WASHINGTON–The negotiations over a new package of stimulus and relief legislation President Trump said were over two days ago are now apparently back on.
“I shut down talks two days ago because they weren’t working out. Now they are starting to work out, we’re starting to have some very productive talks,” Trump said in an interview on Fox Business Network.
Trump said he believes House Speaker Nancy Pelosi (D-CA) “wants it to happen, because it’s so good for our country, we really need it.”
Such a package is of keen interest to credit unions, as it could include stimulus checks that would create a new flood of deposits for CUs, relief for beleaguered industries and local governments served by CUs, and extensions of various pieces of the CARES Act.
Various bills have been discussed on Capitol Hill with price tags ranging between $1.6-trillion and $2.2 trillion. The House earlier passed a bill with $3 trillion in spending, but the Republican-controlled House balked.
Trump told Fox Business that a new round of $1,200 stimulus checks was a part of the discussion.
“We’re talking about airlines and we’re talking about a bigger deal than airlines. We’re talking about a deal with $1,200 per person, we’re talking about other things,” Trump said. “But it’s not anybody’s fault, they were trying to get things, and we were trying to get things and it wasn’t going anywhere. I shut it down. I don’t want to play games. And then we reopened, and I see the markets are doing well but I think we have a really good chance of doing something."
Pelosi has rejected the idea of another round of stimulus checks absent broader relief.
Potential Support for Airline Relief
According to Fox Business, Democrats would be willing to support a deal that just helped airlines, although Pelosi sounded out some lawmakers at a meeting Wednesday night, with some sounding open to entertaining the idea because of the jobs at stake.
The talks come as “millions brace for more layoffs, hunger and utility shutoffs as stimulus talks break down,” Fox Business said.
“It was unclear what would come of the new effort, given that Democrats are unlikely to support legislation that excludes aid for the unemployed and state and local governments,” Fox Business added. “The push could aim to force Senate Democrats to take difficult votes to reject largely popular forms of financial stimulus. However, it could also be resisted by conservative Republicans who are skeptical of spending more federal funds fighting the virus.”