President Trump announced Tuesday that he has halted negotiations with Democrats for a new round of federal coronavirus aid, tweeting that Speaker Nancy Pelosi “is not negotiating in good faith” and is seeking too much money.
In a series of tweets, Trump said he is “rejecting” a request for a $2.4 trillion package, which is far more money than the $1.6 trillion offer from Treasury Secretary Steve Mnuchin, who has been negotiating on behalf of the president.
Trump said he plans to pass a “major stimulus bill” after he wins a second term “that focuses on hardworking Americans and small businesses.”
Mnuchin and Pelosi, a California Democrat, have made little progress toward a deal on more federal aid.
Trump’s announcement means there won’t be a new round of stimulus checks or more money for schools, day care, or coronavirus-related health costs between now and next year.
Pelosi has said Republicans and Trump are not offering enough federal aid to meet the growing needs from the affect of the coronavirus. Republicans accuse Pelosi of refusing to agree to a deal in order to hurt Trump and the GOP ahead of the Nov. 3 election.
House Democrats passed a $3 trillion coronavirus aid package in May and a pared-down, $2.2 trillion bill last week. Pelosi has called for as much as $3.7 trillion in new spending, including $1 trillion for state, local, and tribal governments to make up for revenue losses from lockdowns.
On Tuesday, Pelosi quoted Fed Chairman Jerome Powell, who called for a new round of stimulus spending that would be adequate to meet the nation’s needs.
“Chairman Powell’s warning could not be more clear: Robust action is immediately needed to avert economic catastrophe from the devastation of the coronavirus pandemic,” Pelosi said.
