House Speaker Nancy Pelosi (D-CA) on Tuesday revealed that Treasury Secretary Steve Mnuchin had agree to oversight of a $500 billion relief “slush fund” for businesses.
During an interview on CNBC, Pelosi suggested that Democrats and the White House could agree to a coronavirus relief bill within hours.
“I can say we’re all receptive to getting something done we all know that everybody doesn’t write their own bill, that it’s a series of compromises, and that we think the bill has moved sufficiently to the side of workers,” she explained to CNBC host Jim Cramer.
“This isn’t a conversation with workers and not with the airlines or other industries, hospitality, parking, you name it, restaurants, you go down the list,” she added. “Trying to address their problem. So it is not a one-sided conversation on our part. However, things like a $500 billion slush fund was really insulting.”
“I think the secretary has come to that agreement with you, and has some sort of transparency factor, inspector general, get an oversight panel,” Cramer noted.
In fact, the White House confirmed on Tuesday that Mnuchin had agreed in princple to some form of oversight.
A WH official confirms that Treasury Secretary Mnuchin has agreed to "significant oversight" over $500B Exchange Stabilization Fund.
This was a big sticking point for Democrats who called it a slush fund and wanted much more oversight on how the money was spent.
— Yamiche Alcindor (@Yamiche) March 24, 2020
Pelosi on CNBC says “I think there is real optimism that we could get something done in the next few hours.”
There’ll be an inspector general who has oversight over the $500 billion loan program to corporations.
This is key—Senate Dems yesterday were calling this a “slush fund”
— Andrew Desiderio (@AndrewDesiderio) March 24, 2020
WH has agreed to oversight for stimulus deal's $500B fund proposed for companies in urgent need, we have confirmed.
— Jim Acosta (@Acosta) March 24, 2020
Watch the video below from CNBC.
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