friday that the president “would like to do a deal” and has rubber-stamped a new coronavirus economic relief package to aid millions of American workers who remain unemployed.

Although the economy has been sluggishly rebounding since March, 12.6 million Americans remain unemployed, according to the U.S. Department of Labor and Bureau of Labor Statistics. This bounce-back followed the initial layoffs and furloughs at the start of the pandemic while, on the public health front, the U.S. death toll continues to surpass 210,000.

You can follow Douglas Braff on Twitter @Douglas_P_Braff.

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