fbpx
Qatar v. Ecuador to kick off FIFA World Cup 2022™ on 20 NovemberRead more Webb Fontaine Announces Launch of Niger National Single Window (NNSW) to Bolster TradeRead more Ethiopia: Loan from United Nations Fund Allows Food and Agriculture Organization (FAO) to Scale Up Fertilizers for Farmers in TigrayRead more How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more Network International & Infobip to offer WhatsApp for Business Banking Services to Financial Institution Clients across AfricaRead more Ambassador Jacobson Visits Gondar in the Amhara Region to Show Continued U.S. Support for the Humanitarian and Development Needs of EthiopiansRead more Voluntary Repatriation of Refugees from Angola to DR Congo ResumesRead more

US aid deal possible if Democrats are ‘reasonable’: Mnuchin

Print Friendly and PDF

Aug 19, 2020 - 03:54 AM

WASHINGTON — Agreement on a new deal for more emergency pandemic spending is within reach if Democratic leaders are willing to be “reasonable,” US Treasury Secretary Steven Mnuchin said Tuesday.

That deal would include funding for the embattled US Postal Service (USPS), which the sides already agreed on, Mnuchin said on CNBC.

“There’s a deal to do here if the Democrats want to be reasonable. I’m concerned about the politics in all this,” he said, noting that he has continued to have discussions with legislators on funding to help businesses and workers hurt by COVID-19 shutdowns.

“I think there’s a lot of people on both sides in the Senate and the House, both Republicans and Democrats, that would like to see people come together and get a deal done that’s good for the American workers.”

Negotiations with House Speaker Nancy Pelosi and Democratic Senator Chuck Schumer broke down earlier this month when the White House refused to go along with aid to struggling state and local governments, which Mnuchin had called “absurd.”

Each side has blamed the other for the failure to reach a deal, which economists say is critical to aid the struggling economy.

The Treasury secretary said the sides had agreed on $10 billion for the USPS, even while he argued that the funds were not needed because there was “plenty of cash on hand.”

The postal service is at the center of a political firestorm, after President Donald Trump named Republican donor Louis DeJoy as postmaster general. DeJoy slashed overtime and reshuffled senior management, moves critics charge are aimed at slowing down delivery times and undermining mail-in voting in the November presidential elections.

Pelosi called the House of Representatives back into session to pass a stand-alone bill to aid the postal service, and DeJoy is set to testify before the House Oversight Committee on Monday.

But the Republican-led Senate Homeland Security Committee announced Tuesday DeJoy will testify there first on Friday.

Mnuchin said it is critical to get new aid to small businesses which are suffering the most.

“It’s a two-tiered economy right now,” he said. Some large firms are benefitting from the pandemic but “there’s plenty of small businesses that are on the ropes.”

  • bio
  • twitter
  • facebook
  • latest posts

LMBCBUSINESS.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.