Steve Mnuchin Secures Commitment Towards Trumpbux 2.0 $1,200 in Stimulus Negotiations
Richard Moorhead
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Treasury Secretary Steve Mnuchin has received a commitment from House Majority Leader Nancy Pelosi on a second $1,200 stimulus payment towards American taxpayers, contingent on a broader deal with the Democratic majority in the House.
Oh boy twitter. Mnuchin just now on talks with Pelosi: "We have reached an agreement that if there is a deal there will be direct payments" — meaning the $1,200 stimulus checks. Still need the deal tho!
— Jeff Stein (@JStein_WaPo) September 30, 2020
With an agreement on direct payments to taxpayers reached, Democrats are now holding up a second TrumpBux payment in an attempt to secure bailout pork for encumbered state and city governments. Republicans have already proposed two different stimulus packages, but the Democrats have shot down both, insisting upon a whopping $3.4 trillion package. Republicans upped the ante to a $1.4 trillion package after their first plan was rejected, but it’s still not enough for the Democrats.
The priority should be payments to taxpayers and relief for real community small businesses that are struggling to compete with digital corporate monopolies in the atomized post-coronavirus world. Somewhere along the line, Democrats decided to make bankrupt municipalities the priority. Payroll support for the struggling airline industry is also a matter of contention in the negotiations.
A vote on a tentative stimulus package was planned in the House of Representatives on Wednesday, but it appears that plan has been postponed as Mnuchin and Pelosi continue to negotiate over the substance of the legislation. The size of the total package will most likely range between $2.2 trillion and $1.5 trillion, the proposals set forth by Democrats and Republicans respectively.
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