by WorldTribune Staff, October 9, 2020
President Donald Trump is preparing a $1.8 trillion coronavirus relief package, according to White House economic adviser Larry Kudlow.
“Covid Relief Negotiations are moving along. Go Big!” Trump tweeted on Friday.
Treasury Secretary Steven Mnuchin was expected to discuss the proposal with House Speaker Nancy Pelosi on Friday.
“The president wants to do a deal,” Kudlow said during an interview with Stuart Varney on FOX Business.
The plan is expected to included a fresh round of $1,200 stimulus checks, expanded unemployment benefits at $400 per week, and additional funding for state and local government.
House Democrats passed a $2.2 trillion aid package last week, and the Trump administration countered with a $1.6 trillion plan. Pelosi rejected that as “inadequate.”
Talks appeared to break down on Tuesday when Trump tweeted that he had instructed Republicans to halt negotiations until after the Nov. 3 election. The announcement sent stocks into a nosedive. Trump swiftly reversed course, initially calling for piecemeal legislation, then renewing a push for a broader coronavirus stimulus deal.