Mnuchin Pitches New $916 Billion Stimulus Package to Pelosi

(Bloomberg) — Treasury Secretary Steven Mnuchin said he presented a new $916 billion Covid-19 relief proposal to House Speaker Nancy Pelosi, in the first move by the Trump administration since Election Day to break a months-long standoff.

Mnuchin said in a tweeted statement that he had conferred with Republican congressional leaders on the plan, as well as President Donald Trump. He said that he spoke with Pelosi at 5 p.m. Tuesday.

“This proposal includes money for state and local governments and robust liability protections for businesses, schools and universities,” Mnuchin said in his statement. Those two issues have been the two key roadblocks in bipartisan talks on a $908 billion proposal put forth last week.

Senate Majority Leader Mitch McConnell earlier Tuesday had floated the idea of setting aside the two elements in a final 2020 aid package — something Democratic leaders quickly rejected.

Liability protections have been a key priority for McConnell, but opposed by Democrats. Republicans, meantime, have criticized helping states as an improper bailout.

Mnuchin said that he and White House Chief of Staff Mark Meadows had “reviewed” the $916 billion proposal with Trump, McConnell and House Republican leader Kevin McCarthy.

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