COVID-19 Relief Negotiations

It was a very confusing week for continued negotiations on an additional COVID-19 relief package. Negotiations were continuing between Speaker of the House Nancy Pelosi (D-CA) and Treasury Secretary Steven Mnuchin when the President—back at the White House after receiving treatment for COVID-19 over the weekend—stated Tuesday on Twitter that he had told negotiators to halt conversations until after Election Day. Senate Majority Leader Mitch McConnell (R-KY) also stated this week that he thought an additional relief package “unlikely” before the Election.

But then, President Trump seemed to reverse course and began tweeting his support for a “big” COVID relief package, and there are now reports in the press that the President has supported a package totaling $1.8 trillion. You will remember that the House of Representatives passed two COVID relief packages, one over $3 trillion and another estimated at $2.2 trillion. Negotiations will continue and we will update you on the content of a package, should an agreement be reached.

At the risk of being repetitive, negotiations have continued for yet another week around an additional COVID-19 relief package, with hopes dimming that a deal can be struck between the White House, the House of Representatives, and the Senate in the two and a half weeks before the Election.

Even if the House of Representatives and the White House could agree on a package, however, it is unclear that even a package over $1 trillion would get support in the Senate. Senate Majority Leader Mitch McConnell (R-KY) has stated that the Senate will vote next week on a $500 billion measure that he said will provide money for the Paycheck Protection Program, hospitals, and schools.