White House Says Agreement on New Economic Stimulus Still Possible

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White House Says Agreement on New Economic Stimulus Still Possible




Larry Kudlow, economic adviser to President Donald Trump, on October 9, 2020 at the White House


© MANDEL NGAN
Larry Kudlow, economic adviser to President Donald Trump, on October 9, 2020 at the White House


A new economic stimulus package to overcome the crisis caused by the covid-19 pandemic proposed by the White House could still be approved, despite the stalemate in discussions, President Donald Trump’s economic adviser said on Sunday.

“I don’t think he’s dead at all” a possible deal, Larry Kudlow told CNN.

“We are asking for some specific areas of assistance that would help this recovery. It is a V-shaped recovery, but there are key areas that could help,” Kudlow said.

“These are simple things. They have bipartisan support. We could do it as separate bills, or a collective bill, or whatever. But I don’t understand the intransigence of my friends the Democrats,” he said.

Markets tumbled Tuesday following Trump’s abrupt decision to end stimulus package talks until after the election, but he took a sharp turn in the days that followed in favor of a deal.

On Friday, the White House stepped up its offer, proposing a $ 1.8 trillion package, as Trump himself, who is lagging in national polls towards the Nov.3 election, said he was in favor of a package. even greater.

But Senate Majority Leader Mitch McConnell chilled the chances of a deal on the same day, saying Congress is unlikely to greenlight a new stimulus package before the election because of differences over how much to spend.

The Democratic Speaker of the House of Representatives, Nancy Pelosi, and the Secretary of the Treasury, Steven Mnuchin, had been negotiating for weeks, which had fueled expectations.

A deal would follow through on the $ 2.2 trillion Cares Act and other measures that brought the total aid approved by Congress to nearly $ 3 trillion.

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