Tags: Coronavirus | kudlow | democrats | stimulus | covid | pandemic | economy

Kudlow: Dems Want 'All-or-Nothing' on Stimulus

By    |   Thursday, 15 October 2020 08:58 AM

White House economic adviser Larry Kudlow predicted another coronavirus relief package could still happen despite roadblocks set up by Democrats.

"Right now, you have a moment where I think you could come together in a sensible, targeted, efficient, smart package," Kudlow told CNBC of a potential fiscal solution. "I'm not sure it's over, by the way."

Kudlow, who leads the National Economic Council, asked why Democrats “want this all or nothing approach,” and pointed to the stalemate.

"We have closed the gap enormously. OK? I'm not sure the Senate Republicans would buy into it. But we've gone from the administration's original position, which was about $1 trillion, now at $1.8 trillion."

Kudlow told CNBC that Treasury Secretary Steven Mnuchin is frustrated with the negotiations.

For his part, Mnuchin on Thursday voed to keep trying to reach a deal on coronavirus relief with House Speaker Nancy Pelosi before the Nov. 3 election, he said on Thursday, adding that disagreements over for a national strategy to test people for the deadly COVID-19 will not tank negotiations.

"When I speak to Pelosi today I'm going to tell her that we're not going to let the testing issue stand in the way, that we'll fundamentally agree with their testing language subject to some minor issues. This issue is being overblown," Mnuchin said in an interview with CNBC.

Mnuchin said Wednesday that he and Pelosi were "far apart" on another coronavirus economic relief package, and that a deal would be hard to reach before the Nov. 3 elections, but he would keep trying, Reuters said.

The White House and Democrats and Republicans in Congress are under mounting pressure to hammer out a fiscal stimulus deal to help Americans weather a pandemic that has killed nearly 216,000 people and damaged the economy.

But the two sides are divided over several priorities. Meanwhile, Senate Republicans are resisting as too expensive a $1.8 trillion offer that Mnuchin proposed last week. Pelosi says it's insufficient and is calling for a $2.2 trillion package.

Mnuchin said he did not agree with Pelosi's "all-or-nothing" approach to a deal. He said there's some $300 billion unspent from previous coronavirus aid packages that could be "repurposed" by Congress immediately. This would include money that could be allocated for the airlines, he told Fox.

On Tuesday, Senate Majority Leader Mitch McConnell, the top Republican in Congress, announced that the Senate would vote next week on a slimmed down $500 billion COVID-19 bill. Democrats blocked a similar proposal last month.

Congress passed about $3 trillion in coronavirus aid, including help for the unemployed, in March.

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White House economic adviser Larry Kudlow predicted another coronavirus relief package could still happen despite roadblocks set up by Democrats.
kudlow, democrats, stimulus, covid, pandemic, economy
Thursday, 15 October 2020 08:58 AM
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