10 things you need to know today: August 8, 2020

Stimulus bill talks hit another dead end after 2 weeks of negotiations, Intel official: Russia boosting Trump, China 'prefers' he lose re-election, and more

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer.
(Image credit: MANDEL NGAN/AFP via Getty Images)

1. Stimulus bill talks hit another dead end after 2 weeks of negotiations

Congressional Democrats and White House leaders were again unable to agree on terms for the next CARES Act on Friday, closing out a second week of negotiations while remaining gridlocked. Democrats don't have the votes to support any bill under $2 trillion and Republicans won't accept anything over it. While Democrats offered to slash $1 trillion off their $3.4 trillion proposal if Republicans added $1 trillion to theirs to meet in the middle, White House officials refused, House Speaker Nancy Pelosi (D-Calif.) said. Democrats previously rejected Republicans' standalone measure to temporarily continue the $600/week unemployment boost that has now expired. White House officials said they had advised President Trump to take unilateral action on stimulus measures, however, Trump likely doesn't have the power to allocate funding via executive action.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.