Mnuchin: We’ve Reached a Deal on Direct Payments, ‘Not Going to Do a $2.2 Trillion Deal’

On Wednesday’s broadcast of the Fox Business Network’s “Lou Dobbs Tonight,” Treasury Secretary Steve Mnuchin stated that the White House will not agree to a $2.2 trillion coronavirus relief bill, but the White House has increased the amount of spending from their earlier $1 trillion proposed deal. Mnuchin further stated that the White House and House Speaker Nancy Pelosi (D-CA) have reached a deal that any relief bill will include direct payments.

Mnuchin said, “We’re not going to do a $2.2 trillion deal. The good news is, the speaker has come down from her $3.4 trillion deal. If there’s a fair compromise, we’re prepared to do it.”

He added, “Well, the president instructed us to come up significantly. So, we have come up from the trillion-dollar deal that we had been working on earlier.”

Mnuchin further stated that how the money is being spent is important, and the White House wants to spend money on PPP, ensuring “hotels, that the airlines get business, there’s money for schools so that kids can go to school safely. We want more money for testing and vaccines.”

He also stated, “So, the good news is, we have reached an agreement that if there is a deal, there are direct payments similar to last time that are in the package.”

Follow Ian Hanchett on Twitter @IanHanchett

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