Pres. Trump laid out his plan for the executive order in a speech. He accused Democrats of holding coronavirus stimulus negotiations 'hostage,' and said the order would defer payroll taxes until to the end of the year and be retroactive to July 1.
"The Chief of Staff and I will recommend to the president, based upon our lack of activity today, to move forward with some executive orders," Mnuchin said.
For two weeks now, the two parties have struggled to find common ground on their two proposals which came in at sizably different prices. The original Democratic proposal, which passed the House in May, was worth $3.4 trillion. The Republican proposal came in around $1 trillion. "Even with their trillion dollar Washington D.C., magical way of saying they are coming down a trillion they can't come up with any significant cuts to their bill," Meadows said.
White House Chief of Staff Mark Meadows and Secretary of the Treasury Steven Mnuchin speak to members of the press after a meeting at the office of Speaker of the House Rep. Nancy Pelosi at the U.S. Capitol, Aug. 7, 2020 in Washington, DC.Both administration officials expressed frustration about returning to Capitol Hill today only to be met with more of the same during talks.
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