Gold Jumps As Bipartisan Stimulus Talks Resume

In a lame-duck session, stalled negotiations over coronavirus relief showed signs of new life Tuesday.

Centrists Unveil Bipartisan Plan

Trump would need to sign the legislation but Coronavirus Stimulus Talks Restart

House Speaker Nancy Pelosi (D., Calif.) and Treasury Secretary Steven Mnuchin planned to speak Tuesday afternoon. Meanwhile, after a month of discussions, a group of lawmakers from both the House and Senate unveiled Tuesday morning a $908 billion aid proposal, seeking a middle ground between Democratic and Republican leaders’ stances.  

“We simply can’t leave town and leave anyone in the cold, without getting something done immediately,” said Rep. Josh Gottheimer (D., N.J.), co-chair of the bipartisan Problem Solvers Caucus, which has endorsed the proposal.

Mr. Mnuchin told a Senate hearing Tuesday that the White House and GOP leaders were interested in further relief, but didn’t provide a target. “We all believe there should be targeted fiscal response,” he said.

The proposal unveiled Tuesday, which would run through March 2021, includes some measures sought by both parties. Lawmakers included $160 billion in state and local funding—long one of the biggest sticking points in talks among congressional leaders.

The bipartisan proposal also nods at one of Republicans’ top priorities: legal protections for businesses and other entities operating during the pandemic. Lawmakers said they would provide a short-term suspension of liability lawsuits related to Covid-19 at the state or federal level, giving states time to put in place their own protections.

The proposal also includes $288 billion for the popular Paycheck Protection Program, $16 billion for the distribution of a coronavirus vaccine, $82 billion for schools, $25 billion for rental assistance and $180 billion for additional unemployment insurance, including $300 a week through March, aides said. In addition, the plan would give $17 billion to airlines.

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