Washington: US President Donald Trump on Wednesday tried to recover some of the priority items lost in the wreckage of the COVID-19 relief talks that shocked them, $ 1,200 incentive checks and new aid for airlines and other businesses affected by the epidemic He was under pressure.
In a series of tweets, Trump pressured him to pass these cycles of aid, almost abandoning his sudden and awkward move on Tuesday afternoon to abandon talks with a longtime opponent, House Speaker Nancy Pelosi. California Democrats have rejected such pieces outright. Trump’s tweet demanded her way into the conversation, which she herself had ended.
Trump, who absorbed too much political heat to leave the negotiations, is a repository of an economy whose continued recovery could hinge on important new steps such as epidemic unemployment benefits.
His tweets seemed to take the financial markets into positive territory, though it was certain that they would impress voters demanding more relief.
He called on Congress to send him a “Stand Alone Bill for Stimulus Checks (USD 1,200)” – a reference to a bizarre batch of direct payments to most Americans that had been a central piece of dialogue between Pelosi and the White House.
“I am ready to sign now. Are you listening to nancy? “Trump said on Twitter on Tuesday evening. He urged Congress to approve $ 25 billion for airlines and $ 135 billion for the Paycheck Protection Program to help small businesses.
The stock market fell sharply after Trump pulled the plug on negotiations, but after recovering on Wednesday, he thought about the crumbling aid.
The Treasury’s decision came after a decision was made to negotiate between Treasury Secretary Steven Menuchin and Pelosi when the President was briefed on the scenario for negotiations – and the trauma that any Pelosi-Mannuchin deal could possibly get from his GOP colleagues in Congress Will happen.
White House Chief of Staff Mark Meadows quoted Fox News on Wednesday as saying, “In the last few days it had become clear that a comprehensive bill is just about to come to a point where it doesn’t really have much Republican support.” is.”
“It was more of a Democrat-led bill that would have been problematic, more in the Senate than in the House.”
Pelosi told reporters that “all the president wants is his name on the check” for direct aid payments.
The unexpected turn could be a setback to the prospects of Trump’s reelection and comes as his administration and campaign are in turmoil.
Trump is quarantining in the White House with a case of coronovirus, and the latest batch of polls show him with Democrat Joe Biden four weeks away from the election.
Trump returned immediately after speaking with GOP leaders in Congress. Several Republican senators had indicated that they would not be ready to go with any measure that topped USD 1 trillion, and had privately rejected prospects for a GOP subsidiary deal.
Any Pelosi-sponsored agreement worth close to $ 2 trillion would have boosted the potential of a GOP uprising if such a plan came to a vote.
Pelosi and Mnuchin briefly spoke about a lone airline rescue opportunity Wednesday morning, tweeted Pelosi spokesman Drew Hamill.
Pelosi directed Mnuchin to a measure he attempted to pass on short notice under fast-track procedures on Friday, but only after Republicans made several changes by Democrats who did not like it.
Negotiations have been troubled since their opening in July and no agreement was reached between the two sides.
Pelosi was seeking to host Democratic priorities on food aid, unemployment benefits, help from renters and homeowners, and aid to state and local governments. Republicans alleged that she was pulling talks ahead of the November 3 election to deny Trump a political victory.
In early March, the virus aided in the economy lockdown by a huge margin. After that, Trump and several of his GOP allies focused on loosening social and economic sanctions as the key to recovery rather than more taxpayer-funded aid.
Nevertheless, the decision to stop the negotiations can be politically dangerous. While the stock market has largely closed its path after catering in the early weeks of the crisis, unemployment stands at 7.9%, and the nearly 11 million jobs that have been lost since the onset of the epidemic exceeded that number. At the time when the country was in decline, the entire 2008-09 Great Recession. Compared to the economy, most economists expected the economy to pick up in March due to the approved aid in the USD 2 trillion package.
According to Opportunity Insights data, USD 1,200 incentive checks, supplementing USD 600 unemployment benefits every week, and small businesses to boost household incomes and pay bills to many low-income Americans and hire and maintain their overall spending Enables
But recovery has slowed, and some areas such as restaurants, hotels, theaters and airlines are in poor condition, shedding jobs and endangering permanent attainment.
Without much stimulus, economists expect the pace of growth to slow significantly in the last three months of the year.
Gregory Dako, chief US economist at consulting firm Oxford Economics, said, “You are going to see a very significant change in terms of growth. It would “really risk a double-dip recession.”
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