White House and Donald Trump have been contemplating the virus-relief proposal. The recent decision in the matter has drawn-up the proposal of $1.8 trillion. House Speaker Nancy Pelosi said that she planned to review the administration’s overall plan. The coronavirus has taken a toll on the entire world. Where the countries have seen a downward trend in the economic state, they are now planning to redeem themselves. This involves extensive study on the proposed vaccinations and making them available to the general public. The coronavirus-relief packages will play a huge role in the same.
White House offers a new plan
On Friday, October 9, 2020, the White House increased its offer to the Trump government. This plan will pass aid to the households and businesses before the Presidential election. The proposal of $1.8 trillion was presented before House Speaker Nancy Pelosi (D., Calif.) on Friday. It is the largest bid the current administration has made to Democrats after months of conversations. She had a half-an-hour in-depth discussion with Treasury Secretary Steven Mnuchin.
Covid Relief Negotiations are moving along. Go Big!
— Donald J. Trump (@realDonaldTrump) October 9, 2020
The news circulated via White house spokeswoman Alyssa Farah. The proposal includes $1.88 trillion in spending and $400 billion of unspent money funds. The total cost has amounted to $1.5 trillion. Currently, the entire US administration is focused on the upcoming November Presidential elections. The Senate, on the other hand, wants to put Amy Coley Barrett at the SC Judge’s seat. The negotiations on language on a COVID-19 public health plan and overall funding level. The administration wants to keep the funding level below $2 trillion. However, the new offer from White House is a beam of hope to the lawmakers pressing the administration.
Of special concern, is the absence of an agreement on a strategic plan to crush the virus. For this and other provisions, we are still awaiting language from the Administration as negotiations on the overall funding amount continue. (2/2)
— Drew Hammill (@Drew_Hammill) October 9, 2020
Need a balance between Democrat demands and the Republican majority
The passing of the offer has to have a balance between Democrat wants of adequate money on health-care and economy revival, and Republican Senate. Senate Majority leader Mitch McConnell said that another stimulus package is unlikely to come in the next three weeks. Pelosi wants at least $436 billion in relief for cash-crunched local governments, however, Trump wants to allocate the usual $150 billion. Democrats further want the federal unemployment insurance of $600 per week. However, Republicans and White House want to supplement $400 per week.
Furthermore, food, tax credits, are some of the other grave issues which are not in alignment need to happen asap. The economy of the States has been quite under the weather. Be it the rising unemployment, declining major industries like Airlines, or rising COVID cases. Hence, a proper accord between the two Houses needs to happen. If not, it will lead to “weak recovery creating unnecessary hardship fro households and businesses.”