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    Trump Raises Relief Package To $1.8 Trillion

    October 9, 2020
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    Image by Shealah Craighead

    Following his return to the White House from Walter Reed Military Medical Center, President Trump pulled the plug on the negotiation deal for a second coronavirus spending bill. While he offered Speaker Nancy Pelosi a chance to pass individual bills for stimulus checks and the airline business, she shut them down. And now, it seems like President Trump is back at the negotiation table, and has upped the amount of money he is willing to sign into law. 

    In a tweet of Friday, President Trump wrote, “Covid Relief Negotiations are moving along. Go Big!” While the Democrats passed a second $2.2 trillion dollar bill last week, the White House has kept on talks about how there could be a compromise. 

    Speaking to reporters, White House Economic Adviser Larry Kudlow said, “The developments are very positive, they are very constructive. This is breakthrough stuff and it happened this morning.”

    According to reports, Steve Mnuchin has been in communication with Speaker Nancy Pelosi during the last few days. But while Majority Senate Leader Mitch McConnell doesn’t believe a second bill will pass before the election, Pelosi is hopeful. 

    In an interview with MSNBC, Pelosi said, “The devil and the angels are in the details. And so part of it is about money, and part of it is about policy. And so we'll continue our conversation today, because it is so necessary to meet the needs of the American people.”

    Why this matters: COVID-19 is obviously a top priority for majority of Americans right now. Passing another relief bill would aid economic recovery, as Kudlow has said, but it is not dependent on it. The Democrats are hoping to use the leverage they have during the lockdown to pass a large spending bill, and are reluctant to give up their negotiation power during this time. But for Senate Republicans, they are skeptical about passing more government spending. The biggest issue is within the Senate. And while McConnell brought a vote for a lesser bill in the Senate, he needs the Democrats’ in the House’ support. 



    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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