News about the 2nd stimulus package

Information verified correct on October 16th, 2020

According to representative Steny Hoyer, who is a democrat in the House of Representatives, we could be just a few days away from an agreed-upon stimulus relief package. According to him, this could be done very, very quickly.

We sure hope he’s right because this has dragged out way too long. We were promised a deal all the way back in July, and we are now at the exact middle date of October. So we hope that he’s not just putting out false information in order to ease our anxieties like just be truthful with us if it’s not going to happen.

This morning, republicans announced that they had found some additional common ground in the negotiation between Steve Mnuchin, who’s the Treasury secretary, and Nancy Pelosi, who is the speaker of the House.

Treasury checks

These two negotiators found some common ground when it comes to testing and a few other things, so the republicans will be upping their offer by $80 billion, and the $1.8 billion offer is now right around $1.88 billion.

Now, the president Trump tweeted: “She (meaning Nancy Pelosi) should approve needed stimulus now, most other dems (democrats) agree, republicans are ready to go, and I am ready to sign.”

Again, he is signaling – hey, the areas that we have found common ground, let’s get a deal done right now.

In an interview that the president Trump gave, he said he’s actually okay with these higher numbers. Some people in the republican party wanted to stay right around a trillion dollars or less they have since come up.

But Trump is saying that he’s okay with these higher numbers because the American people did not cause this problem, they didn’t want it, and so, therefore, they should be helped. So, he’s not opposed to helping the American people, according to him.

He then said he thinks that by not moving forward. It’s actually hurting the democratic party more than giving in would help him with the election.

So he’s actually putting it back, saying you guys are making yourselves look bad more than you should be worried about making me look good.

Now, Trump was asked why he won’t just go to Pelosi’s 2.2 trillion dollar deal on the table. He said essentially that his biggest issue with it is giving too much money to state and local government.

Trump said if it were up to him, he would go to that higher amount, but he would much rather see that money go to the American people. He still thinks that there is a deal that could be struck before the election if they’re willing to do it. So, he is signaling that he is ready to sign right now. He is signaling that he’s okay with these higher numbers but just to get the deal put in front of him, but if he’s going to lean towards the higher numbers, it should be for the people and not taxpayer money going to the government.

To be fair, we know that this deal can’t go too high or lose the needed republican support inside the Senate to pass a bill. So there is a balance between going too high and losing the republicans in the Senate and going too low and losing the deal in the House.

We have to have a deal on both sides of the Congress before it can go up to the president, so it seems that we are getting closer to a deal being done, but we don’t see them folding and giving in to the $2.2 trillion number unless it includes more money to the American people.

If they’re going to go up that $400 billion, they might as well do a third or fourth stimulus check directly to the people. That’s how big that number is.

In an interview with Fox News, Steve Mnuchin said he thinks that a deal could still get done before the election, but he didn’t know if democrats would go for it because it could look like handing a win to Trump. Because of that, he is actually cautious about a deal being done before the election.

Now, we’re about 20 days out from the election. For some people, that’s still too long to wait, so our hope is that they will just get a deal done at this point. According to Nancy Pelosi, she wants to get a deal done, but she wants it to be with the numbers that she’s proposing, and that’s fine. They’ve come down, republicans have come up but just where the right balance is? It just seems like they’re not going to find it. And it’s become incredibly frustrating for us.

 




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