House Speaker Nancy Pelosi, Treasury Sec. Steven Mnuchin continue discussions on stimulus proposals
CNBC's Ylan Mui reports on the latest talks between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke Wednesday morning but again did not strike a deal on coronavirus stimulus. The pair talked by phone and had “productive” discussions about language in relief proposals delivered over the weekend, Pelosi spokesman Drew Hammill said in a tweet. He added that “one major area of disagreement continues to be that the White House lacks an understanding of the need for a national strategic testing plan” for Covid-19. Pelosi and Mnuchin, the lead negotiators in aid talks between the White House and congressional Democrats, plan to speak again Thursday. Mnuchin said Wednesday that he and Pelosi “had a comprehensive discussion on a lot of issues.” “We continue to make progress on certain issues, but on certain issues we continue to be far apart,” he told the Milken Institute Global Conference. The Treasury secretary, who over the weekend urged Congress to allow businesses to access a second Paycheck Protection Program loan from $130 billion in unused funds, said the “all or nothing approach” on legislation “doesn’t make sense.” Even as he called for immediate, “targeted” aid, Mnuchin conceded that “getting something done before the election and executing on that would be difficult.” The negotiators have made a last-ditch push to reach a stimulus agreement before the 2020 election. But the chances of Congress passing new aid before Nov. 3 have slimmed as the Republican-held Senate pushes to vote on a more narrow plan than either the White House or Democrats have proposed. While Trump earlier this month scrapped talks until after the election, he reversed course as he faces a difficult bid for a second term in the White House. Pelosi, whose party passed a $2.2 trillion relief bill in the House, has dismissed the White House’s latest $1.8 trillion proposal as inadequate. Congress has not passed new relief funds in months as the coronavirus spreads throughout the country and millions of Americans remain unemployed after shutdowns designed to slow the outbreak. » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: https://www.cnbc.com/2020/09/29/the-n... Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC For info on the best credit cards go to CNBC Select: https://www.cnbc.com/select/best-cred... #CNBC #CNBCTV
