/Capitol Report: Mnuchin calls Congress ‘very close’ to coronavirus stimulus deal as talks intensify

Capitol Report: Mnuchin calls Congress ‘very close’ to coronavirus stimulus deal as talks intensify


Getty Images

Treasury Secretary Steven Mnuchin says a deal needs to be done ‘today.’

Democrats and Republicans are “very close” to agreeing on a major congressional stimulus package to fight the economic impact of the coronavirus, Treasury Secretary Steven Mnuchin said Monday.

“I think we’re very close. We need to get this deal done today,” Mnuchin told CNBC.

A test vote on the massive aid package failed Sunday night in the Senate, but negotiations continued Monday as Mnuchin met with top Senate Democrats and Republicans. The final bill could end up close to $2 trillion, Mnuchin said.

‘We need to get this deal done today.’


– Treasury Secretary Steven Mnuchin

Democrats like Sen. Elizabeth Warren said Republicans were trying to advance a bill that “would be great for giant corporations and leave everyone else behind.”

Democrats want to add provisions such as expanding unemployment insurance to four months at 100% pay and boost aid to hospitals. Republicans sought to provide $500 billion for the Treasury to make loans or investments to support businesses.

The Senate plans to reconvene at noon and has a series of votes scheduled.

U.S. stocks

DJIA, -2.78%

opened lower on Monday, even after the Federal Reserve announced it would purchase an unlimited amount of Treasurys and mortgage-backed securities in order to support the financial markets.

Original Source