AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
World

Mnuchin, Pelosi to meet, raising hopes of end to US aid deadlock

  • Democrats earlier this week unveiled a $2.2 trillion aid proposal, more than $1 trillion less than they had initially wanted to spend.
Published October 1, 2020

WASHINGTON: US Treasury Secretary Steven Mnuchin said he was hopeful that a deal on additional aid for the US economy could be reached, ahead of a meeting with House Speaker Nancy Pelosi aimed at breaking weeks of deadlock in Congress.

President Donald Trump's administration and Democratic leaders have been trying to agree on a follow-up to the $2.2 trillion CARES Act passed as the coronavirus pandemic intensified in March, after key provisions of the law that have been credited with bolstering the economy expired.

Mnuchin and Pelosi were to meet in the speaker's office on Wednesday afternoon, a source familiar with the matter told AFP, with the Democrats controlling the House of Representatives aiming to bring their latest aid proposal to the floor of the chamber later in the day.

After weeks of faltering negotiations, progress was made this week after Mnuchin and Pelosi resumed talks on Monday and Tuesday and vowed to continue speaking.

In an interview with CNBC on Wednesday morning, Mnuchin said he was "hopeful" over the talks' prospects, and that "We're going to give it one more serious try to get this done."

"I think there is a reasonable compromise here. It's something that the president very much wants to get done," he said.

Democrats earlier this week unveiled a $2.2 trillion aid proposal, more than $1 trillion less than they had initially wanted to spend.

The move was aimed at satisfying Trump and Republicans, who don't want to spend more than $1 trillion to further aid the economy. The most recent stimulus bill, passed at the end of April, totaled $500 billion.

"In many cases, we do have things that we agree on, and we have things that there are differences, and we're trying to see if both of us can manage a package that gets some of what everybody wants," Mnuchin said.

Comments

Comments are closed.