White House must agree to more COVID-19 aid for talks to resume By Reuters

White House must agree to more COVID-19 aid for talks


2/2
© Reuters. House Speaker Nancy Pelosi Delivers Weekly Press Conference

2/2

By David Morgan and Susan Heavey

WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said the White House must agree to spend more money on coronavirus aid during a phone call slated for Thursday afternoon, if talks aimed at a deal on new legislation are to move forward.

Pelosi was to talk about coronavirus relief with White House Chief of Staff Mark Meadows by phone at 2:30 p.m. EDT (1830 GMT), the first chance in weeks to revive stalled COVID-19 aid negotiations.

But Congress’s top Democrat told reporters it will be a short conversation unless Meadows says the Trump administration is willing to agree to a higher aid figure than the $1 trillion initially proposed by the White House and Senate Republicans.

“Are you willing to meet in the middle? If so, we can have a conversation. If not, I’ve returned your call,” Pelosi said at a news conference.

“We’re not budging. Understand this. They have to move,” she added. “They’re just going to have to come up with more money.”

Meadows and Pelosi are two of the four negotiators who were involved in talks on legislation to help Americans and businesses suffering from a coronavirus pandemic that has now killed nearly 180,000 people. The others are Treasury Secretary Steven Mnuchin and Senate Democratic leader Chuck Schumer.

The talks broke down on Aug. 7, with the sides far apart on major issues including the size of unemployment benefits for tens of millions of people made jobless by the pandemic, aid for state and local governments and funding for schools and food support programs.

The Democratic-controlled House in May passed a $3 trillion coronavirus relief bill but Pelosi offered to reduce that sum by $1 trillion. The White House rejected the offer.

The Pelosi-Meadows phone call comes hours before President Donald Trump was due to accept his party’s nomination Thursday evening. Some Democrats have said they did not expect the White House to resume negotiations in earnest until after this week’s Republican National Convention.

On Wednesday, Meadows said in an interview with Politico that he was not optimistic negotiations would resume soon.

U.S. airlines have warned that massive layoffs will be coming without further aid during the pandemic.

They are hoping a fresh stimulus bill will extend for six months $25 billion in payroll aid that expires on Sept. 30 under legislation approved earlier this year.

The head of the union representing American Airlines (NASDAQ:)’ pilots, who are facing 1,600 furloughs, sent a letter to Trump on Wednesday urging action to extend the package and prevent tens of thousands of layoffs on Oct 1.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME