Trump Threatens To Go 'A Different Way' After Stimulus Talks Break Down

Darnell Taylor
August 8, 2020

The Republican Trump has threatened to pull White House negotiators out of talks with top congressional Democrats and instead issue executive orders to address the heavy human and economic toll of a crisis that has killed more than 160,000 Americans and thrown tens of millions out of work.

The deadlock shifts the onus onto the president and whether he will implement those orders or if conversations will continue.

Mnuchin said renewal of a $600 per-week pandemic jobless boost and huge demands by Democrats for aid to state and local governments are the key areas where they are stuck.

Senate Republicans are pushing a package with a price tag of approximately $1 trillion, while Democrats' HEROES Act, which passed in May, reaches about $3.4 trillion.

Senate Minority Leader Chuck Schumer (D-N.Y.) said Democrats are willing to reduce the Democratic relief package by $1 trillion if the White House and GOP's leadership will increase their plan by $1 trillion. US stocks climbed Thursday on optimism that the two sides will come to terms on a stimulus deal.

On Thursday night, after another meeting, both sides suggested that they were far off on a deal in the near future.

"The president's first choice is to do a deal", Mnuchin told reporters on Thursday.

"We'll take down a trillion, if you add a trillion", Pelosi said Friday.

But Meadows claimed Democrats were being stubborn.

"The president is prepared to do something for state and local that deals with the issue of additional coronavirus expenses", Mnuchin said. We are very concerned that these issues exist and we want solutions'.

- Cuts in salary costs, which would apply "until the end of the year and would be retroactive until 1 July", explained Donald Trump.

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Majority Leader Mitch McConnell is leaving the negotiating to the White House and Democrats, who control the House.

'Certainly there are limitations with what we can do from an executive order point of view but we will be as aggressive and robust as we possibly can be, ' Meadows said.

The talks began under the pressure of expectations from financial markets and the threat from President Donald Trump that he'll act unilaterally to restore some of the stimulus measures that ran out during a stalemate in Congress.

President Donald Trump speaks during a news conference in Bedminster, New Jersey, on August 7, 2020. He was in OH on Thursday but called Meadows several times to check in on the status of the talks. "They said absolutely not".

Democrats would have achieved a lower price for the bill by shortening the length of certain benefits, but not by cutting them from their proposals, a tactic that Meadows said was not palatable. Democrats have pushed for a full, $600-per-week extension through January 2021, while Republicans have called for something more modest, arguing that its current level is so generous as to disincentivize employment and so disproportionately hurt small businesses.

The transfer additionally comes as Home Speaker Nancy Pelosi (C-Calif.) mentioned one other $1 trillion is required in the rising assist package deal.

Another stimulus check for Americans and extending eviction moratoriums are also being discussed.

Frustration was palpable among Republican senators shuttling in and out of a GOP lunch session, some of whom say Schumer is intent on using the situation as a hammer against Republicans.

'It is so clear that we should do something, and we should do something big, ' she said.

Democrats have not budged so far, arguing that the new percentage-based system can not be adopted quickly in scores of states.

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