Stimulus package talks remain stalemated

Oct 15, 2020
Written by Rose Gundersen, VP of Operations & Retail Services

Negotiations in Washington, D.C. on the size of a new economic stimulus package have generated three separate packages as of this week.

This stalemate demonstrates the unlikelihood of immediate relief being available for the public.

As of late last week, the White House offered a $1.8 trillion package compared to a $2.2 trillion package favored by Congressional Democrats. Senate Republicans are planning to pass a bill worth about $670 billion this week.

Last weekend, U.S. Treasury Secretary Steven Mnuchin and the White House urged Congress to divert $130 billion of the remaining unused money from the CARES Act to fund new financial assistance for small businesses or the airline industry. Earlier this month, House Speaker Nancy Pelosi said she didn’t think President Trump could unilaterally issue another executive order to use CARES Act funds like he did in August.

With less than three weeks from the election, Americans are wondering if relief will come soon enough.