The White House will take a $1.8 trillion coronavirus stimulus offer to Democrats as the sides work to strike a deal before the 2020 election, a source told CNBC.
The plan would mark an increase from the $1.6 trillion the Trump administration previously proposed. House Democrats passed a $2.2 trillion bill earlier this month, and the sides have struggled to find a consensus in between those figures.
On Friday afternoon, Trump economic advisor Larry Kudlow, director of the National Economic Council, said the president had approved a “revised” package ahead of another planned discussion between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi. In a tweet, Trump urged negotiators to “Go Big!”
President Trump, in a head-spinning reversal, has told allies he’s interested in a large-scale stimulus deal, according to a person with direct knowledge of his comments. https://t.co/jTuGsiLyxz
— CNN (@CNN) October 9, 2020