On The Money: Top Democrat says party flexible on unemployment benefits | GOP leader wants FBI money out of relief bill

Happy Tuesday and welcome back to On The Money. I’m Naomi Jagoda, filling in for Sylvan Lane, with your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at njagoda@digital-staging.thehill.com or tweet me @njagoda. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@digital-staging.thehill.com, njagoda@digital-staging.thehill.com and nelis@digital-staging.thehill.com. Follow us on Twitter: @SylvanLane, @NJagoda and @NivElis.

THE BIG DEAL — Hoyer says Dems flexible on jobless benefits: ‘It’s not $600 or bust’

House Majority Leader Steny Hoyer (D-Md.) said Tuesday that Democrats are not insisting $600 federal unemployment payments be included in the massive coronavirus relief package under negotiation between the two parties.

In a CNN interview, Hoyer hammered the $1 trillion emergency relief package, unveiled Monday by Senate Republicans, as grossly inadequate for meeting the health and economic needs of a country that’s been ravaged on both fronts.

The GOP measure includes a $200 weekly bump above state unemployment insurance benefits — a third of the additional federal payment included in the $2.2 trillion CARES Act, which passed with overwhelming bipartisan support in late March.

Yet Hoyer also indicated that Democrats, while opposed to the $200 figure, aren’t married to the initial $600, either.

“It’s not $600 or bust,” he said on CNN’s “New Day” program. “Speaker [Nancy] Pelosi [D-Calif.] said the other day, which I thought was a great line, ‘We don’t have red lines. We have values. And we’re going into these negotiations with values.'”

Read more from The Hill’s Mike Lillis here.

More on what Democrats are saying about the Republican coronavirus relief proposal:

• Top Democrat: Stimulus payments in GOP plan shortchange dependents

• Pelosi, Schumer say GOP Senate coronavirus bill is ‘selling out working families’

• GOP’s relief package hits wall in talks with Schumer, Pelosi

LEADING THE DAY – McConnell wants FBI money out of coronavirus bill

Senate Majority Leader Mitch McConnell (R-Ky.) says he wants the $1.75 billion in funding for a new FBI headquarters in downtown Washington removed from the GOP’s coronavirus relief package.

Speaking to reporters on Tuesday, McConnell said he hopes that provision and other “non-germane” items will be removed from the legislation before it’s sent to President Trump’s desk.

“I am opposed to non-germane amendments, whether it’s funding for the FBI building or, for example, in the House bill, whether it’s a tax cut for high-income earners in blue states or other non-germane amendments in the House bill like marijuana studies or aid to illegal immigrants,” McConnell told reporters after GOP senators met for lunch with Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows, who are involved in negotiations with congressional Democrats on the COVID-19 package.

The Hill’s Alexander Bolton has more about McConnell’s comments here.

Related: GOP senators question inclusion of FBI funding in coronavirus bill

Biden rolls out plan to combat racial inequity in economy 

Former Vice President Joe Biden’s presidential campaign rolled out his plan to combat racial inequity in the nation’s economy on Tuesday as a part of his wide-ranging “Build Back Better” economic plan. 

The latest economic proposal focuses on improving racial equity for communities of color who have dealt with longstanding economic inequality and fallout over the coronavirus pandemic. 

The Hill’s Julia Manchester has more information about the plan here.

CHECK OUT THE HILL’S UPCOMING EVENT:

American Resilience: The Future of Small Business – Thursday, July 30 

Small businesses are fundamental to the idea of America. What steps should be taken to ensure that businesses that really need the help are receiving aid, particularly minority-owned businesses that are often overlooked?  On Thursday, July 30, The Hill Virtually Live hosts a discussion on public and private efforts to support America’s entrepreneurs featuring Sen. Jeanne Shaheen and Rep. Steve Chabot. RSVP today: smallbusinessresilience.splashthat.com/thehill

GOOD TO KNOW:

• A record high price for gold, known as the currency of last resort, is raising questions about the U.S. dollar’s future as the world’s reserve currency, according to a Goldman Sachs research note published Tuesday.

• House Democrats will pull the homeland security spending bill from a seven-bill spending package to be considered on the floor this week.

• Consumer confidence took a dive in July as new coronavirus outbreaks emerged in several states, according to The Conference Board.

• Stock markets closed lower on Tuesday, as Democrats and Republicans worked to hash out details of the next COVID-19 relief bill.

FROM THE HILL’S OPINION SECTION:

Donald Trump’s double dip recession, by Desmond Lachman, a resident fellow at the American Enterprise Institute.

The hustle of digital microbusinesses is helping communities survive the pandemic, by Aman Bhutani, chief executive officer of GoDaddy.

COVID-19 flipped the market on its head, but your financial goals don’t have to be, by David Flores Wilson, a managing partner at Sincerus Advisory.