After more than a month of stagnation, Democrats and Republicans finally seem to be closing in on an agreement over a new relief package that includes a new stimulus check and unemployment benefits.
On Tuesday, Mnuchin and Nancy Pelosi spoke on the phone for nearly 50 minutes and reviewed the provisions of the updated proposal for the HEROES Act that Democrats had revealed Monday night but did not reach any agreement.
Treasury Secretary Steven Mnuchin said the White House then planned to increase their previous offer from $ 1.3 trillion to $ 1.5 trillion and include provisions that would allow the package to be raised to $ 2 trillion. dollars if the pandemic persists beyond a certain point.
According to Fortune, Mnuchin said a new deal could be made Thursday, but that if talks fall apart this time, they are unlikely to restart.
So far it's unclear how Democratic leaders will perceive that tradeoff.
The White House is negotiating without the full support of its rank and file, so the more stimulus funds Mnuchin offers Pelosi, the more likely it is that votes will be lost in the Senate.
Although they do not agree with the final price tag, both Republican and Democratic leaders support many of the points that would be included in the bill, and if a deal is reached, it would include a second round of $ 1,200 stimulus checks, would extend the enhanced unemployment benefits and would provide more help for small businesses and hospitals.
Politicians disagree on issues such as increased federal aid to state and local governments, which Democrats support, and immunity from the COVID-19 lawsuit for businesses, which Republicans support.
Despite these differences, both parties are running out of time to reach an agreement before the elections, so an agreement could be reached this week to achieve it.