The White House has called on Congress to enact a stripped-down coronavirus relief bill utilizing remaining funds from an expired small-business loan scheme. At the same time, the opposition ran through talks on a larger plan.

The latest Trump administration plan is the newest twist in on-again, off-again negotiations to seek further stimulus. The economy continues to rebound from coronavirus-related shutdowns that put millions of Americans out of jobs.

More talks

Treasury Secretary Steven Mnuchin and White House State Chief Mark Meadows on Sunday gave a letter to to House and Senate lawmakers. They aim to continue to speak with Senate Democratic leader Chuck Schumer and Speaker Nancy Pelosi of the House of Representatives.

According to them, they want to strive to find consensus on a substantive bill. But they said Congress could vote promptly on legislation to authorize the Paycheck Protection Program's remaining funds to be utilized. The budget is worth nearly $130 billion.

"The all or nothing approach is an unacceptable response to the American people," they wrote. A Pelosi spokesperson did not respond to a request for comment.

Representative Nita Lowey, the Democratic chairwoman of the House Appropriations Committee, later on dismissed the administration's bid as "woefully insufficient."

White House spokesman Brian Morgenstern informed reporters that the unused funds would restart the Payroll Security Scheme.

This year, the plan ended earlier to "enable employers to continue utilizing it to retain their workers working."

Will the decision spell doom for the economy?

In talks with Pelosi on Friday, President Donald Trump proposed a $1.8 trillion coronavirus relief plan after asking his staff on Twitter to "go high"-getting closer to Pelosi's $2.2 trillion plans.

That came days after Trump unexpectedly called off talks until after the election on Nov. 3 in which he is seeking re-election.

The turnaround and higher bid from Trump attracted backlash from Republicans in the Senate. Some lawmakers are uncomfortable with the current national debt and whether Republicans would compromise votes next month.

Federal Reserve leaders advised the leaders to remain militant. The president of the Federal Reserve Bank of Minneapolis said that the economy had "flattened out," suggesting the need for more stimulus.

"A lot of people are suffering. A lot of small businesses are suffering," Minneapolis Fed chief Neel Kashkari said on CBS' "Face the Nation" on Sunday.

On CNN's "State of the Nation," White House economic strategist Larry Kudlow predicted that Republicans would finally come around.

"I assume they would go along with it if an understanding can be found," he said. He also noted there will be "further bargaining attempts" on a package this week.

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