White House Makes Major Concession with Time Running Out in Phase 4 COVID-19 Relief Negotiations
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(logo whooshes dramatically)
- [Announcer] Inching closer to a deal.
- Hopefully we'll get there.
- [Announcer] The presidentprepared to give in.
- The payroll tax cuts are very important.
- [Announcer] Days afterinsisting on a payroll tax cut
in any coronavirus rescue package,
the president declaring in a tweet that,
"The Democrats have stated strongly
"they won't approve a payroll tax cut,"
and is ready to move on without it
in a $1 trillion relief package.
- And this is about kids and jobs.
- [Announcer] The White House'sfocus, reopening schools
and the economy.
The bill is set to provideup to $25 billion for testing
and up to 105 billion to schools.
Treasury Secretary SteveMnuchin saying a Republican plan
would decrease the levelof unemployment insurance
set to run out this month.
- This is intended to be wage replacement,
so we're focused on thepercentage, which is about 70%.
So nobody's gonna get more than $600,
but again, if you were making $300,
you're not gonna get $600 this time.
- [Announcer] House Speaker Nancy Pelosi
countering that the GOP planis too little, too late.
- And what we have seen so far
falls very short of thechallenge that we face
in order to defeat the virus
and in order to open ourschools and to open our economy.
- [Announcer] Democrats areinsisting that any relief bill
include hazard pay andfood and rental assistance.
- How about instead of shieldingcorporations from immunity
we shield renters from eviction?
- [Announcer] As to those grappling
with adding to the deficit,the top house Republicans
signal that a GOP bill isthe lesser of two evils.
- Well, there's a real concern,the amount of debt we have.
I watched that the Democratswanted to spend three trillion.
- And with the extra unemployment benefits
set to run out next week,the clock is ticking.
It is not clear if removingthe payroll tax cut
will be enough to get Democratson board with a Republican.