In spite of Republican efforts to pass a smaller relief bill to address issues they believe to be fundamental at this time, Pelosi has stood her ground and said, once again, she is not in favor of this. Is a bipartisan agreement still possible?
Talks between White House officials and House Speaker, Nina Pelosi are, in her own words, at a “tragic impasse”. This week, once more, she has said she will not approve reduced approaches to American economic needs.
Asked by CNBC’s Jim Cramer if she’d be willing to pass a “skinny” deal now and reconvene with Republicans on other issues later, Pelosi answered that “there is no later with this administration.”
“We can fiscally spend the appropriate amount of money to meet the needs of the American people,” she added. “And by the way: It’s a stimulus. We are a consumer economy and the more we have, whether it’s food stamps or unemployment insurance... that is a stimulus to the economy,” Pelosi said on “Squawk on the Street.”
The House passed a $3 trillion bill known as the Heroes Act, which would provide a second round of direct payments of $1,200 per person, an extension of the extra $600 per week for the unemployed, and nearly $1 trillion in relief for state and local governments. Republicans have said they want to keep the price tag of the developing bill around $1 trillion.
Nina Pelosi’s insistence on a comprehensive approach may put Democrats, who won seats from Republicans in 2018, in a tough position, regarding reelection battles if they have no additional pandemic assistance enacted into law.
The possibility of reaching an agreement on a new package before the November elections, however, seems to be getting farther away every day.