White House Chief of Staff Mark Meadows and House Speaker Nancy Pelosi said that they aim to seal the stimulus deal this week while the $500 billion skinny bill fails to proceed in the Congress.

Mnuchin and Pelosi
The U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi aim to strike the stimulus deal this week. Reutersconnect

The Trump administration and the camp of House Speaker Nancy Pelosi continue to talk over and negotiate over the next stimulus package. On Tuesday, White House Chief of Staff Mark Meadows and House Speaker Nancy Pelosi announced there was big progress in their negotiation.

According to a published report in CNBC, U.S. Treasury Secretary Steven Mnuchin and Nancy Pelosi talked on Wednesday afternoon to meet a stimulus deal.

Later that day, Pelosi's spokesperson said that they an inch closer to write legislation. He also added that the two stimulus negotiators will resume their talk on Thursday.

Meanwhile, it is still not clear as how as how the House Speaker received Trump's later offer. It can be remembered that Pres. Donald Trump's last offer was $1.8 trillion but it was rejected. Trump announced days after the rejection that he is willing to give a stimulus package that is bigger than what Republicans and Democrats can offer.

This means that since Pelosi's office said that they are an inch closer to write the legislation for another stimulus package, the amount during their negotiation could be $2.2 trillion or higher.

There is also a big chance that this could be signed into law before the election as both parties receive mounting pressures from millions of Americans.

Even though there is some speculation that even if another stimulus package will pass the Congress, it is unlikely to gain support from the Republicans in the House of Senate. However, Pres. Trump said that in one of his Tweets that if Pelosi will approve the stimulus offer, he will intervene and convince the Republican lawmakers to support a bigger stimulus.

Republican Senator Lindsey Graham of South Carolina already expressed his support over the larger stimulus. He said that the White House will have his support for as long as the offer is smart and is related to COVID-19. There are also other Republican Senators who might show and express their support as the election nears.

On the other hand, Sen. Mitch McConnell's "skinny stimulus bill" worth $500 billion did not make it in the House of Senate. The Democratic Senators blocked the skinny bill because the amount is too small and not enough based on what millions of Americans need amid the global pandemic.

The $500 billion proposed skinny bill included another round of Paycheck Protection Program for heavily impacted businesses, $300 weekly unemployment benefits, liability protections for businesses, and other relief measures. However, it did not include the second round of direct stimulus payments.

When it was proposed in the House of Senate, the skinny bill received 51-44 votes. It fell to receive six votes to advance in Congress. Despite this, there is still a chance that another relief aid will be approved before the election.

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