(PatriotHeadline.com)- Treasury Secretary Steven Mnuchin all but confirmed what a lot of people have been saying lately: Another economic stimulus bill is extremely unlikely in the near future.
On Wednesday, Mnuchin said he and House Speaker Nancy Pelosi remained “far apart” in negotiations, making a deal before the November 3 election extremely difficult to imagine. Still, the treasury secretary said he’d keep trying to work through differences.
At an event hosted by the Milken Institute’s Global Conference on Wednesday, Mnuchin said:
“I’d say at this point, getting something done before the election and executing on that would be difficult, just given where we are.”
Politics are playing a significant role in the negotiations, as Mnuchin admitted wen asked on Wednesday. In regard to that topic, he said:
“I think that definitely is part of the reality. That’s definitely an issue. But the president is very focused on when he will need to do more. So that’s part of the reason to continue to work on this. The clock will not stop.”
While the two sides remain far apart on coming to agreement on a large stimulus package, there are pieces of the puzzle that have apparently been set. For example, both Mnuchin and Pelosi have agreed on a second round of $1,200 stimulus checks to Americans.
The main areas where they differ include funding for local and state governments, aid for unemployment insurance and childcare, and liability protections for businesses. There are also disagreements over language for some areas of the package.
To this point, Pelosi has insisted on only a comprehensive package, despite the sides coming to agreement on some important aid packages, such as the stimulus checks. Mnuchin criticized this approach Wednesday, saying millions of Americans could be getting some relief now, but they aren’t because of Pelosi’s approach.
“From our perspective, we could have immediate help to many different parts of the economy now. I don’t agree with the speaker’s approach of ‘we have to do all or nothing.’ We’re continuing to negotiate a comprehensive bill, but we want to put money into the economy now.”
In addition to the stimulus checks, Mnuchin over the weekend implored Congress to pass legislation that would allow roughly $130 billion in unused money from the Paycheck Protection Program so that some relief could be seen immediately. Pelosi, though, has continued to say no to such smaller efforts.
Trying to defend her ridiculous position this week, Pelosi got into a rather heated exchange with CNN host Wolf Blitzer. When she was asked about why she wouldn’t accept the White House’s latest $1.8 trillion offer, the speaker thought it appropriate to tell Blitzer that he didn’t know what he was talking about.
Pelosi danced around the questions regarding why she wouldn’t budge from her position, despite the White House continually making compromises to increase their offer and change their demands.
All of this leads to one very obvious thing — that Pelosi is holding up a stimulus deal in an attempt to damage President Donald Trump and other Republicans in the November 3 election. But, she may find that this move backfires as her true intentions are becoming clear.