Stimulus Negotiations Recap
The White House counter-offer is now $1.8 trillion, two days after the President ordered the Treasury Secretary to walk away from negotiations until after he wins re-election. https://www.cnbc.com/2020/10/09/trump-raises-coronavirus-stimulus-offer-to-1point8-trillion-sources-say.html
The House Democrats started at $3.2 trillion and the GOP refused to talk to the Democrats for months and months. Then they finally started at $1 trillion and the House Democrats moved to $2.2 trillion. Then the Senate GOP retreated to $500 billion. Then the White House came in at $1.2 trillion, then in quick succession $1.6 trillion, and now $1.8 trillion, indicating the President’s desperation in the light of his falling poll numbers and approval ratings with the election balloting coming so soon.
As yet we have no idea of what’s in the $1.8 trillion counter-offer. The biggest known sticking points have been aid to states and cities whose revenues have fallen due to the collapsing economy and unemployment assistance boosts for laid-off workers ($400 weekly from GOP and $600 weekly from Democrats. Stimulus checks and aid to airline workers and to small businesses seem to be agreed to by both sides.
There could be lots of poison pills coming from both sides when they see the proposed language associated with the stimulus funds.
Let’s hope it gets done soon, there are lots of hungry families who need food assistance and lots of renters and homeowners facing evictions or foreclosure.
Lucien Wulsin
10/9/20