New economic relief deal unlikely before election, Mnuchin says

WASHINGTON — Treasury Secretary Steven Mnuchin said Wednesday that a new economic relief bill is unlikely before the election, suggesting that Democrats are unwilling to give President Donald Trump a victory.

“I’d say at this point getting something done before the election and executing on that would be difficult, just given where we are,” Mnuchin said during an event hosted by the Milken Institute’s Global Conference.

Asked whether Democrats are unwilling to make a deal because they don’t want to give Trump a win three weeks before the election, Mnuchin replied: “I think that definitely is part of the reality. That’s definitely an issue.”

“But the president is very focused on when he wins we will need to do more. So that’s part of the reason to continue to work on this,” the treasury secretary added. “The clock will not stop.”

Mnuchin made his comments after an hourlong conversation he had Wednesday with House Speaker Nancy Pelosi, D-Calif. The two have been negotiating for a couple of weeks despite the long-shot prospects for success. Trump on Wednesday called for a deal in a Twitter post, urging negotiators to “Go big or go home!!!”

Mnuchin on Friday made Pelosi a $1.8 trillion offer that she rejected as inadequate in many respects, including the administration not agreeing to specifics on a national coronavirus testing strategy.

“It’s like you’re bleeding and they keep putting Band-Aids on it but they’re not addressing the problem,” Pelosi told House Democratic leaders in a meeting Wednesday, referring to the administration’s refusal to embrace a national strategic testing plan. Her comments were confirmed by a person familiar with them who spoke on the condition of anonymity because the meeting was private.

Pelosi’s spokesman, Drew Hammill, said on Twitter that Pelosi and Mnuchin had a “productive” conversation and would speak again Thursday.