The Trump administration is stepping back from negotiations on a new stimulus package and leaving it to Senate Majority Leader Mitch McConnell to revive long-stalled talks with House Speaker Nancy Pelosi, according to people familiar with the situation.
While the White House probably would consult with GOP lawmakers on details of a Covid-19 relief bill, it’s now unlikely to take the lead on talks, according to the people, who spoke on condition of anonymity to discuss internal deliberations. The White House would only take over if negotiations have to be restarted completely, the people said.
The White House didn’t respond to multiple requests for comment.
The move greatly diminishes the chances of a trillion-dollar or more stimulus for the U.S. economy before January. President Donald Trump had committed to pursuing a large-scale stimulus after the election, even saying he would approve a $2 trillion bill, but has since focused on attempting to overturn President-elect Joe Biden’s victories in battleground states.
143,231 in U.S.Most new cases today
+5% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.8001 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
4.7% Global GDP Tracker (annualized), Sept.