Pelosi, Schumer, Mnuchin optimistic about agreement on next round of coronavirus aid

Jake Tapper and Steven Mnuchin. — (Image credit: Screenshot/CNN)

House Speaker Nancy Pelosi (D-Calif.), Senate Minority Leader Chuck Schumer (D-N.Y.), and Treasury Secretary Steven Mnuchin all expressed optimism Sunday that lawmakers are closing in on a bipartisan agreement for the next round of coronavirus aid.

During an appearance on ABC's This Week, Pelosi said leaders on both sides of the political aisle are "very close" to securing a solution. Pressure has been mounting for Congress to end its stalemate and pass the next phase of funding quickly; the small business relief fund has been depleted, and 22 million Americans have lost their jobs over the last month. But Republicans and Democrats have clashed over the latter's preference to include more money for state and local governments, as well as hospitals.

Mnuchin echoed Pelosi's sentiment, telling CNN's Jake Tapper the Trump administration and congressional leaders have a $400 billion dollar deal in the works, which includes $300 billion for the Paycheck Protection Program for small business that saw its money drain last week, $75 billion for hospitals, and $25 billion for testing. The money for cities and states didn't appear to make it into that framework, although discussions are reportedly still ongoing. Mnuchin is hoping the Senate passes the agreement on Monday, and the House on Tuesday.

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Schumer said he and Pelosi have "made very good progress" in their talks with Mnuchin, noting that there's a chance they could finalize things by Sunday night or Monday morning. Tim O'Donnell

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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.