New coronavirus stimulus package stalled by disagreements to extend weekly surge in federal unemployment

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  • House of Commons Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin appeared on ABC News’ “This Week” Sunday and detailed some of the ongoing negotiations between Republicans and Democrats over an upcoming relief package against the government. coronavirus.
  • Republicans and Democrats have hit a wall on the $ 600 weekly increase in federal unemployment benefits, which was part of the $ 2 trillion CARES law passed in March.
  • Republicans, including President Trump, have said they are not planning to extend the initial boost because they believe it “pays people to stay home.”
  • Mnuchin said Republicans offered a week-long extension of the $ 600-per-week increase in federal unemployment benefits, but said Democrats were more focused on including that as part of a long term solution.
  • Pelosi blamed the president for continuing negotiations and said the GOP offered a weekly raise of $ 200 that “does not meet the needs of working American families.”
  • Visit the Business Insider homepage for more stories.

Democrats and Republicans are still stuck in negotiations over an upcoming stimulus package to relieve coronaviruses and continue to argue over how to extend a weekly increase in federal unemployment benefits that ended at the end of the month latest.

In appearances on ABC News “This Week,” House Speaker Nancy Pelosi, Democrat of California, and Trump-appointed Treasury Secretary Steven Mnuchin, said discussions of extending the weekly hike $ 600 to federal unemployment benefits, which was passed in March as part of the $ 2 trillion CARES bill, are at the center of their ongoing negotiations.

“He’s the one who opposes this,” the Speaker of the House told President Trump on Sunday. “We went for the $ 600. They have a $ 200 proposal, which does not meet the needs of American working families. ”

White House Chief of Staff Mark Meadows said last week the president does not support maintaining the expanded federal allowance of $ 600 per week, which was enacted in March and expired at the end of July because she “paid people to stay at home”. In some cases, Americans were making more money under the extended federal benefit than they were in their previous jobs.

“The $ 600 is essential,” Pelosi said. “It’s essential for working American families. And, again, to condescend, disrespect their motivation is so amazing how much Republicans insist on the working family and their $ 600 and how cavalier they are with the other funds coming out ”

Several people who spoke with Business Insider’s Rhea Mahbubani have expressed concerns about the possibility of making ends meet now that the $ 600 increase has ended.

But Mnuchin told “This Week” moderator Martha Raddatz that Democrats have rejected GOP attempts to temporarily extend the rise in unemployment by a week while the parties continue negotiations.

“We came up with a one-week extension to $ 600 so that even though we negotiate a longer term solution, at least all of these people don’t waste their money, and I’m surprised Democrats aren’t out of it. okay with that, ”Mnuchin told me. “They insist that this be part of a larger agreement. ”

Mnuchin said on Sunday he would not give details of the details of their negotiations with Democrats, but said he and Meadows had so far made “three or four different offers that deal with rising unemployment” .

“I think that on the concept, we are in complete agreement on an increase in unemployment,” he added. “We want to solve the problem where in some cases people are overpaid and we want to make sure there are the right incentives. ”

As Raddatz noted, economists at Yale University found no evidence that the weekly $ 600 congress on unemployment benefits was reducing employment. Mnuchin retorted that he had been to Yale but disagreed with this assessment.

Pelosi and Mnuchin said Sunday’s negotiations were the most productive yet, ABC News reported, although Pelosi said she could not provide a timeline for when she expected the parties to come to an agreement. .

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