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Stimulus negotiation delayed by Pelosi and McConnell

(Bloomberg) – Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi have given no signs that they are prepared to participate directly in negotiations on a covid aid package. -19, though deteriorating economic data may put pressure on them to get involved. Just over a week before a deal would need to be reached, a report Thursday showed an unexpected spike in weekly claims for benefits unemployment, the highest level in almost two months. Data to be released Friday on consumer confidence is forecast to show a decline this month. McConnell is now on board with a $ 916 billion proposal presented Tuesday by Treasury Secretary Steven Mnuchin, while the The speaker of the House of Representatives sees a rival bipartisan plan that lawmakers continue to elaborate for $ 908 billion is the best path to a deal to help the US economy. Her positions show an emerging consensus on an overall value. But the proposals differ on key features. Although their representatives are involved in the negotiations, top congressional leaders have yet to plan a face-to-face meeting to resolve outstanding issues. The biggest hurdles for months have been McConnell’s quest to establish a liability shield for employers. facing coronavirus-related lawsuits, which are opposed by Congressional Democrats, and a request from Pelosi for a substantial amount of aid to state and local governments, which seems unacceptable to many Republicans in both houses. Pelosi and McConnell , along with Senate Minority Leader Chuck Schumer and House Minority Leader Kevin McCarthy, must finally resolve this protracted dispute, according to lawmakers on both sides of the aisle. “I hope it happens soon, because We don’t have much time, ”South Dakota Sen. John Thune, the second Republican in that House, said Wednesday of a meeting between the four leaders of Congress. A group of 32 Republican members of the House of Representatives in a letter of December 9 asked the four main leaders of the Congress of the two houses “to ensure that a vote is held on a bill emergency aid ”with the current Congress. Led by Tom Reed, co-chair of the bipartisan problem-solving group, they said the $ 908 billion plan is the framework that can become law. Time ticks by as lawmakers work on a year-end spending deal for the 18th. December that could contain the final pandemic aid for the year, a package many see as an important bridge before a renewed debate for more help after President-elect Joe Biden takes office in January, Mnuchin told to reporters Wednesday afternoon that he is “cautiously hopeful” that a deal will be reached, calling the bipartisan talks “quite constructive.” But he also continued to push for a provision in his new proposal, which would provide $ 600 in direct payments to people. That was rejected by the Democrats, because the government’s plan finances such aid by omitting a supplement of US $ 300 a week to the unemployment benefits that is included in the bipartisan plan. For their part, the Democratic and Republican legislators who work in a Consensus relief plan delivered a more detailed summary of their proposal Wednesday. But they have not resolved their own deadlock over a corporate liability shield and help state and local governments, shutting them out completely as they continue negotiations. Pelosi said Wednesday he is still waiting for some final thoughts from the group on pending protection issues. of responsibility and aid to the states. She and Schumer have said the package should be the new starting point for talks with Republican leaders. “I think we’re close,” she said. “That’s what they tell me: those who are negotiating.” Original Note: Stimulus Talks Drag Without Pelosi, McConnell as Jobless RiseFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source © 2020 Bloomberg LP

Brexit: “Strong possibility” that there is no agreement with the EU, according to Boris Johnson

“It is incomprehensible that people are reluctant to put it on”