The White House and Democrats have made some progress in their talks to provide another round of fiscal stimulus before the Nov 3 election.
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin had a 45-minute conversation Tuesday to discuss a potential coronavirus relief package.
With Election Day in less than two weeks, analysts worry there is not enough time to come to terms on a deal before the election.
Both parties have proposed trillions of dollars in stimulus aid but remain divided over how much money is needed to help the country. Heading into the talks Tuesday, Democrats are proposing $2.2 trillion in relief, while the White House is offering a number around $1.9 trillion.
Not reaching a deal before the election could lead to negotiations being tabled until early next year, according to Garrett Watson, a senior policy analyst at the Tax Foundation.
One area both sides do agree on, however, is another round of stimulus checks modeled after the ones issued earlier this year.
“There is broad agreement about the potential for stand-alone payments,” said Watson. Both parties are in favor of direct payments modeled closely after the first checks that were issued under the CARES Act that passed in March, according to Watson.
Check out this video to learn how likely Congress is to pass a stimulus bill before the election and to see what could happen if new checks are not approved prior to the Nov. 3 election.
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