White House open to new Bloomberg $ 1.5 trillion stimulus deal proposal

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© Reuters.

(Bloomberg) – The White House is open to a $ 1.52 trillion stimulus compromise proposal designed to break the months-long standoff over economic relief to the U.S. economy, the chief said Staff Mark Meadows.

The long-term plan of a group of 50 Democratic and Republican House MPs, whose total spending is higher than what the administration had previously approved, is not a “crush”, said Meadows said Wednesday on CNBC. He has been criticized before by Republicans in the Senate and Democratic House leaders.

President Donald Trump on Twitter urged Republicans on Wednesday to agree to a higher level of spending. Last week, the Senate GOP attempted to pass a bill providing $ 650 billion in new stimulus, which was blocked by Democrats because it was insufficient to deal with the lingering Covid crisis -19.

“Go for the much higher numbers, Republicans, it’s all coming back to the United States anyway (one way or another!),” Trump said.

The Problem Solvers Caucus plan was developed over six weeks with knowledge from the White House and leadership from both sides. But the track record of bipartisan moderates in the House or Senate to negotiate major deals has been poor in recent years.

The proposal offered compromises on the two thorniest issues in the stalled talks between Congressional Democrats and the Trump administration. When it comes to aid to states and local governments, the group is supporting around $ 500 billion, dividing the difference between the $ 915 billion sought by House of Commons Speaker Nancy Pelosi and Minority Leader in Senate Chuck Schumer, and the 150 billion dollars advanced by the White House.

House Majority Leader Steny Hoyer slammed the plan on Tuesday after it was released, saying Democrats should not accept less than $ 2 trillion.

Asked about Trump’s comments on Wednesday, Republican Senate Majority Whip John Thune said: “I guess that means he wants to make a deal.”

Thune said $ 1.5 trillion would cause “a lot of heartburn” for Republicans in the Senate, however.

© 2020 Bloomberg L.P.

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