Treasury Secretary Steven Mnuchin on Thursday said he will soon resume talks with House Speaker Nancy Pelosi (D-Calif.) about another coronavirus relief package.
Mnuchin told the Senate Banking Committee that he has "probably spoken to Speaker Pelosi 15 or 20 times in the last few days" on a continuing resolution to extend government funding, and "we've agreed to continue to have discussions about the CARES Act." He also asked Congress to give him the authority to distribute $130 billion in unused Paycheck Protection Program funds to provide loans to small businesses hit particularly hard by the coronavirus pandemic. The deadline to apply for PPP loans was Aug. 8.
Pelosi told reporters that she will "hopefully soon" start negotiations with Mnuchin, and for now is talking with her caucus and leadership. "We'll see what we're going to do," she said. "But we're ready for a negotiation. That's what we're ready for."
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Top Democrats spent Thursday working on a $2.4 trillion relief package that could be used in negotiations or be voted on as a stand-alone package sometime soon, a senior Democratic aide told The New York Times. The House approved a $3.4 trillion rescue measure in May, which Republicans said was bloated and had no chance of passing the Senate.
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