Pelosi Says It’s Tuesday or Bust if White House Wants a Pre-Election Stimulus Package: Report

Oct 18, 2020 at 21:26 UTC

U.S. Speaker of the House Nancy Pelosi introduced the latest version of the relief bill on Monday. (Credit: Michael Candelori / Shutterstock)

Pelosi Says It’s Tuesday or Bust if White House Wants a Pre-Election Stimulus Package: Report

Democratic House Speaker told the White House Sunday it has until Tuesday to reach a deal on a pandemic stimulus package or it was unlikely to be passed before the election, the Wall Street Journal reported.

If no deal is reached by Tuesday evening, even if negotiations continue and are eventually successful, it’s unlikely to produce a package before the Nov. 3 election, the WSJ said, quoting an aide to the Senate Democrat.
House Democrats are seeking a $2.2 trillion relief package, and while President Donald Trump has said he’s prepared to go beyond his $1.8 trillion proposal, Senate Republicans in favor of a much more modest package may not support him.
If a package isn’t passed by the election, it might be well into February before one happens, the WSJ said, quoting Rep. Tom Reed (R., N.Y.).
Why this matters to crypto: Bitcoin (BTC) prices have been buoyed this year as investors bet that trillions of dollars of government and central bank spending around the world in response to the coronavirus-induced economic slowdown will inevitably result in inflation, and therefore be positive for the cryptocurrency.
As such, if a stimulus deal is reached, BTC may rise further.

Pelosi Says It’s Tuesday or Bust if White House Wants a Pre-Election Stimulus Package: Report

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