Treasury Secretary Steven Mnuchin said Monday that he believes Democrats are “willing to compromise” on a fourth coronavirus stimulus package, saying that if there is a “fair deal,” the Trump administration will “do it this week.”
The clock is ticking for both parties to meet their self-imposed Friday deadline to cut a deal on the next round of emergency aid.
The negotiators are trying to resolve the differences between the $3.5 trillion House-passed HEROES Act and the $1 trillion HEALS Act introduced by Senate Republicans last week.
House Speaker Nancy Pelosi said the two sides can't even agree on the basics.
Treasury Secretary Steven Mnuchin told "Fox News Sunday" that a Republican version of a coronavirus Phase 4 stimulus bill will be introduced Monday.
The treasury secretary said President Trump’s request for a payroll tax cut will not be included in the fourth coronavirus stimulus bill, while hinting a fifth package could be on the horizon.
Treasury Secretary Steven Mnuchin on Tuesday said the Trump administration is prepared to “spend what we need to spend” in the next coronavirus relief package, which officials hope to be complete by the end of the month.
Speaking alongside President Trump, Vice President Mike Pence, Senate Majority Leader Mitch McConnell and House Minority Leader Rep. Kevin McCarthy in the Oval Office, Mnuchin said that “the focus is kids and jobs,” and that the goal is to have it in place by the end of this month.
Larry Kudlow, a long-time advocate of lowering taxes as a way to promote growth, is pushing for a payroll tax cut as a key part of the plan to spur economic growth amid the four-month-long pandemic recession.
Unlike previous Treasury secretaries, Steven Mnuchin did not have a long history of working in public service before moving to Washington.
The administration may cap unemployment benefits at no more than 100 percent of a worker's salary in the next virus relief bill.
In the past week, Trump has vocalized his support for a second stimulus check -- even as the economy starts to gradually improve.
The remaining $135 billion in the PPP may be repurposed as the economic fallout from the pandemic continues, Treasury Secretary Steven Mnuchin said Tuesday.
The SBA is expected to release a tranche of data on Thursday revealing which business owners received PPP loans.
By extending the deadline, the federal government allowed individuals and businesses to hold onto their cash longer as they deal with the fallout from the outbreak of the virus.
Treasury Secretary Steven Mnuchin told Lou Dobbs Monday that there is energy within the Trump administration to hold China accountable for the coronavirus pandemic.
The Trump administration has relented to public pressure and pledged to provide more details about which small businesses received loans.
The Small Business Administration has so far not made public the list of roughly 4.6 million businesses that have received more than $512 billion from the pandemic emergency lending program since early April
Mnuchin came under fire when he said the Trump administration would not reveal the names of companies and nonprofits that got the Paycheck Protection Program loans.
Despite recent protests nationwide for justice for African-Americans, Treasury Secretary Steven Mnuchin said on Thursday there is no plan to speed up production of a new version of the $20 bill featuring American abolitionist Harriet Tubman.