Congress can reach a bipartisan deal on a new economic relief package by early next week, the top Senate Democrat said Friday after speaking with Treasury Secretary Steven Mnuchin.
Senate Minority Leader Chuck Schumer, a New York Democrat, said Friday he spoke by phone with Mnuchin about the Treasury Department’s request for an additional $251 billion to replenish a small business relief fund that is running out of money.
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Democrats blocked the measure from passing the Senate on Thursday after Republicans rejected their demands to double the funding and greatly expand the scope of the bill.
“I had a constructive call with Secretary Mnuchin this morning, during which he agreed to pursue bipartisan talks with the leadership of House and Senate Democrats and Republicans on interim Emergency Coronavirus Relief legislation,” Schumer said in a statement Friday. “There’s no reason why we can’t come to a bipartisan agreement by early next week.”
Talks between Democrats and Mnuchin are likely to continue today and into the weekend. House Speaker Nancy Pelosi, a California Democrat, in a press call Thursday ruled out holding negotiations on Easter Sunday.
The Senate is not in session Friday but will have a new opportunity to pass legislation on Monday, when the chamber gavels in for a pro forma session. The Senate also meets on Thursday for a pro forma session.
Since Congress is adjourned until at least April 20, legislation would have to pass by unanimous consent or by voice vote. Neither action requires a traditional quorum of lawmakers to appear in the chamber for a roll call vote.
Republicans wanted to pass the $251 billion measure quickly and without additions or changes, but Democrats want changes to how the small business aid is distributed to ensure underserved small businesses can gain access to the money. Democrats also want the measure to include $100 billion for healthcare facilities and $150 billion for state and local governments to deal with the coronavirus and to compensate for reduced tax revenue caused by the economic slowdown.
Republicans opposed the move and urged Democrats to save their demands for a new economic relief package Congress is likely to take up in the coming weeks.
