Virus aid talks collapse; no help expected for jobless now

  • Virus aid talks collapse; no help expected for jobless now

Virus aid talks collapse; no help expected for jobless now

With negotiations over benefits, as well as a broader economic package, stalled, Trump at a Friday night news conference said he could sign orders "by the end of the week".

"If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get the American people the relief they need", Trump said yesterday at a news conference at his golf club in Bedminster, New Jersey.

Earlier on Friday in Washington, Trump's chief of staff, Mark Meadows, and Treasury Secretary Steven Mnuchin said there was no progress in negotiations at the Capitol with the two top Democrats in Congress, House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer.

On Friday, stimulus negotiations between the White House and top congressional Democrats collapsed after two weeks of fruitless talks. Instead, he is considering using executive powers to provide some limited aid. Well that's really what Mr. Meadows did - slam the table and walk out, ' she told reporters on Capitol Hill.

Trump also said he would sign an order forcing health insurance companies to cover all preexisting conditions.

Trump did not specify how much the unemployment supplement would be for, but it would be retroactive to the beginning of the month.

Trump said that his pending order would extend the lapsed jobless benefits through the end of the year, continue the eviction moratorium, suspend federal student loan payments (the current suspension expires on 30 September) and impose a payroll tax holiday. "They're being drawn by lawyers right now".

Kudlow said the White House is looking at "whether the legal counsels and the Office of Management and Budget can see their way to repurposing some of the monies that weren't spent, or else just to add them on to various relief and assistance programs that we're all looking at".

He said that "with that number, we can't meet the needs of workers, of teachers, of schools, of all these things". "The speaker made a very fair offer".

"There's a handful of very big issues that we are still very far apart" on, Mnuchin said, citing aid to states and local governments and renewing the supplemental unemployment benefits.

Pelosi said yesterday Democrats still demand US$915 billion while Republicans are only offering US$150 billion. "If we conclude tomorrow that there is not a compromise position on the major issues, the president has alternatives". Previously, the sides also said there is agreement on providing Americans with $1,200 stimulus checks for the second time this year.

The Democratic-controlled House in mid-May passed a $3.4 trillion coronavirus aid bill.

Both the House and Senate have adjourned for the weekend. Democrats are demanding almost US$1 trillion in aid and warn of massive public sector layoffs in revenue starved areas. Schumer pointed out that some of Republican senators would be unlikely to support a bill regardless of size.

Yesterday's talks took place after Labor Department reported a 1.76 million jump in payrolls in July, beating most estimates.

"My understanding about unemployment is that the administration can not unilaterally create a policy to pay people and that it has to be done through legislation", Gbenga Ajilore, a senior economist at the Center for American Progress, a non-profit for public policy research and advocacy, told Yahoo Money.

'These executive orders, which will leave most people out, will not cover the broad expanse of what's needed, will be litigated in court and be awkward and hard to implement.

'Certainly there are limitations with what we can do from an executive order point of view but we will be as aggressive and robust as we possibly can be, ' Meadows said.