U.S. House of Representatives Speaker Nancy Pello West and Finance Minister Steven Mnuchin once again tried to bridge the stimulus plan differences, but investors seem to have no hope of passing the bill before the election.
There are currently eight days before Election Day. The Senate is scheduled to adjourn later on Monday and members of Congress will leave Washington. If an agreement is still not reached, it basically means that it is impossible to complete the drafting, voting and signing of the bill before the November 3 general election.
White House economic adviser Kudlow told reporters on Monday that the differences between the two sides have narrowed, but as the differences narrowed, the situation of the other side has become more and more.
Pelosi continues to promote the implementation of a nationwide epidemic prevention plan, which includes measures such as new crown testing, tracking, treatment, mask orders, and social distancing. She accused the Trump administration of malfeasance in handling the epidemic.
Pelosi said in a letter to his colleagues, “We are waiting for the Trump administration to make an important response to our’several concerns’, including an epidemic prevention action. Now Mnuchin announced Ten days have passed since he accepted our testing program, and the Trump administration still refuses to do so.”
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The three-month deadlock in the negotiations has made the market more worried about the prospects of the US economy, 3 The boost to the economy from the stimulus package launched last month has faded, and the new crown epidemic has rebounded again. Investor concerns caused the stock market to tumble. As of press time, the S&P 500 Index fell 2.1%, marking its biggest decline in a month.
Pelosi and Mnuchin plan to have a phone call on Monday afternoon, which will be their first call since last Wednesday.
In order to complete the drafting of the text of the bill, the congressional committee was working most of the time last weekend. Although both parties said they hoped to give most Americans a check of $1,200 as soon as possible and support the stranded companies, the negotiators were assistants. Both indicated that little progress has been made so far.
The Senate will adjourn after confirming the nomination of Supreme Court candidate Amy Connie Barrett, and the House of Representatives has left Washington. Both houses will recall members to vote 24 hours before the start of the vote, but given that the election is now in the last week, this is unlikely to happen.
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