DC Tax Flash: Trump Ends Talks with Congress on Pre-Election Virus Relief Bill

Tax Alert

The president today announced that he is breaking off further talks on a pre-election virus relief package, promising to restart work on a stimulus bill after voters make their choice in November. 

​The president posted the following on Twitter this afternoon: "We made a very generous offer of $1.6 Trillion Dollars and, as usual, she [House Speaker Nancy Pelosi] is not negotiating in good faith. I am rejecting their request, and looking to the future of our Country. I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business." 

He urged Senate Majority Leader Mitch McConnell (R-KY) to instead "focus full time" on confirming Supreme Court nominee Amy Coney Barrett.

Speaker Pelosi issued a statement today blaming the President for ending negotiations. "[T]he president is abandoning meeting the needs of our children as they adjust to learning in-person, virtual or hybrid," she said. "Instead, Trump is wedded to his $150 billion tax cut for the wealthiest people in America from the CARES Act, while he refuses to give real help to poor children, the unemployed and America’s hard working families."

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