Mnuchin, Pelosi fail to reach coronavirus deal as House Democrats pass their own bill
Mnuchin: ‘We’re prepared to do’ stimulus deal if ‘fair compromise’
Treasury Secretary joins ‘Lou Dobbs Tonight’ to discuss the state of negotiations for coronavirus relief bill.
The U.S. House of Representatives passed a revised coronavirus relief bill in a largely symbolic vote on Thursday, as discussions between House Speaker Nancy Pelosi, D-Calif., and U.S. Treasury Secretary Steven Mnuchin continue.
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The bill has little chance of becoming law since Republicans are unlikely to bite on the $2.2 trillion price tag even though it is nearly $1 trillion less than what Democrats originally proposed in May.
Pelosi acknowledged on Thursday night that she had reached no agreement in her discussions with Mnuchin, but indicated that negotiations would continue.
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As previously reported by FOX Business, Mnuchin said on Wednesday that Republicans would not approve a $2.2 trillion package.
He noted that President Trump instructed Republicans to come up from their original negotiating point of $1 trillion – and Mnuchin suggested that the number being discussed was somewhere in the “neighborhood” of $1.5 trillion.
Pelosi pushed back on Republicans’ desire for a “skinny package” on the House floor on Thursday, arguing that the U.S. does not have a “skinny” coronavirus crisis.
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Democrats had originally proposed the $3 trillion HEROES Act in May, which was approved by the Democratic-controlled House of Representatives without Republican support.
House Minority Leader Kevin McCarthy, R-Calif., said there were “so many problems” with the revised bill during his weekly press conference on Thursday.
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Mnuchin, however, noted that there are a number of issues that both sides agreed on, including another round of direct payments to American households.
The Treasury Secretary said more economic impact payments would be included in a stimulus package, if lawmakers can reach an agreement. The terms of those payments, he said, would be similar to the first round of checks distributed under the CARES Act.
The Democrats’ revised bill included an economic impact payment proposal, as well as an extension of the $600 unemployment supplemental benefit that expired in July. It also included aid for schools, frontline workers and health care workers.
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Fox News’ Jason Donner contributed to this report.
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