Many House Democrats are raising pressure on party leaders to break the logjam with the White House on coronavirus aid, eager to pass a bill before Election Day even with further concessions to Republicans, the Wall Street Journal reported. There is no vote on coronavirus-related aid scheduled for the House’s current three-week session. Anxious Democratic lawmakers, including incumbents defending competitive seats, want negotiators to return to the table to strike a deal before Congress takes a monthlong break for campaigning. Moderate Democrats have sent letters to their leadership, encouraging House Speaker Nancy Pelosi (D- Calif.) to resume negotiations with the White House. Pelosi has held firm that Democrats should support an expansive package that includes money for state and local governments, schools and extends unemployment assistance and food programs. The top two House Democrats, who are rarely at odds, are in disagreement about the next steps. House Majority Leader Steny Hoyer (D-Md.) has expressed a desire to be more flexible on negotiations and pass legislation during the September session, according to aides. Democrats currently have 232 seats in the House, compared with 198 for Republicans and one independent. Pelosi had told White House negotiators she would come down to $2.2 trillion on a bill and hasn’t ruled out a deal. Some Democrats have said that they would be willing to discuss a smaller package, potentially moving closer to the $1.5 trillion the White House has said it could accept. Last week, Senate Democrats blocked Senate Republicans’ whittled-down $300 billion coronavirus aid package, which included $300 in weekly federal jobless payments and aid for small businesses among other items. Even the most impatient Democratic lawmakers don’t see value in taking up the Senate bill, citing the need for more money for state and local governments, public schools and people facing food insecurity that the Senate bill left out. Read more. (Subscription required.)
In related news, JPMorgan Chase & Co. Chief Executive Jamie Dimon said the economic recovery from the coronavirus recession could be derailed by a lack of additional economic stimulus, the election and a second wave of infections, Reuters reported. Dimon made the comments on Friday to stock analyst Brian Kleinhanzl of Keefe, Bruyette & Woods, who wrote about their meeting in a report. Dimon added that earlier government stimulus had delayed the full effects of the recession. As it hits, customers who have borrowed from the banks will feel the impact, the note said. Consumers are spending less. “Based on their data it is unclear if that trend is getting better or worse,” Kleinhanzl wrote. Read more.
