Speaker Nancy Pelosi (D-Calif.) said Monday evening that lawmakers are in the final discussions regarding the language for an interim stimulus package in response to the coronavirus outbreak.
In an interview on CNN’s “Anderson Cooper 360,” Pelosi indicated lawmakers were nearing a final draft of the bill, which aims to refill the coffers of a popular small business loan program that was included in the $2.2 trillion stimulus package and in which Democrats had aimed to include funds for hospitals, coronavirus testing and state and local governments.
“As we speak, we’re in conversation with the final language. We have, I believe, come to terms on the principles of the legislation, which is a good thing. Then — but it’s always in the fine print. And so now we’re down to the fine print,” she told Anderson Cooper.
“But I feel very optimistic and hopeful that we will come to a conclusion tonight, so that it can be taken up tomorrow in the Senate and Wednesday in the House of Representatives. But we can’t go until we have the final agreement. But we’re close,” she added.
Republicans, behind Senate Majority Leader Mitch McConnell (R-Ky.) had wanted a clean bill, including only $250 billion for the Paycheck Protection Program (PPP). Democrats, who have been negotiating in recent days with Treasury Secretary Steven Mnuchin, fought for additional funding for hospitals and state and local governments, as well as stipulations that some of the small business money go to women, minority and veteran-owned businesses.
Mnuchin said Sunday that both sides have agreed on $300 billion in new money for the PPP as well as $50 billion for the agency’s Economic Injury Disaster Loan program.
But Democratic demands for a $30 billion national coronavirus testing program and $150 billion to fund state and local governments remained as stumbling blocks Monday.
McConnell blamed Democrats for the slow pace of the legislation on Monday, accusing the party of holding up progress in the House.
“At this hour, our Democratic colleagues are still prolonging their discussions with the administration, so the Senate regretfully will not be able to pass more funding for Americans’ paychecks today,” McConnell said.