TOPLINE
As millions of Americans remain unemployed, the House of Representatives has officially approached until after Labor Day – all but everyone dismisses any prospect of a deal on the next incentive bill before then. This is where things stand.
House Speaker Nancy Pelosi (D-CA) talks to reporters during a news conference in the US … [+]
KEY FACTS
Negotiators have not made any progress because they did not meet a self-imposed deadline last Friday.
Somehow, Democratic leaders and the White House are even more likely than they were a week ago: daily meetings between the two sides have been suspended, and there are no official plans to return to the negotiating table anytime soon. come.
Asked when a deal could happen on Thursday, House Speaker Nancy Pelosi (D-Calif.) Said, ‘I do not know. If they come in with $ 2 trillion. ”
Pelosi referred to one of the biggest sticking points between the two sides: the price tag.
The Democratic plan would cost more than $ 3 trillion, but Republicans are certain that the final package will cost about $ 1 trillion; negotiators could not meet in the middle.
Last Saturday, President Trump signed four executive actions to address several key economic issues (including supplementary unemployment insurance) in the absence of a major legislative package, but the programs he created could take weeks to implement and will not be as many. have an impact on the economy such as a new congressional bill.
Tangent
With both the Democratic and Republican conventions coming up in the next two weeks and the recent announcement that sen. Kamala Harris (D-Calif.) Presumptive presidential candidate Joe Biden’s running mate will be on the Democratic ticket, the political spotlight is likely to shift away from stimulus talks in the coming days.
What we do not know
If the negotiations will resume in any case. Without agreement on a new bill, several key priorities for both parties could go unaddressed. Another round of stimulus checks – something that both Democrats and the GOP both agree is necessary – will not happen, for example, because Congress is the only body that can authorize the IRS to issue the new checks.
What to see
The last day of the current fiscal year of the federal government is September 30th. Before then, Congress must agree on funding to keep the government running for another year. It is possible that negotiations on more incentive aid will be incorporated into discussions on the federal budget as a whole.
Continue reading
Stimulus checks are held because Democrats want universal post-vote, Trump says – But that’s not the whole story (Forbes)
Mnuchin says White House wants to ‘put more money on the table’ for next incentive bill (Forbes)
Here’s why that $ 400 unemployment check from Trump’s executive order cannot happen (Forbes)
Not one state has said it will pay another $ 100 a week in unemployment under Trump’s plan (Forbes)
