McConnell, Pelosi expect deal, but Rounds urges Trump to issue executive order |

McConnell, Pelosi expect deal, but Rounds urges Trump to issue executive order

Senate Majority Leader Mitch McConnell, R-Ky., and House Speaker Nancy Pelois, D-Calif., both said today they expect Congress to reach a deal on coronavirus aid, although big differences remain.

In an appearance on CNBC’s “Squawk on the Street,” McConnell said that the Democrats and most of the Republicans want to reach a deal on coronavirus aid. But when asked about the schedule, McConnell would say only that it will be “in the near future.”

“Will we find a solution? We will,” Pelosi told CNBC. “Will we have an agreement? We will.”

Pelosi also made a point that Senate Minority Leader Chuck Schumer, D-N.Y., has said before: that the Senate Republican bill includes a tax break for business lunches but does not include food assistance.

CNBC stock analyst Jim Cramer, who conducted the interviews, said afterward that if no agreement is reached there will be a stock sell off later in the month.

Pelosi also said there is debate over lowering the level of losses that make hospitality establishments eligible for the Paycheck Protection Program. She noted that the level of losses had been 50%, and that Democrats want to lower it to 30%.

Sean Kennedy of the National Restaurant Association said in a video to its members today that Republicans had agreed to lower it to 35%.

Meanwhile, Sen. Mike Rounds, R-S.D., said today that President Donald Trump should issue executive orders to enact a new round of aid.

On a call to the reporters, Rounds said the Senate and the House are at an impasse, and that it may be best for Trump to issue executive orders “and see if the House responds.”

Pelosi and Schumer are scheduled to meet again today at 5 p.m. with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows.

–The Hagstrom Report

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User


Varilek’s Cattle Call: Cash and Futures Optimism


The cattle market finished the week on a stronger note with contract highs for the December live cattle out through next spring. The optimism remains that the producer can somehow start getting a piece of…

See more