Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Mnuchin reports movement on COVID-19 relief; House delays vote

Published 09/30/2020, 09:50 AM
Updated 09/30/2020, 07:50 PM
© Reuters. Senate's Committee on Banking, Housing, and Urban Affairs hearing

By David Lawder and Susan Cornwell

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Wednesday said talks with House Speaker Nancy Pelosi made progress on COVID-19 relief legislation, and the House of Representatives postponed a vote on a $2.2 trillion Democratic coronavirus plan to allow more time for a bipartisan deal to come together.

Less than five weeks before the Nov. 3 presidential and congressional elections, Mnuchin and Pelosi both said negotiations would continue toward a bipartisan agreement to deliver aid to millions of Americans and businesses reeling from the coronavirus pandemic. The virus has infected more than 7.2 million people and killed over 206,000 in the United States.

"We made a lot of progress over the last few days. We still don't have an agreement, but we have more work to do. And we're going to see where we end up," Mnuchin told reporters after meeting with Pelosi for about 90 minutes in the U.S. Capitol.

"We've made a lot of progress in a lot of areas," he said.

For her part, Pelosi avoided use of the term "progress."

"Secretary Mnuchin and I had an extensive conversation and we found areas where we are seeking further clarification. Our conversation will continue," the top Democrat in Congress said in a statement.

She said the House would vote late on Wednesday on a $2.2 trillion updated Heroes Act "to formalize our proffer to Republicans in the negotiations to address the health and economic catastrophe in our country."

But later Wednesday that vote was postponed until Thursday. Lawmakers are "giving one more day for a deal to come together," a Democratic aide said, speaking on condition of anonymity.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Mnuchin, in an interview on Fox Business Network, said he expected to speak with Pelosi again Wednesday night to follow up on some issues. "I don't think we're going to make significant progress until tomorrow at this point," he added.

Asked if the administration was offering $1.5 trillion, Mnuchin said: "It's in that neighborhood."

He said if a deal is reached it will include direct payments to Americans.

Before the meeting in Pelosi's office broke up, Senate Majority Leader Mitch McConnell, a Republican, told reporters that Republicans and Democrats were still "very, very far apart" on how much to spend and called Pelosi's $2.2 trillion bill "outlandish."

Formal talks among Pelosi, Mnuchin, Senate Democratic leader Chuck Schumer and White House Chief of Staff Mark Meadows broke down on Aug. 7. Pelosi has since taken the lead for Democrats.

Before talks between Pelosi and Mnuchin resumed, the White House had said Trump could agree to a $1.3 trillion bill.

Latest comments

Only REPUBLICANS know how illegal voting happens, because REPUBLICANS do it all the time. Look at the NC convicted REPUBLICAN felon Dowless.
Stopnow
Bailouts aren’t for the people guys. Just the banks and corporations.
Show your Art of Deal, to see who is the better dealer, forget about why and what you are dealing for.
we live in a self-sufficient nation abundant with everything we need and we cannot get along I don't understand it
Greed
I pray twice a day for an asteroid I will not run away from it I will run into it
I would rather be abducted by aliens and just taken off the planet
there was a time I think people would say who's going to be the better president now what I believe they say is who is the lesser of two evils
I think we should just convert America to a kingdom and pray we get a good king
I'm suffering from insanity For some reason I think and want to believe will come to our senses and it's obvious we will never will so roll out the UBI
all thanks to ********Cheney remember him and deficits don't matter well one day they will and who's going to pay it off working stiffs of America
that will make about $700 politicians multimillionaires it's small club and I'm not in it
The agreed upon figure will be 1.9 trillion dollars
who's gonna pay for all of this debt , now fed has 7 trillion debt balance sheet. things looks now like back in 1929 .
Billionaires' children and grandchildren.
do nothing REPUBLICAN S will not bring to a vote in senate.
Not if it has the do nothing Dems radical froth is on top of it.
both are poison
Our debt is over our gdp already. 2.2T is still way too much, it will leave the next crisis w a little room.
The House gave Mitch a bill more than four months ago.
froth
super duper froth. Disgusting.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.