Mnuchin doubts there will be a coronavirus relief deal before the election


Treasury Secretary Steven Mnuchin on Wednesday said he doesn't think a new coronavirus relief deal will be hammered out before the election.
Mnuchin and House Speaker Nancy Pelosi (D-Calif.) have been trying to reach a deal, and as it stands now, the House passed a $2.2 trillion package on Oct. 1 and the White House offered a $1.8 trillion package last Friday. Pelosi rejected this as being inadequate, saying it doesn't do enough to help the average American and includes tax cuts for the wealthy.
The secretary was asked about this during the Milken Institute's Global Conference, specifically whether he thinks Pelosi won't accept the deal because Democrats don't want to give Trump a boost ahead of the election. "I think that definitely is part of the reality," Mnuchin said. "That's definitely an issue. But the president is very focused on when he wins we will need to do more. So that's part of the reason to continue to work on this. The clock will not stop."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Pelosi and Mnuchin both agree that the next stimulus bill should include $1,200 checks for certain taxpayers, but they are not on the same page regarding state and local aid, unemployment insurance, child care credits, and liability protections. Drew Hammill, Pelosi's deputy chief of staff, tweeted that Pelosi and Mnuchin spoke on Wednesday morning and continue to disagree over the White House and how it "lacks an understanding of the need for a national strategic [coronavirus] testing plan," but will talk again on Thursday.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Art review: Diane Arbus: Constellation
Feature Park Avenue Armory, New York City, through Aug. 17
-
July fiction: Summers to remember
Feature Featuring the latest summer-themed novels from Darrow Farr, Lucas Schaefer, and more
-
Why are flash floods in Texas so deadly?
Today's Big Question Over 100 people, including 27 girls at a summer camp, died in recent flooding
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off