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Friday, 5 p.m. ET: Still no coronavirus relief deal

With their self-imposed deadline looming, the White House and Democratic leader have yet to reach any agreement on the next round of coronavirus relief as tens of millions of Americans face reduced unemployment benefits and potential eviction.

According to the Washington Post, the Democrats came into today’s meetings prepared to reduce their aid proposal by up to one trillion dollars.  The White House rejected the Democrats offer.

“The president would like us to make a deal, but unfortunately we did not make any progress today,” Treasury Secretary Steven Mnuchin said.  “At this point we are going to recommend to the president that over the weekend we move forward with some executive actions.”

While President Trump golfs at his country club in Bedminster, New Jersey, Mnuchin, White House Chief of Staff Mark Meadows, Speaker of the House Nancy Pelosi and Senate Minority Leader Chuck Schumer worked throughout the day to try to come to an agreement.

It is unclear how presidential executive actions can alleviate the stalemate because any spending would have to be approved by Congress, which would require more negotiations.

Democrats have said that this round of relief must include at least $2 trillion in financial aid, including a moratorium on evictions, federal subsidies for unemployed Americans, and financial assistance for state and local governments.

The GOP proposal included reduced unemployment subsidies and no additional financial assistance for state or local governments.  The one-trillion dollar republican offer also included roughly $35 billion for defense contractors and $1.75 billion to build a new FBI headquarters on the site of the current building, as well as a liability shield for companies whose employees contract coronavirus on the job.

Senate Majority Leader Mitch McConnell has said that any package exceeding one trillion dollars would not get republican support in the Senate, meaning that he would have to reach across the aisle for Democratic support, a sign of political weakness for McConnell and Trump in an election year.

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