Nancy Pelosi talks about the phase four bill


House Speaker Nancy Pelosi on Friday called for another bill to extend the provisions of the $ 2 trillion package passed by Congress last week to limit the economic ravages of the coronavirus pandemic.

“Right now, I think we have a good model. It was bipartisan, it was signed by the president. But that is not enough, “Pelosi told CNBC” Squawk on the Street, “after the government’s jobs report showed the US economy was lost. 701,000 jobs in early March as businesses started to close.

The Californian Democrat has said that she wants more direct payments to individuals, beyond the $ 1,200 tranches that lawmakers have just approved. She lobbied to increase funding for small business loans on top of the latest $ 350 billion, and to extend enhanced unemployment insurance for two more months.

“Let’s do what we just agreed to, except to make it more current,” said the speaker about what she would like to see in a fourth response bill. Pelosi added that an infrastructure proposal that the Democrats in the House presented this week as a potential stimulus package “may have to do with a bill beyond that.”

Speaker of the United States House, Nancy Pelosi (D-CA), makes a statement on a package of economic aid against coronaviruses before a vote in the House of Representatives on Capitol Hill in Washington, United States, on March 13, 2020.

Yuri Gripas | Reuters

As the coronavirus spreads across the country, draining health care resources and sending the economy into a tailspin, Congress has begun to question whether it should provide more relief beyond the largest package of spending emergency in the history of the United States. Lawmakers will not return to Washington until at least April 20 because the crisis is evolving rapidly.

The White House has been open to more economic rescue funding. President Donald Trump said on Thursday that the government “would probably do more” than the $ 2 trillion in stimulus money. He lobbied for an overhaul of American infrastructure.

As the administration deals with the surging rollout of small business loans to maintain workers’ payrolls, Treasury Secretary Steven Mnuchin said Wednesday that he would ask Congress for more funds if the $ 350 billion went lifebuoys were distributed quickly.

Republicans in Congress seemed suspicious of spending more federal money now. Minority parliamentary leader Kevin McCarthy, R-Calif., Told the CNBC on Friday before the jobs report told CNBC that “the focus should be on how they are implemented and how they work.”

“I think everything we do in the next phase should be targeted, it should be at the point of recovery when we need to do it, but for the moment we need to focus on implementing the trillions of dollars we we just passed, “he said. Squawk Box. “

Earlier this week, Senate Majority Leader Mitch McConnell said he wanted to see the effectiveness of the latest bailout before passing another bill.

In pushing to expand elements of emergency legislation, Pelosi highlighted the bipartisan support he received in Congress. The Senate adopted it unanimously and the House approved it by voice vote.

The Republicans objected to some of Pelosi’s priorities for responding to the coronavirus, as a national requirement to vote by mail to make voting safer during the crisis. The Speaker also called for more subsidies to the crisis-fighting states and tougher safety standards for Americans who still have to go to work during the epidemic.

Unemployment insurance from the latest stimulus package adds $ 600 per week of benefits to what skilled individuals normally receive from the states. It lasts four months, until July, and Pelosi hopes to extend it until September. It also covers certain people who are generally not eligible for benefits such as independent contractors.

Some Republicans have opposed the unemployment provisions, arguing that they would deter Americans from working.

The flood of new job applications, of around 10 million over a two-week period, has overwhelmed state systems.

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