The White House announced yesterday that it is hoping to reach an agreement with Democrats on the next stimulus relief package “within weeks.”
This information came from White House communications director Alyssa Farah.
Farah has not been Involved in a lot of the day-to-day stimulus negotiations and so she may not have direct knowledge of where things stand but she is the communications director so I think you have to take her word for it.
She gave the response that the White House is confident that they can get something in the coming weeks whenever she was asked about the prospect of a deal this week.
“We are confident that we can get something in the coming weeks,” Farah said.
“We are hoping within weeks. I don’t want to get too ahead of any announcements.”
This is pretty huge news because it is the first time that the White House has come out and flat out said that they don’t think a deal will get done before the election.
It’s also interesting that this statement came out the day after ACB was confirmed to the US Supreme Court.
It makes you wonder if that was sort of a tipping point for negotiations with the Democrats.
So now it appears that if a deal gets done it could be taking place during a lame duck session if Trump does not win.
Many experts are doubtful that such a deal will get done during that period and believe that we would have to wait until 2021 to see anything get done.
As far as what is going on with the negotiations, it seems like the parties are still stuck on the issue of funding state and local governments.
There may also be a wide disagreement on language for a national plan for coronavirus testing and tracing.
It doesn’t appear that all the parties have lost optimism about getting an agreement made.
Drew Hammill, a Pelosi aide, tweeted Monday that the Speaker “remains optimistic that an agreement can be reached before the election.”
But the same optimism is not coming from the president at the moment as he tweeted out this morning that Pelosi is “only looking to Bail Out badly run Democrat Cities.”
“She has little interest in helping out the ‘people’,” Trump tweeted.
At this point, I would be very surprised if a deal is made prior to the election.
I think we all should be prepared for the potential outcome of not seeing more stimulus relief until next year.
Hopefully, it does not come to that but in the event of a regime change that is a pretty likely outcome based on what I’ve heard from many different experts.
UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.