Mnuchin, Congress Leaders to Hold New Talks on Next Coronavirus Aid Bill

U.S. Treasury Secretary 👤Steven Mnuchin and congressional leaders will hold bipartisan negotiations on a new coronavirus-response bill with the goal of reaching a deal by early next week, Senate Democratic Leader 👤Chuck Schumer said on Friday.

One day after Republicans failed to ram through the Senate a $250 billion increase in loans for small businesses suffering due to the outbreak, Schumer said in a statement that he had had a “constructive” conversation with Mnuchin.

Democrats support the $250 billion in new funding but want to set aside some of the lending for community and minority-owned banks.

Besides the small-business funding, Schumer and House of Representatives Speaker Nancy Pelosi are seeking another funding stream of more than $250 billion. It would be dedicated to helping hospitals dealing with surges in patients infected with the coronavirus and aid to state and local governments, along with expanded food aid for the poor.

Republicans oppose this second batch of funding, saying it is premature.

Democrats call this an “interim” bill to approve before moving onto a potentially broader measure to further help the economy recover from a massive increase in unemployment and business slowdowns as Americans stay at home and wait for the virus to be brought under control.

“There’s no reason why we can’t come to a bipartisan agreement by early next week,” Schumer said.

Aides to Republican Senate Majority Leader Mitch McConnell had no comment on the possibility of a deal early next week.

And at a mid-afternoon coronavirus news conference, Trump did not signal a willingness to give in to Democrats’ demands.