U.S. Treasury Secretary Steven Mnuchin and Democratic House Speaker Nancy Pelosi spoke on Wednesday to strike a stimulus deal before the election.

Stimulus Money
Stimulus money that millions of Americans are still hoping to arrive before the election. Unsplash

Millions of Americans are still hoping that another stimulus package will be approved before the Presidential election in Nov.3. Pres. Trump has also been waiting that a new stimulus bill will reach his table so that he can sign it immediately.

Amid the odds that another stimulus bill will be passed into law due to the disagreements of both parties in different measures, the U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi spoke by phone on Wednesday in an attempt to seal a deal.

According to the speaker's spokesperson Drew Hammill, there was progress between the call of Mnuchin and Pelosi. He even described the call as "productive."

Both parties tried to strike the deal and finding their common grounds. Even though both top negotiators want to send direct stimulus checks, there some disagreements that they needed to fix first.

The latest offer of the White House is $1.8 trillion and includes $1,200 stimulus checks, PPP loans, unemployment benefits, state and local funding, budget for the airline industry, and more. Meanwhile, the Democrats are still pushing for $2.2. trillion.

However, Senate Majority Leader Mitch McConnell is quite skeptical that a $2.2 trillion stimulus package will be approved in the Senate. He even noted that Senate Republicans are more likely not to support what Pelosi and her party demanded.

One of the reasons why Republicans seem to resist over the $2.2 trillion stimulus is because of the country's increasing deficit. But Federal Reserve Chairman Jerome Powell testified and asked Congress to immediately act on the second round of stimulus package to support businesses and the economy.

According to a published report in The Hill, Pelosi's spokesperson shared that one major area of disagreement is the lack of understanding on the need for national strategic planning. He also asserted that Pelosi said the country must reopen, as well as the the economy and schools. He also added that Pelosi believed that scientists will agree that there must have a strategic testing plan.

However, this should not be an issue anymore because the Trump administration has already allotted billions of dollars for COVID-19 testing across the country. In fact, Pres. Trump and his administration signed a deal with the leading vaccine manufacturers to provide the country with the doses it needs if a vaccine is proven safe and effective.

For Steven Mnuchin, what hinders the negotiation to seal the deal is the amount of the new package and the policy areas it should target. During a public conference after his call with Nancy Pelosi, he said he did not agree with Pelosi's approach to giving everything she demands or they will get nothing.

This adds up now to the emerging tension in the House of Congress where several Democrats are anxious to vote on a relief measure. Democratic candidates who are in a tight race have been asking Pelosi to act immediately but the House Speaker did not pay attention to this call.

As the election nears, it seems that a new relief package will be passed before the election because of Pelosi's resistance. White House has increased their proposal and even said that they are willing to increase it but Pelosi seems to not have any plans at all.

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