generic House Democrats plan new $2.4T stimulus package including unemployment aid
House Democrats are planning a new $2.4 trillion stimulus packages that will include unemployment aid. Yahoo Finance's Jessica Smith shares the details.
Video Transcript
ADAM SHAPIRO: But let's go to Yahoo Finance's Jessica Smith. She's got the latest on where we stand with the stimulus standoff on Capitol Hill. Jess?
JESSICA SMITH: Well, House Speaker Nancy Pelosi has reportedly directed the chairs of the committees to come up with a scaled-back version of another stimulus bill. We haven't seen this legislation yet, but we expect it to include some of the key provisions from the HEROES Act, so that would be state and local funding, enhanced unemployment insurance, help for small businesses. And then "Politico," which first reported this news, says there will also be help for airlines and help for restaurants included in this package.
We could see a vote as early as next week, but it does sound like the situation is pretty fluid. The price tag on this could range from about $2.2 trillion to $2.4 trillion. So that's down from the $3.4 trillion HEROES Act, but it's still about a trillion dollars off from what Republicans have indicated is their top number that they'd be willing to go for.
Treasury Secretary Steven Mnuchin did say that he and Speaker Pelosi have agreed to restart stimulus talks, to restart negotiations. We will see, though, if they actually have some productive conversations. As far as we know, the two haven't had direct conversations about stimulus since he made those remarks. So this is something we'll keep an eye on over the next few days. Adam?
