[Image](
EMAIL}/redirect
Posted on Sunday, July 26th, 2020 By Lisa Mascaro And Darlene Superville, Associated Press
WASHINGTON (AP) â House Speaker Nancy Pelosi on Sunday assailed Republican âdisarrayâ over a new pandemic relief package as the White House suggested a narrower effort might be necessary, at least for now.
The California Democrat panned the Trump administration's desire to trim an expiring temporary federal unemployment benefit from $600 weekly to about 70% of pre-pandemic wages. âThe reason we had $600 was its simplicity,â she said from the Capitol.
The administration's chief negotiators â White House chief of staff Mark Meadows and Treasury Secretary Steven Mnuchin â spent a few hours at the Capitol later Sunday to put what Meadows described as âfinal touchesâ on a $1 trillion relief bill Senate Majority Leader Mitch McConnell is expected to bring forward Monday afternoon.
âWeâre done,â Mnuchin said as he and Meadows left Capitol Hill after meeting with GOP staff.
Meadows said as the White House was âlooking for clarityâ on a âhandfulâ of remaining issues ahead of Monday. âWe have an agreement in principle,â he said.
Both Mnuchin and Meadows said earlier Sunday that narrower legislation might need to be passed first to ensure that enhanced unemployment benefits donât run out for millions of Americans. They cited unemployment benefits, money to help schools reopen, tax credits to keep people from losing their jobs, and lawsuit protections for schools and businesses as priorities.
EMAIL}/redirect
EMAIL}/redirect
Pelosi has said she opposes approving a relief package in piecemeal fashion.
âWe can move very quickly with the Democrats on these issues,â Mnuchin said.
Separately, White House economic adviser Larry Kudlow said a federal eviction moratorium on millions of rental units, due to expire at the end of the month, will be extended. âWe will lengthen it," he said, without specifying for how long.
Republicans have argued that federal jobless benefits should be trimmed because the combination of state and federal unemployment assistance left many people better off financially than they were before the pandemic and therefore disinclined to return to their jobs.
Many Democrats contend that a lot of people don't feel safe going back to work when the coronavirus is surging again around the country.
A former Republican congressman from North Carolina, Meadows said he is working with Mnuchin and Labor Secretary Eugene Scalia to address complaints that outdated state computer systems will make it difficult for the jobless to get their benefits in a timely fashion if the formula is changed.
âItâs our goal to make sure that itâs not antiquated computers that keep people from getting their benefits,â Meadows said.
EMAIL}/redirect
EMAIL}/redirect
Pelosi criticized the hold-up on the GOP side. House Democrats passed a $3 trillion relief package a couple of months ago, with the aim of jump-starting negotiations. Republicans abruptly halted rollout of their bill last week amid differences between senators and the White House.
âTheyâre in disarray and that delay is causing suffering for Americaâs families,â Pelosi said.
She declined to say whether she could accept 70% of wages in place of the now-expired $600 weekly benefit.
âWhy don't we just keep it simple?" she asked, referring to a flat dollar amount.
Republican Sen. Ted Cruz of Texas said he doesn't support the GOP legislation as proposed. He argued for lifting taxes and regulations he says are âhammeringâ small businesses. Cruz also argued for a payroll tax cut, which will not be in the bill. President Donald Trump had insisted on a temporary trim of payroll taxes, but both parties resisted the idea.
Cruz alleged that Pelosi isn't working to solve either the virus crisis or the economic one.
âHer objectives are shoveling cash at the problem and shutting America down,â he said. âIt's just shoveling money to her friends and not actually solving the problem.â
The White House and Senate Republicans were racing to regroup after plans to introduce a $1 trillion virus rescue bill collapsed Thursday during GOP infighting over its size, scope and details.
It was expected to bring $105 billion to help schools reopen, new money for virus testing and benefits for businesses, including a fresh round of loans, tax breaks and a sweeping liability shield from COVID-19-related lawsuits.
The expiration of the $600 weekly jobless benefits boost had been propelling the Republicans to act. Democrats already approved their sweeping $3 trillion plan from Pelosi two months ago. But with millions of Americans about to be suddenly cut off from the aid, they were bracing to prevent social and economic fallout.
The White House floated plans to cut the additional aid back to $100 a week, while Senate Republicans preferred $200, with general GOP agreement about phasing out the flat boost in favor of one that ensures no more than 70% of an employee's previous pay.
Apart from jobless benefits, Mnuchin said Saturday that new $1,200 direct payments would be based on the same formula from the earlier aid bill. Then, people making $75,000 or less received the full amount and those making more than $75,000 received less, depending on their income. People earning above $100,000 did not qualify for the payment.
The jobless benefit officially expires July 31, but due to the way states process unemployment payments, the cutoff was effectively Saturday.
___
Meadows spoke on ABC's âThis Week,â Mnuchin was on âFox News Sunday,â Pelosi and Cruz appeared on CBS' âFace the Nationâ and Kudlow was interviewed on CNN's âState of the Union.â
___
Superville reported from Bridgewater, New Jersey. Associated Press writer Hope Yen in Washington contributed to this report.
EMAIL}/redirect
EMAIL}/redirect
To get Exclusive Offers make sure you grab your cellphone (which you are probably doing right now) and join our VIP text messaging list (standard text and messaging rates may apply)to make it even easier, if you are on your cell phone now click this Button Below:
[SIGN ME UP NOW](
© 2020 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of this website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information included on this website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that owners, employees and writers of and for PTE, LLC may have long or short positions in securities that may be discussed on this website or newsletter. Past results are not indicative of future profits. This table is accurate, though not every trade is represented. Profits and losses reported are simulated figures from virtual simulated portfolios. We are engaged in the business of advertising and promoting companies for monetary compensation. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. PTE.laâs sponsored advertisements do not purport to provide an analysis of any companyâs financial position, operations or prospects and this is not to be construed as are commendation by PTE.la or an offer or solicitation to buy or sell any security. Neither the owner of PTE.la nor any of its members, officers, directors, contractors or employees is licensed broker-dealers, account representatives, market makers, investment bankers, investment advisors, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewerâs entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the companyâs filings with the Securities and Exchange Commission. However, acompanyâs past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (âSECâ) website www.sec.gov and the Financial Industry Regulatory Authority (âFINRAâ) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website.
PTE Team
9 Downing street
Newark NJ 07105
USA
[Unsubscribe]( | [Change Subscriber Options](