Trump, Congress negotiating next economic stimulus as coronavirus recession fears grow

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Trump, Congress negotiating next economic stimulus as coronavirus recession fears grow
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Trump has also pushed for a payroll tax holiday, an idea that has so far met with a chilly reception on Capitol Hill – including some Republicans.

the bipartisan package won't be nearly enough to stem the pandemic's potential economic impact.

The rapid push for a more robust economic stimulus follows some forecasts predicting a global slowdown as Americans abandon travel plans, sporting events are cancelled and. Treasury Secretary Steven Mnuchin downplayed talk of a recession Sunday and predicted the economy would bounce back. Mnuchin and other administration officials are developing next-step plans even as Senate leaders are negotiating the timing of a vote on a pending coronavirus relief deal approved by the House. Senate Majority Leader Mitch McConnell said last week he hopes to move swiftly, but so far lawmakers haven't agreed to schedule a vote.

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