President Donald Trump during a news conference at the White House in Washington DC on September 27, 2020.
Joshua Roberts | Getty Images News | Getty Images
President Donald Trump said Tuesday he has told his administration’s negotiators to end coronavirus stimulus talks with Democrats by the Nov. 3 election.
The announcement, if the White House runs on it, will stem the ongoing pressure to send trillions of dollars more relief to Americans, as the US-led outbreak and economics struggle to recover from a virus-related shutdown. Treasury Secretary Steven Munuchin and House Speaker Nancy Pelosi talked for an hour about the relief package on Monday and planned to talk again on Tuesday.
Trump tweeted Tuesday, “I have instructed my delegates to stop negotiating after the election, when I win, we will pass a big stimulus bill that focuses on hardworking Americans and small businesses.”
The president added that he had asked Senate Majority Leader Mitch McConnell to focus “full time” on confirming Supreme Court nominee Amy Connie Barrett. Trump spoke with Republican congressional leaders earlier in the day about stimulus plans.
Investors punished in stocks in response to Trump’s tweet. In the minutes following the announcement, the Dow Jones Industrial Average fell more than 300 points, or about 1.1%.
Although negotiations have made little progress over the months, traders have become more optimistic that the parties can strike a deal before the election, as many individuals and businesses are struggling during the ongoing eruption.
Congress has failed to deliver new relief to individuals for months as the epidemic of paying for food, rent and other living expenses has left millions of Americans jobless. Lifelines passed weeks ago that kept the economy afloat in the early stages of the epidemic, including a કરવાની 600 per week unemployment benefit and a window to apply for a small business loan with the Paycheck Protection Program.
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