'We're prepared to put more money on the table': Mnuchin says Trump administration is open to resume talks on coronavirus stimulus

ReutersSteve Mnuchin walks toward the White House in Washington
  • Treasury Secretary Steven Mnuchin said that the Trump administration is willing to resume talks with Democrats over the next coronavirus stimulus bill in a Monday interview with CNBC.
  • “The president is determined to spend what we need to spend,” Mnuchin said. “We’re prepared to put more money on the table.”
  • Mnuchin declined to comment on the timeline of when discussions would resume between himself, White House Chief of Staff Mark Meadows, and House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.
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The Trump administration is open to resuming talks on the coronavirus stimulus package with Democratic leaders, Treasury Secretary Steven Mnuchin told CNBC in an interview Monday.

In addition, they’d be willing to offer more money in an attempt to reach a compromise, he said.

“The president is determined to spend what we need to spend,” Mnuchin said. “We’re prepared to put more money on the table.”

Mnuchin declined to comment on the timeline of when discussions would resume between him, White House Chief of Staff Mark Meadows, and House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer. Negotiations halted Friday after Democrats and Republicans failed to come to a deal on the next stimulus package.

One area where the two sides did not agree was on how to extend the additional $US600 weekly unemployment insurance benefit that expired at the end of July, slashing income for millions of Americans. Democrats wanted to extend the benefit in full, while Republicans wanted a lower amount.


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The total cost is also in question. While Democrats last week were pushing for a $US3 trillion bill, Republicans’ proposal would cost about $US1 trillion. On Friday, Pelosi and Schumer said the White House rejected a $US2 trillion coronavirus deal, The Hill reported.

Mnuchin said that both sides have agreed on a number of details in the bill, including more money for the Paycheck Protection Program to help small businesses and another round of direct checks to American households. In addition, they are working on compromises for funding for food and coronavirus vaccines.

“There’s a deal to do if the Democrats are reasonable and willing to compromise,” Mnuchin said. “If we can get a fair deal we’ll do it this week.”

Over the weekend, President Donald Trump passed four executive actions to extend aid after Congress failed to come to an agreement. The orders included a reduced $US300 weekly unemployment benefit, with an additional $US100 coming from states, as well as a ban on evictions, temporary payroll tax holiday, and deferral of student loan payments.

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