Trump joined call with top lawmakers to discuss coronavirus stimulus

President Donald Trump joined top GOP lawmakers on a phone call earlier Tuesday to discuss the next round of Covid-19 stimulus.

The president, who thus far has relied on White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin to lead the negotiations, participated in the call during his first full day back from the hospital, an administration official confirmed to CNBC.

Other GOP leaders on the phone call included Senate Majority Leader Mitch McConnell, House Minority Leader Kevin McCarthy and the Treasury secretary.

The White House did not respond to CNBC’s request for comment. 

Despite recent efforts to reach a compromise, top Democrats have been deadlocked with the White House since late summer over key aspects, and the size, of a new stimulus package. 

House Speaker Nancy Pelosi and Mnuchin spoke for about an hour Monday but emerged from a phone call with no coronavirus stimulus deal.

Though the president had for weeks left Meadows and Mnuchin in charge, he on Saturday took to Twitter from his hospitalization at Walter Reed National Military Medical Center to call on Congress to strike a deal.

“OUR GREAT USA WANTS & NEEDS STIMULUS. WORK TOGETHER AND GET IT DONE. Thank you!” he wrote at the time. The president was discharged from Walter Reed on Monday evening and continues to be treated for Covid-19.

House Democrats passed a $2.2 trillion stimulus package on Thursday even as the two sides struggled to reach a deal. But McConnell and other GOP senators have opposed the legislation as too large and argue that spending trillions more on would not be worth ballooning the national debt further.

The latest deadlock comes as the country reports tens of thousands of new Covid-19 cases per day and some of the largest U.S. firms plan new layoffs and furloughs. 

Adding to the urgency, the $600 per week supplemental unemployment benefit, federal moratorium on evictions and window to apply for Paycheck Protection Program loans all expired weeks ago.

Still, news that the president may be weighing in on the negotiations may help the odds of another relief bill. Trump, who trails Democratic challenger Joe Biden in several polls, may wish to accelerate any deal to bolster the GOP’s odds during the key November elections.

Politico first reported the news of the phone call. 

Source link




John Malone says he’s buying hard assets like housing in bet on currency devaluation

Liberty Media's John MaloneMichael Kovac | Getty ImagesLiberty Media Chairman John Malone said hard assets look attractive as the unprecedented coronavirus stimulus is poised...

Inflation likely increased slightly in January, bolstered by rising gas prices

Investors are waiting for inflation to pick up, but the consumer price index should show just a slight gain in January, boosted by...

COVID-19: Is It Time for Optimism?

How optimistic should we be that the end of the pandemic is truly, finally in sight? Some experts see a serious chance for...

China reports a growing shortage of factory workers

Employees work on a production line inside a Dongfeng Honda factory after lockdown measures in Wuhan, the capital of Hubei province and China's...