Mnuchin says COVID relief deal could be coming

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin held an extensive conversation Wednesday on a huge COVID-19 rescue package, meeting face to face for the first time in more than a month in a last-ditch effort to seal a tentative accord on an additional round of coronavirus relief.

After a 90-minute meeting in the Capitol, Pelosi issued a statement saying the two would continue to talk.

Talks resume Thursday.

“We made a lot of progress over the last few days. We still don’t have an agreement," Mnuchin said after meeting with Pelosi and briefing top Senate Republican Mitch McConnell.

At the very least, the positive tone set by Pelosi and Mnuchin represented an improvement over earlier statements. But there is still a considerable gulf between the two sides, McConnell said.

“I’ve seen substantial movement, yes, and certainly the rhetoric has changed,” White House Chief of Staff Mark Meadows said.

In an appearance on Fox Business Network's Lou Dobbs Tonight on Wednesday night, Mnuchin described the talks as the first serious discussions with Pelosi in “several weeks" and said he is raising his offer into “the neighbourhood” of $1.5 trillion.

That's well above what many Senate Republicans want but would probably be acceptable to GOP pragmatists and senators in difficult races.

After initially saying the Democratic-controlled chamber would vote Wednesday night on a $2.2 trillion relief bill - a debate that would have been partisan and possibly unproductive - Pelosi made an about-face and postponed the vote until Thursday in hopes of giving the talks with Mnuchin greater breathing room.

At issue is a long-delayed package that would extend another round of $1,200 direct stimulus payments, restore bonus pandemic jobless benefits, speed aid to schools and extend assistance to airlines, restaurants and other struggling businesses.

A landmark $2 trillion relief bill in March passed with sweeping support and is credited with helping the economy through the spring and summer, but worries are mounting that the recovery may sputter without additional relief.

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