The future of the second stimulus package is still up in the air, with negotiations between Congressional Democrats and the Trump administration failed to reach an impasse as of Friday. As a result, President Donald Trump signed an executive order to deliver some provisions to the American people, though they do little to bring aid in the short-term, which is just the beginning of the problem.
Trump's executive order called for an extension of unemployment benefits, a deferment for student loans, and a payroll tax cut, which is the most controversial for many reasons. In addition to that, both Republican and Democrat lawmakers have criticized the president for using his executive privilege. GOP Senator Ben Sasse of Nebraska called the executive orders "unconstitutional slop," adding that "President Obama did not have the power to unilaterally rewrite immigration law with DACA and President Trump does not have the power to unilaterally rewrite the payroll tax law." Other experts believe that the president's executive order actually raised more questions due to the wording of his memorandum.
There's also the lingering promise that Democrats and Republicans could return to the table to continue working toward a solution. However, it's unclear if that will happen.
Mark Cuban's Response
Dallas Mavericks owner Mark Cuban took to Twitter on Saturday to take politicians in Washington, D.C. to task for their overall inaction on a stimulus package. "I haven't seen [NBA] players talk about politicians since the restart. I've seen a lot of politicians and 'pundits ' talk about the [NBA]," Cuban tweeted. "If you don't want to see sports [and] politics mixed, tell your politicians to SHUT UP AND PASS A STIMULUS PLAN and turn off Cable News."prevnext
Larry Kudlow's Interview
White House Economic Advisor Larry Kudlow gave a borderline incoherent interview on Sunday with CNN's Dana Bash when trying to explain the new unemployment benefits. "At a minimum, we will put in 300 bucks and the states will continue with their 400 bucks. But I think all they have to do is put up an extra dollar and we'll be able to throw in the extra $100," Kudlow claimed.
After Bash pointed out that states would have to provide 25 percent of these payouts, things didn't get any clearer. "Well, we will stand ready to re-purpose if states put in a little bit more is all it amounts to," he ambled. "Right now, that number's going to run around $700. I think they'll get to $800. Some states can get above $800 with our federal help."prevnext
Donald Trump's Claim
So now Schumer and Pelosi want to meet to make a deal. Amazing how it all works, isn’t it. Where have they been for the last 4 weeks when they were “hardliners”, and only wanted BAILOUT MONEY for Democrat run states and cities that are failing badly? They know my phone number!— Donald J. Trump (@realDonaldTrump) August 10, 2020
On Monday, Trump took to Twitter to criticize Democratic negotiators House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer for wanting "to make a deal" now after spending weeks being "hardliners" on certain topics. Naturally, president's condemnation came after Pelosi and Schumer in a statement called on "Republicans to return to the table, meet us halfway and work together to deliver immediate relief to the American people" on Sunday.prevnext
Steven Mnuchin's Offer
Treasury Secretary Steven Mnuchin spoke to CNBC's Squawk on the Street on Monday, addressing the negotiation breakdown. "The president is determined to spend what we need to spend," he explained. "We're prepared to put more money on the table." Mnuchin, who represented the Trump administration along with White House Chief-of-Staff Mark Meadows, also said he believed that Pelosi and Schumer were "willing to compromise" in order to get a bill passed. "Again, if we can get a fair deal we're willing to do it this week."prevnext
Florida Man's Fraud
32-year-old Floridian Judlex Jean Louis was arrested and charged with bank fraud, making false statements to a financial institution, and aggravated identity theft after receiving fraudulent Paycheck Protection Program loans. Louis allegedly filled out numerous loan applications using various names and social security numbers, along with doctored bank statements. His preliminary hearing is Friday.prevnext
Mike Pence's Push
Echoing Mnuchin's claims, Vice President Mike Pence told Fox Business' Lou Dobbs on Monday that the White House wants to "get more support for businesses" by supporting the renewal of the PPP. "We're literally calling on every governor, especially Democrat governors across the country, to call on members of their party in Congress to say let's get to the table, let's get a deal done that puts Americans first."prev