So a stimulus update for you.
In my stimulus update from this morning, I like many others observed that meeting in the middle at $2 trillion, halfway between the Republicans’ $1 trillion and the Democrats’ $3 trillion or rather $3.4 trillion per Nancy Pelosi on CNN the other day seems like a decent compromise to me.
Well, here’s the thing. It appears that Republicans have rejected the notion of going up by $1 trillion from their original $1 trillion figure. This is what Pelosi said at her and Schumer’s news conference today:
Nancy Pelosi: As you know, we had been mightily trying to find common ground with our colleagues. It’s hard when your values are so different in terms of bubble up from the working class families instead of trickle down from above. Yesterday I offer to them, we’ll take down a trillion if you add a trillion in, they said absolutely not. If we could do that, if we take down a trillion, and they add a trillion we’ll be within range, but we must meet the needs of the American people. We could come down some because we can change the dates of expiration, the rest of that, but not undermine our priorities to meet the needs of the American people.
If this is true, if Republicans are not willing to go up to $2 trillion, I don’t know what to say.
And Steven Mnuchin reportedly said this morning that $2 trillion is a non-starter for many Republicans.
After almost two full workweeks of negotiations, there is not even an agreement on the topline number in the next relief package.
Reports are also that many House Democrats will not vote yes on a bill below $2 trillion. So it seems that Mnuchin is on a fool’s errand here, trying to negotiate Pelosi and Schumer below $2 trillion when even if he’s successful, that probably wouldn’t fly, according to Schumer, in the Democrat-controlled House.
I hate to say it but unless some miracle comes from today’s negotiations meeting, Pelosi did call the negotiators into her office for a 1:30 PM Eastern Time meeting today so they are meeting right now for one more shot at cutting a deal this week, and if it’s a no-go, we might be looking at Trump signing some executive orders on various watered-down stimulus items rather than the next round of stimulus going through Congress, at least in the short term.
Even if a deal isn’t struck between the negotiators today, I’m not giving up hope that eventually Congress will do something for the people. But in the short term, we might be looking at Trump, we might be looking at the White House, taking matters into its own hands.
I don’t think that Trump has the authority to authorize stimulus checks via executive order.
This is why even when signs look good, I don’t use words like “stimulus checks confirmed” or “here’s when you’re going to get your stimulus checks” because we really don’t know.
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