According to an official familiar with the plan, the second stimulus pack could include direct payments to Americans, Paycheck Protection Program small-business loan funding, and airline aid. To reach the price tag, Democrats would spend about $1 trillion from their previous proposal for a fifth pandemic aid plan.
Will a Deal be Reached?
After the talks with the White House fell apart last month, Democrats aim to restart the negotiations. The House Speaker Nancy Pelosi has repeatedly pushed Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows to boost the administration’s roughly $1.3 trillion offer by another trillion dollars.
Democrats and Republicans have been struggling to reach an agreement regarding the stimulus plan. In May, House Democrats passed their more than $3 trillion aid package, while Senate Democrats blocked a roughly $500 billion Republican plan earlier this month.
Despite several months of strong job growth, COVID-19 shutdowns led to widespread layoffs in the US, and the national unemployment rate reached 8.4% in August. Last week, the Labor Department reported the initial jobless claims rose slightly to 870,000.
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