White House stimulus proposal goes over $1.5 trillion with $20 billion for airlines

In this news, we discuss the White House stimulus proposal goes over $1.5 trillion with $20 billion for airlines.

(Reuters) – Trump administration proposed to include $ 20 billion extension in aid to battered airline industry in new stimulus proposal to House Democrats valued at more than 1.5 trillion dollars, White House chief of staff Mark Meadows said on Wednesday.

“There is $ 20 billion in the most recent proposal for airlines that would give them a six-month extension,” Meadows told reporters aboard Air Force One, noting the industry was in urgent need. Support.

American Airlines AAL.O and United Airlines UAL.O, two of America’s largest carriers, said they started quitting more than 32,000 workers on Thursday as hopes of a last-minute Washington bailout faded. U.S. airlines pleaded for an additional $ 25 billion in help to protect jobs for another six months after the current package, which banned holidays, expired at midnight EDT.

Coronavirus relief talks between the White House and House Democrats were largely stuck on price, with Democrats seeking $ 2.2 trillion and the White House remaining firm at $ 1.5 trillion.

Meadows declined to provide the full value of the White House’s latest proposal, but said the figure was “certainly higher than the $ 1.5 trillion that has been articulated to date.”

“When you go over $ 1.5 trillion, it becomes extremely difficult to justify on the basis of the facts,” he cautioned, explicitly stating that $ 2 trillion was too much. “If it starts with a 2, it’s going to be a real problem,” he added.

Speaking on a flight to Washington from the state of Minnesota, where US President Donald Trump made headlines in a rally ahead of the November presidential election, Meadows said he hoped the talks would continue with the Democrats on Thursday.

Meadows also told reporters that an interim spending bill approved by the Republican-controlled Senate and Democratic-led House to fund the government until Dec. 11 has been received by the White House. Trump signed the bill.

Reporting by Alexandra Alper in Washington; Editing by Muralikumar Anantharaman and Raju Gopalakrishnan

Original © Thomson Reuters

Originally posted 2020-10-01 06:46:10.

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