Trump will sign McConnell's coronavirus stimulus bill, Mnuchin says

Kathryn Krawczyk

President Trump will sign Senate Majority Leader Mitch McConnell's (R-Ky.) coronavirus stimulus proposal, Treasury Secretary Steven Mnuchin told reporters Wednesday.

McConnell announced what appears to be a tweaked version of his previous $500 billion deal on Tuesday, just hours after a group of bipartisan senators put forward a $908 billion proposal. McConnell hasn't revealed many details of his bill yet, but it does include school choice tax credits, a proposal blocking the federal government from using unspent CARES Act funding, and other GOP priorities.

Mnuchin made no mention of the bipartisan senators' bill, nor of a "secret deal" Democratic leaders reportedly put forward. The bipartisan bill's price tag was similar to the package McConnell shot down in July, but repurposes funds from the CARES Act, meaning only half the figure is new money. House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) meanwhile gave Republicans what Schumer called a "private proposal" on Monday night. No further meetings between Democrats and the White House are on the docket.

COVID-19 relief bill negotiations have been stalled for months, with the last CARES Act expiring at the end of July. Boosted unemployment benefits ended then, but a slate of other unemployment protections and tax propositions will expire at the end of the year without action.

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