Happy Tuesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.
THE BIG DEAL-Pelosi, citing ‘leverage’ over Trump, holds strong to $2.2T in COVID-19 aid: Speaker Nancy Pelosi (D-Calif.) on Tuesday shot down entreaties from some Democrats to cut a $1.8 trillion deal with the White House on coronavirus relief, arguing that President Trump’s pleas for Congress to “go big” have given her leverage to hold out for more aid.
“I appreciate the, shall we say, a couple people saying, ‘Take it, take it, take it,'” Pelosi said in a phone conference with Democrats, according to source on the call. “Take it? Take it? Even the president is saying, ‘Go big or go home.'”
- Pelosi and Treasury Secretary Steven Mnuchin have been in near-daily talks in search of an elusive stimulus agreement, even as the prospect of a deal before the Nov. 3 elections has faded.
- Mnuchin last week had offered a $1.8 trillion package, up from an earlier proposal of $1.6 trillion, prompting a growing number of House Democrats to urge the Speaker to come down from her $2.2 trillion proposal.
- That figure was already a reduction from the Democrats’ $3.4