WASHINGTON - After House Speaker Nancy Pelosi pushed back on the idea of individual measures for areas of the United States' economy that was hit by the coronavirus crisis, the White House shifted tack on Thursday. This indicates that the administration is back on leaning towards a large-scale stimulus bill.
Pelosi's spokesman, Drew Hammill, shared that during the 4-minute conversation between Pelosi and Treasury Secretary Steven Mnuchin, the Treasury Secretary told the House Speaker that United States President Donald Trump wants to reach an agreement regarding a comprehensive stimulus package.
On the other hand, Alyssa Farah, the White House spokeswoman, shared that they have made it very clear that they want a skinny package, reiterating her opposition to the $2.2 trillion plan from the House Democrats.
But the White House spokeswoman later then clarified and mentioned to the reporters that the White House is open to go something bigger.
Meanwhile, Bloomberg reported that prospects for an agreement have proved volatile since the US president pulled his negotiators out of talks regarding the comprehensive package on Tuesday.
Even stocks, too, have proved volatile as the airline shared continues to rise and fall on shifting indications of the potential for a separate assistance package for the industry.
After a tumble Tuesday, when the president pulled his negotiators from the talks regarding the possibility of the stimulus checks, the broader S&P 500 Index climbed for a second session on Thursday.
Money for Testing and Tracing
On Friday morning, House Speaker Pelosi sent a letter to House Democrats, casting her further doubts regarding the negotiations.
In her letter, the House Speaker stated that the administration does not share the priority of crushing the coronavirus as the president does not have the capacity, leadership, or plan for tracing, testing, and the needed isolation, The Financial Times reported.
She also mentioned that Trump's delay, denial, distortion of reality, and disdain for science exacted a deadly and preventable human toll.
On Thursday afternoon, Pelosi and the Treasury Secretary held a follow-up call together with Maxine Waters, Chairwoman of the Financial Services Committee, and Nydia Velasquez, Chairwoman of the Small Business Committee in the House, regarding the micro-entrepreneur and the access to capital.
The stimulus aid negotiation will go to a frenzied backdrop on Thursday as Trump is now still recovering from coronavirus. Currently, he is on the final stretch of his campaign for the presidential election in November, and Pelosi both questioned each other's ability to perform their jobs, The Wall Street Journal reported.
On Thursday, the US president claimed that they are looking at many measures on the table, including the $1,200 individual checks.
In an interview, Trump shared that he and Pelosi are starting to talk again, talking about airlines and an even bigger deal than airlines.
Trump also added that they are also talking about a deal with $1,200 per person. They also talked about other things.
Earlier this week, Senate Majority leader Mitch McConnell stated that he supported the decision of Trump regarding calling off the talks. Still, a few days after, his comments shifted and mentioned that the two sides should continue to try negotiating a deal.
But McConnell stated that there would be vast differences in how much will be spent.
Related article: US President Donald Trump Wants to Strike a Broad Stimulus Deal