Chinanews.com, August 8th. According to the American Chinese website, August 7 is the deadline for the White House and the Democrats to reach an agreement on the new crown epidemic relief case. However, after the meeting, the Democrats said that the White House rejected their proposal. For the US$2 trillion compromise plan, the two sides still have differences on key issues and it is difficult to reach a principled agreement.
Treasury Secretary Mnuchin said after the meeting that day that he would recommend that President Trump take administrative measures to stop the deportation and restore some unemployment assistance, including student loan assistance.
Data map: US President Trump.
Mnuchin said that due to lack of progress, Trump should continue to implement the plan and restore some of the expired provisions of the previous bailout bill. "We need some time to finalize and deal with them."
Since Congress controls federal spending, it is unclear what power Trump has to extend these projects.
Speaker of the House of Representatives Pelosi said at a press conference earlier in the day that during the closed-door meeting on the 6th, Democrats proposed that if Republicans agree to increase the package of approximately $1 trillion by the same amount, Democrats can do so. Cut the budget of 3.4 trillion US dollars by 1 trillion.
This strategy is actually a compromise between the two-party plan. Pelosi said: "If you increase by 1 trillion US dollars, we will reduce 1 trillion US dollars. They say it is absolutely impossible."
Pelosi and Schumer continued to meet with White House Chiefs of Staff Mark Meadows and Mnuchin on the 7th. But after the 90-minute meeting, Schumer called the meeting "disappointing" because the White House once again rejected their $2 trillion compromise.
However, Mnuchin said after the meeting that he will not return to the negotiating table again unless the Democrats change their attitude towards epidemic assistance.
In addition to the total amount of the bill, the four negotiators have not reached agreement on several other key issues, including funding for state and local governments, unemployment benefits, and the Senate Majority Leader McConnell’s insistence on businesses and schools. The agency provides liability protection to protect them from civil lawsuits related to the new crown.
Pelosi said: "In the past two weeks of negotiations, we have tried our best to find common ground. However, many key differences still exist.
On the other hand, White House economic adviser Larry Kudlow said that the draft executive order to suspend the collection of payroll taxes is nearing completion, and he believes that President Trump will sign it. Trump has stated many times this week that if the negotiations between the White House and Congress on the bailout case do not progress, he is prepared to unilaterally act through executive orders.