Democrats increase coronavirus spending demand to $3.7 trillion

House and Senate Democrats said on Friday that the cost of their coronavirus aid package has increased to $3.7 trillion but added that they are willing to shave off $1 trillion to cut a compromise deal with the White House.

White House officials said the escalating cost of the Democratic demands has complicated efforts to secure a bipartisan deal that would also extend expired unemployment benefits and critical small-business loans.

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer said White House negotiators have refused their offer so far but are hoping for a compromise when the two sides meet later in the afternoon.

“Yesterday, I offered to them, 'We’ll take down $1 trillion if you add $1 trillion in,'” Pelosi told reporters. “They said, 'Absolutely not.'”

Treasury Secretary Steve Mnuchin and White House chief of staff Mark Meadows told reporters they have offered a deal worth more than the $1 trillion proposal that Senate Republicans unveiled in July but said Democrats keep raising the cost of their proposal.

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