President Donald Trump on Friday ended negotiations for another round of coronavirus stimulus talks with Congressional Democrats, vowing to take executive action instead.
“Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states,” Trump wrote on Twitter. “Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!”
Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows continued negotiations with Democrats throughout the week, but Democrats remained insistent on trillions more in spending and bailout money for cities and states.
“The Chief and I will recommend to the President, based upon our lack of activity today, that he move forward with some executive orders,” Mnuchin said on Capitol Hill after culminating negotiations with Democrats that went nowhere.
Mnuchin said that the executive orders would likely handle unemployment funds, rental foreclosures, and student loans.
“We’ll do them as quickly as we can because the president wants action,” Mnuchin said.
The enhanced federal unemployment checks of $600 a week ran out on Friday.
Meadows expressed frustration that both House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer refused to compromise, criticizing them for demanding a “$2.5 trillion blank check.”
“The chief and I will be back here any time to listen to new proposals,” Mnuchin said, noting that they asked for a compromise on state and local bailouts and the size of the unemployment checks.