House Speaker Nancy Pelosi doubled down Tuesday on her demands that Republicans increase their coronavirus relief package by citing Federal Reserve Chairman Jerome Powell’s request for more stimulus.
“Chairman Powell’s warning could not be more clear: robust action is immediately needed to avert economic catastrophe from the devastation of the coronavirus pandemic,” Mrs. Pelosi, California Democrat, said in a statement.
“More than 210,000 Americans have died, over 7.5 million have been infected and countless millions have lost jobs and financial security. It is long overdue for Republicans to join us in passing a bill that meets the needs of the American people by protecting our heroes, crushing the virus and putting money in the pockets of workers,” she continued.
At the National Association for Business Economics annual meeting Tuesday, Mr. Powell said the risk of overspending posed to the American economy was smaller than the mounting debt.
“The U.S. federal budget is on an unsustainable path, has been for some time,” Mr. Powell said. But “this is not the time to give priority to those concerns.”
Congress has already spent nearly $3 trillion on coronavirus relief bills since the outbreak began in earnest back in March.
A fifth bill has been in limbo since Democrats tried to pass their own $3.4 trillion package in May, which made it through the House but stalled in the GOP-controlled Senate.
Talks for a bipartisan comprehensive package resumed between the White House and Mrs. Pelosi recently, with Democrats lowering their offer to $2.2 trillion last week and the White House countering with $1.6 trillion.
While President Trump has been calling for negotiators to “work together and get it done,” rank and file Republicans on Capitol Hill are resistant to anything close to a $2.2 trillion deal.
Mrs. Pelosi and Treasury Secretary Steven T. Mnuchin are set to continue negotiations on Tuesday.
• Gabriella Muñoz can be reached at gmunoz@washingtontimes.com.
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