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  • Writer's pictureD. Brit

Pelosi Sets 48-Hour Deadline to Approve Stimulus Before Election

What Happened:

  • On Sunday, House Speaker Nancy Pelosi announced that an agreement must be reached with Treasury Secretary Steve Mnuchin within the next 48 hours if both parties wish to pass a new Covid-19 stimulus bill before the Presidential Election.

  • In an interview with ABC, Pelosi said "The 48 [hours] only relates to if we want to get it done before the election, which we do...But we're saying to them...are we going with it or not?"

  • On Saturday, Senate Majority Leader Mitch McConnell announced there would be a vote on specific stimulus measures, including another round of Paycheck Protection Program for small businesses, on Tuesday and Wednesday.

  • Democrats have been pushing for a larger stimulus bill of over $2 Trillion rather than piecemeal portions of the bill individually. Republicans have been unwilling to pass a bill that high.

  • As unemployment numbers rise and enhanced unemployment insurance runs out, many small businesses are closing and the pressure to pass a new stimulus bill has become increasingly urgent.

  • Mnuchin and Pelosi met on Saturday for 1 hour to negotiate the new stimulus bill but have yet to reach an agreement.

Developing Story

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