Speaker Nancy Pelosi (D-Calif.) said Thursday that White House negotiators seeking a coronavirus relief deal have simply not offered enough money to bring Democrats on board.
Treasury Secretary Steven Mnuchin on Wednesday had delivered the White House's latest COVID-19 stimulus offer, which dedicates funding to many of the same areas Democrats want to target, but at much lower levels.
Pelosi said she's holding out hope that the sides can reach a deal before the Nov. 3 elections, but they remain far apart on issues like funding for state and local governments.
"We're hopeful that we can reach agreement because the needs of the American people are so great. But there has to be a recognition that it takes money to do that," Pelosi told reporters in the Capitol.
The Speaker also pointed to another major sticking point preventing a last-minute stimulus deal: the Republicans' demand to continue a $150 billion tax benefit largely serving wealthy real-estate investors — which was tucked into the CARES Act in March — while resisting the Democrats' demand for $54 billion in tax credits for lower-income families.
"They still want t... (Read more)
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