U.S. President Donald Trump reiterated on Thursday, will take “very large scale” stimulus plan, his ideal assistance plan than House Speaker Pelosi proposed the scale is even larger.
Trump said, will be in the election as soon as possible after the implementation of large-scale stimulus plan. He will continue to help airlines and could consider another round of negotiations for a pay protection plan (PPP).
U.S. House Speaker Pelosi said Wednesday that Trump is too concerned about the stock market and too susceptible to its influence, and expressed hope that he could return to the negotiating table to focus on negotiations over the stimulus package. Pelosi said legislative work on the stimulus package has not yet been halted. The White House and Capitol Hill need to finalize an agreement on the stimulus package soon. Hopefully, the falling stock market will spur Trump to reach an agreement on the stimulus package.
The dire situation of the new crown epidemic in the U.S. and Europe caused U.S. stocks to plunge again on Wednesday, with all three major stock indexes down more than 3 percent and the Dow plunging nearly 1,000 points.
The White House seems to have finally accepted the view of most observers that a stimulus package to fight the epidemic will not be reached before the election. White House spokeswoman Alyssa Farah said Tuesday, “We’re confident that we’re going to be able to produce results in the coming weeks”. Asked if that meant there was no hope for an agreement this week, she said, “What we’re hoping for is a couple of weeks, and I don’t want to talk about it too early before we make any announcements.”
The U.S. Senate has adjourned after confirming Barrett as a Supreme Court justice on Monday and is not expected to reconvene until after Election Day, stalling the prospects for a stimulus package. However, many senators have already said they will return to Washington for a vote if a stimulus deal is reached by Nov. 3.
Trump had already said earlier this month that he would support a larger stimulus package than the administration’s latest $1.8 trillion, and accused Pelosi of blocking a deal. But his request was opposed by Senate Majority Leader Mitch McConnell, who said it would not have the support of Republican lawmakers.
Democrats are currently proposing a $2.2 trillion stimulus package, with many of their priorities rejected by Republicans.
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