Pelosi believes coronavirus stimulus deal is still possible

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House Speaker Nancy Pelosi said on Sunday that another coronavirus stimulus package was possible as House Democrats tried to move forward with a smaller aid package costing around $ 2, $ 4 trillion, about $ 1 trillion less than their original proposal but more than what the Trump administration has announced it will accept. .Stimulus talks between House Democrats and the Trump administration collapsed in early August, although Treasury Secretary Steven Mnuchin said he and Pelosi had agreed to resume talks.

The chamber could vote on the bill as early as next week. The legislation will include unemployment benefits, direct payments to Americans, small business paycheck protection program loans, and airline assistance.

Pelosi, faced with mounting pressure from moderate Democrats, tried to convince Mnuchin and White House Chief of Staff Mark Meadows to increase the administration’s $ 1.3 trillion bid for a additional trillion dollars. However, Mnuchin reported earlier this month that the administration would not approve a plan greater than $ 1.5 trillion.

“When I have a conversation with the administration, it’s in good faith. I trust Secretary Mnuchin to represent something that can come to a solution, and I believe we can come to an agreement, ”Pelosi said in an interview on CNN.

“However, at some point the public will have to see why $ 2.2 or now $ 2.4 trillion is needed,” Pelosi added. “The president’s refusal of the virus and his just resistance to doing anything to crush it made it worse… So we may need more money than that. And we’ll reveal what it is in a short time. ”

Pelosi has previously said House Democrats will not leave Washington for re-election efforts until they take stimulus measures. As the coronavirus continues to spread across the United States, jobless claims jumped to 870,000 last week and stock markets remain volatile.

Senate Republicans this month failed to advance a $ 500 billion aid package despite Democratic objections that it was insufficient because it did not include relief and food aid for the local and state governments, among others.

“I think we have a chance to do something and we want to,” Pelosi said. “What we’re going to come up with is an offer to say, now let’s negotiate a time frame and a dollar amount to do the job of putting money in people’s pockets, honoring our heroes and d ‘crush the virus. ”

– CNBC’s Jacob Pramuk contributed reporting

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