Federal COVID-19 Stimulus Deal Not Likely Before Election
Although U.S. Treasury Secretary Steven Mnuchin and Speaker of the House Nancy Pelosi (D-CA) continue to negotiate a potential COVID-19 relief bill, it is becoming more evident to both sides that a deal will not be reached before the November 3 election.
While Speaker Pelosi maintains that the two sides are close to a deal, there are still significant obstacles to an agreement.
The two sides continue to disagree over two major policies; funding for state and local governments (demanded by Democrats) and liability protection for businesses (demanded by Republicans).
Furthermore, Senate Majority Leader Mitch McConnell (R-KY) and the Republican-led Senate do not agree with some of the concessions that the White House has given Speaker Pelosi and the Democrats, claiming that another multi-trillion dollar stimulus package isn’t needed at this time.
McConnell has said, however, that he will bring a relief bill to the Senate floor for a vote if the White House is able to strike a deal.