Democrats and Republicans have reached an impasse in negotiations surrounding the next economic relief package. As of Friday afternoon, however, a second stimulus check was still on the table, and in the words of CNBC, $1,200 stimulus payments “are still a priority for Washington lawmakers.”
Speaking to CNBC’s “Squawk on the Street” on Friday, Vice President Mike Pence said, “Nobody wants to give direct payments to American families more than President Donald Trump. We sent those checks to American families. It helped people through this tough time.”
The Senate returns from their recess on September 8, while the House of Representatives is slated to return on September 14. Negotiations between Treasury Steven Mnuchin and House Speaker Nancy Pelosi resumed on Tuesday, and fortunately, according to AS.com, progress has since been made.
Here’s what you need to know.
‘There Are Tremendous Areas of Agreement’
On Tuesday, Mnuchin spoke before a House Subcommittee, and said, “What’s more important is… getting money to American workers, American families, kids. There are tremendous areas of agreement, and that’s what we should be doing right away.”
He added, “I would publicly say I am willing to sit down at the negotiating table with the speaker with no conditions whatsoever any time.”
Pelosi, however, said that her call with Mnuchin resulted in “serious differences” between the two sides, according to AS.com.
“Sadly, this phone call made clear that Democrats and the White House continue to have serious differences understanding the gravity of the situation that America’s working families are facing,” Pelosi said in a statement, according to AS.com.
Republicans Plan to Release a Smaller Relief Bill Next Week
Next week, Republicans intend on releasing a $500 billion relief bill. In a statement on Tuesday, Sen. John Barrasso said, “We have a focused, targeted solution that we hope that the House would pass. That’s the goal, is to come back and vote to move to that,” according to ABC.
According to a draft of the bill that was obtained by ABC, the Republican “skinny” bill will include a $300 weekly federal boost to unemployment benefits, $258 billion for small business Paycheck Protection Program loans, and $105 billion for schools.
Still, according to ABC, the skinny GOP bill is “sure to be dismissed by Democrats as inadequate.” And last week, Senator Richard Burr echoed those sentiments and told reporters that the smaller package would likely “fail to pass the procedural hurdle,” according to USA Today.
It’s still possible a deal could be reached in September, and Mnuchin has said that the IRS could start issuing checks within one week of a bill being passed.
If the Senate passes a second stimulus check when it returns on September 8 and the House is called back to vote on the deal on September 9, the president could sign the bill on September 10, and the first checks could be sent out as early as September 21.
On Tuesday, White House Chief of Staff Mark Meadows told CNBC that the biggest sticking point in negotiations was funding for state and local governments.
A recent poll of 5,000 Democrats, independents, and Republicans showed that 7 in 10 Americans favor a new stimulus bill, according to CNET. Thus, there is mounting pressure for Congress, and the President, to reach an agreement on the parameters of a stimulus package.
On Thursday, Senate Minority Chuck Schumer tweeted, “Americans need our help and deserve a bill that meets the needs of the nation.”
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