Kudlow says 'almost impossible' to execute coronavirus relief deal before election

Posted 12 days ago

From WWW.FOXBUSINESS.COM

Senior White House economic adviser Larry Kudlow said Friday morning it would be "almost impossible" to execute a coronavirus relief package before the November election, even if Congress overcame a monthslong impasse and struck a deal.

"Maybe some of it could be executed," he told FOX Business' Stuart Varney. "But you certainly couldn't get a grand, large deal."

Instead, Kudlow urged lawmakers to reallocate $300 billion in unused CARES Act funds and use it to extend boosted unemployment benefits, reopen the Paycheck Protection Program and provide airlines with another $25 billion bailout.

"All they have to do is appropriate it," Kudlow said. "It takes legislative and political will to do it."

Kudlow's comments came one day after President Trump told FOX Business he was considering upping his offer for a coronavirus relief package above the White House's current $1.8 trillion proposal.

"I would," he told Stuart Varney. "Absolutely, I would. I would say more. I would go higher. Go big or go home, I said it yesterday."

“Nancy Pelosi doesn’t want to give anything. She thinks it helps her with the election,” the president continued. “And I don’t think so. I think it hurts her with the election because everyone knows she’s holding it up. We’re not holding it up. She’s holding it up.”

But Senate Majority Leader Mitch McConnell contradicted the president just a few hours after he proposed raising his spending offer, rejecting a deal that costs more than $1.8 trillion.

Asked during an appearance in Henderson, Ky., whether there can be a compromise between the White House-backed $1.8 trillion proposal and a $2.2 trillion offer put forward by House Democrats earlier this month, McConnell pushed back.

“I don’t think so," he said. "That’s where the administration's willing to go. My members think what we laid out, a half a trillion dollars, highly targeted, is the best way to go."

"What I’m going to put in the floor is what Senate Republicans, 52 out 53 of us, feel like is an appropriate response," he said. "You are correct there were discussions going on between the secretary of the Treasury and the speaker about the higher amount. That’s not what I’m gonna put on the floor.”

TRUMP REJECTS DEMS' CORONAVIRUS RELIEF PROPOSAL, CALLS OFF NEGOTIATIONS 'UNTIL AFTER THE ELECTION'

The Trump administration's latest proposal -- its largest yet -- drew criticism from both Republicans and Dem... (Read more)