Nancy Pelosi blasts the White House’s $1.8 trillion stimulus offer and lists 8 areas with ‘deficiencies’

House Speaker Nancy Pelosi

Summary List Placement

Speaker Nancy Pelosi fiercely criticized the Trump administration’s $1.8 stimulus offer for the third time on Tuesday, and outlined eight areas where Democrats say the plan falls woefully short.

She argued that President Donald Trump’s interest in an economic relief package stems from a desire to send another wave of $1,200 stimulus checks and juice the stock market.

“A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up,” Pelosi said in a letter to House Democrats.

The White House plan includes $1,200 direct payments, $400 weekly federal unemployment benefits, $300 billion in aid to state and local governments, and funds for virus testing and tracing.

The California Democrat listed eight areas with significant “deficiencies:”

Aid to state and local governments.
Coronavirus testing.
Tax credits for families and low-income individuals.
Rental assistance.
Workplace protections and childcare.
Federal funds for states to conduct safe elections.
Relief for small businesses.
Census funding.

Pelosi called for “significant changes” to the White House plan.

Read more: A $2.5 billion investment chief highlights the stock-market sectors poised to benefit the most if stimulus is passed after the election — and says Trump ending negotiations doesn’t threaten the economic recovery

Negotiations on another stimulus package appear to be deadlocked once again after the Trump administration bumped up its stimulus offer to $1.8 trillion on Friday. Both parties panned the proposal over the weekend. Republicans assailed it as a costly package while Democrats contended it didn’t do enough to address the public health and economic crises.

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The on-again, off-again talks between Pelosi and Treasury Secretary Steven Mnuchin entered a volatile period last week after Trump ended them and revived the discussions a few days later. But there’s been no major headway with Democrats calling for at least $2.2 trillion in spending. The Democratic-led House approved an economic aid package earlier this month.

Trump is doubling down on his efforts to secure a coronavirus relief package with three weeks to go before Election Day as polls indicate he is trailing his Democratic opponent, Joe Biden.

The president called on Republicans to approve a federal rescue package on Monday with confirmation hearings underway on his Supreme Court nominee, Judge Amy Coney Barrett.

“Republicans should be strongly focused on completing a wonderful stimulus package for the American People!” he wrote in a tweet.

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Source:: Businessinsider – Politics


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